Assistant Manager - Actuarial (Group Pricing)

This role involves providing Group Business Quotations for Group Credit Life / Group Term Life (Employer employee as well as Affinity) in a controlled manner within agreed TATs, engage with sales team on regular basis to understand the quote priorities, client requirements, queries etc. related to group schemes, maintaining clear audit trails of all group quote pricing related activities in line with products F&U document as well as applicable rules and regulations, raise quote requests to reinsurers in order to obtain favorable reinsurance terms and ensure all the cases are discussed and reviewed by Line manager as per agreed approval matrix, maintain daily tracker of quote requests received from the sales and processed by the team.

This role would also involve providing support in calculating Loss Ratio for existing Group schemes portfolio on regular basis as per the business requirements, Assist in Product pricing of any new/ modification of group products. This includes: Analysis of competition rates to develop a pricing mechanism to ensure product is competitive ensuring business and regulatory requirements are met. Assist in developing filling documentation required for IRDAI product filling.

This role requires a sound understanding of actuarial principles, basis understanding in respect of group business and local regulations, ability of interacting with other departments and contribute in an intense and a TAT oriented environment.

• Provide Group Quotes in a controlled manner within agreed TATs.
• Ensure that the requirements from Sales and other teams related to quote priorities, competition rates are addressed in appropriate manner
• Follow the agreed quote process and approval matrix.
• Ensure all the data requirements for loss ratio analysis is received within agreed timelines

• Ensure pricing mechanism as per approved F&U, and IRDAI regulations are adhered while providing group quotes
• All the Product related work is completed within required timescales.

• Reduction in timescales for carrying out tasks of the team without any compromise in quality.
• This role is expected to maintain group quote TATs, priorities set by sales team, audit trails for quotes, take quotes from Reinsurer within required timelines.
• Suggest any gaps and areas of improvement in existing quote process based on sales feedback