Chief Manager - Insurance Products & Actuarial

Chief Manager - Insurance Products & Actuarial (Pune)

Chief Manager

About the Role

product profitability, actuarial and reserving strategies, technical risk management, and underwriting excellence

Key Responsibilities

• Products & Profitability:

• Evaluate and enhance existing product and pricing strategies, processes, and performance methodologies.
• Develop and refine frameworks for comprehensive product management, from launch through closure, including technical documentation, profitability projections, and breakeven analysis.

• Risk & Actuarial:

• Review and update reserving methodologies to align with global best practices.
• Monitor reserve booking and management, assumption setting, and true-up processes.
• Conduct in-depth research on global reserving best practices, including assumption setting, credibility factors, and governance around assumption management.
• Assess and improve the technical risk management framework and processes, including the risk appetite framework.
• Analyze the risk capital framework, focusing on long-term returns and the relationship between return on capital and return on equity.

• Underwriting:

• Evaluate the current underwriting framework.
• Develop multi-product pricing and underwriting frameworks, including rider attachments.
• Perform detailed analysis of reinsurance treaties, processes for obtaining new treaties, and the accounting and operations of reinsurance management.

• Capital Solutions:

• Identify drivers for product/fund capital consumption and benchmark against market peers in India.
• Propose potential levers to achieve market-leading returns on capital.
• Research innovative global capital optimization solutions and formulate proposals for applicable and permissible solutions within the Indian regulatory framework.

Major Challenges

• Gathering comprehensive internal and external data for industry benchmarking (both India and globally).
• Effective stakeholder management across various departments.

Interactions

Heads of Products, Technical Risk, Underwriting, and FP&A

Qualifications

• Educational Qualifications:

• Minimum

  Bachelor of Commerce

  degree.
• Actively progressing towards becoming a

  qualified insurance actuary

  , with most exams completed.
• Additional qualifications in accounting and/or management are a plus.

• Experience:

• 8+ years of relevant experience

  .

• Mandatory experience in the Life Insurance Industry.

• Prior experience in life insurance capital management is preferred.
• General insurance actuarial experience is a plus.

What We Offer

• A challenging and rewarding role within a leading organization.
• Significant opportunities for professional growth and development.
• A collaborative and dynamic work environment in Pune.