Joint Vice President

• Job Purpose
  

• Dimensions
  

Dimension

Remarks

• 2.
  

• Job Context & Major Challenges (What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?
  

• Maintaining a balance between profitability and marketability of the product
• Retention / Persistency of renewal book
• Keep updated with latest offerings in the market and be at the forefront of new product offerings
• Principal Accountabilities
  

Accountability

• Ensuring to set the pricing strategy / assumptions / methodology for the group term life line of business
• Pricing model updates from time to time
• Managing stakeholder expectations in terms of premium rates and profitability
• Managing reinsurers & reinsurance solutions for this line of business
  

• Review the business requirements for group products both new products as well as modifications
• Developing, pricing, preparing product documentation, conducting Product Managing Committee meeting, filing with IRDAI, launching products, etc.
• Managing end to end product lifecycle
  

• Evaluating the profitability of funds on quarterly / annual basis
• Declaration of interest rates for traditional products on monthly/quarterly / annual basis, as per product design
  

• Analyzing profitability of the GTL book on regular basis to take relevant decisions on group business
• Analysing the ceded experience to make sure we get competitive reinsurance terms from the reinsurer
• Performing experience studies for Group Term Life business, thereby recommending suitable actionables based on the outcome
  

• All the reinsurance treaties, risk retention limit and other terms and conditions are regularly reviewed.
• Ensure reinsurance terms are competitive and effective.
• Reinsurance risk is diversified.
• Reviewing of treaties and driving the signing process
  

• Driving automation in all aspects of work
• Job Purpose of Direct Reports
• Relationships (If Applicable)
  

Internal

Frequency

Nature