4 Group Pricing Jobs

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

As a Manager/Senior Manager in Group Pricing & Quotation at Pramerica Life's Actuarial Department based in Gurgaon - Head Office, you will be responsible for overseeing and managing the pricing and quotation processes for group policies. To be successful in this role, you should have a minimum of 5-6 years of work experience, with at least 1-2 years specifically focused on Group Pricing or Reinsurance within an Indian life insurance or Reinsurance company. Additionally, you should have a solid background of 3-4 years in any actuarial sub-function of a life insurance or reinsurance company. Experience in team management is essential for this position as you will be leading a team of professionals in the Actuarial Department. Strong and clear communication skills are also crucial as you will be interacting with various stakeholders to ensure accurate pricing and quotations for group policies. Preferably, the ideal candidate would have cleared 5-6 actuarial exams, demonstrating a strong understanding of actuarial principles and practices. This role offers an exciting opportunity for a seasoned professional to contribute to the growth and success of Pramerica Life's Actuarial Department.,

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. Experience Requirement: 1-2 years of work experience in Actuarial Pricing preferably in pricing of Group Credit Life and GTL Quotes of Life Insurance The candidate should: Have completed at least 4-5 actuarial papers and making rapid exam progress; Possess basic understanding of general actuarial principles, insurance industry and financial data; Be proactive at work, and has tendency to learn and excel; Possess strong verbal and written communication & interpersonal skills; Be proactive in taking responsibilities Possess excellent analytical skills Should have handson experience on MS Excel and VBA

Role Details: Department: Actuarial Pricing (Group) Employment Type: Permanent Key Focus areas: Generate Quotation for Credit Life, MFI, Group Term Products Attending to scheme related queries from sales, Product and other departments. Preparation of calculators to aid scheme set up. Monitoring the mix of scheme portfolio and give insights to seniors in the team. Evaluate various reinsurance quotes and maintaining reinsurance relationship. Maintain Group MIS Ensure to meet the deliverable timelines. Qualifications & Competencies: Graduate/post-graduate. 0-2 years of work experience in the Actuarial team (Group pricing preferably) of a life insurance company 3 to 5 Actuarial papers (non-mandatory) Good understanding of life insurance products. Understanding of product related regulation and regulatory environment Good Knowledge of MS Excel & VBA. Good communication skill.