Senior Manager 2/ Chief Manager

Role & responsibilities

1. Pricing Strategy & Execution

• Develop and implement pricing models for Group Term Life products across various segments (employer-employee, affinity, lender-borrower).
• Collaborate with distribution, underwriting, and product teams to tailor pricing to customer segment needs while ensuring profitability.
• Perform risk-based pricing by evaluating mortality assumptions, group demographics, and industry trends.

2. Profitability Management

• Monitor portfolio-level profitability on a periodic basis (monthly/quarterly).
• Identify and manage blocks that are underperforming and take corrective pricing or underwriting actions.
• Develop and track profitability KPIs like loss ratio, expense ratio, renewal persistency, and pricing adequacy.

3. Data Analytics & Modeling

• Maintain and enhance actuarial pricing models using tools like Prophet, R, Python, or Excel VBA.
• Conduct sensitivity analysis and scenario testing to support business decisions.
• Benchmark pricing against competitors and market trends.

4. Stakeholder Collaboration

• Engage with corporate sales, group underwriting, reinsurance, legal, and finance teams to ensure alignment.
• Support large deal negotiations by providing pricing insights and risk evaluation.
• Work with reinsurers for structuring large deals or complex risks.

5. Regulatory & Compliance

• Ensure adherence to IRDAI pricing regulations and internal actuarial governance policies.
• Maintain proper documentation of pricing files and assumptions for audit and regulatory review.

6. Innovation & Product Enhancement

• Propose innovative pricing constructs (e.g., experience-based rating, graded premiums).
• Analyze customer claims experience and feedback for product improvements.