Manager/Senior Manager - Pricing & Profitability

Role & responsibilities

1. VNB Testing & Analysis

• Perform periodic testing of VNB results across products, channels, and segments.
• Validate actuarial models used for VNB calculation, including cashflow projections, discounting, and cost of capital.
• Review assumptions (mortality, morbidity, lapses, persistency, expenses, interest rates) impacting VNB.
• Conduct sensitivity and scenario testing (interest rate shocks, lapse rate variations, channel/product mix shifts or any other assumption changes).

2. Profitability Assessment

• Evaluate product profitability at both product and portfolio levels.
• Analyse channel-wise profitability, cost ratios, and margin contributions.
• Partner with Product, Sales, and Finance and Actuarial teams to identify levers for profitability improvement.
• Recommend design/structural changes in products and propositions to optimize profitability.

3. Business Reporting & Monitoring

• Prepare regular VNB reports for management, highlighting key drivers and variances.
• Track and report VNB Margin (VNB / APE) across periods and benchmark against industry peers.
• Support quarterly/annual investor presentations by providing insights on VNB and profitability.

4. Governance & Control

• Ensure compliance with IRDAI regulations, actuarial standards, and internal audit requirements.

Implement control checks and reconciliation between VNB reports, actuarial models, and financial statements

Key Skills & Competencies

• Strong understanding of life insurance products, pricing, and profitability levers.
• Knowledge of actuarial modelling and valuation methodologies.
• Proficiency in -
• Excel: Necessary
• SQL, and BI tools for data validation and analysis: Desirable
• Strong analytical and problem-solving skills.
• Strong communication skills; ability to communicate technical results to non-technical audiences