Chief Manager – Product Pricing

A leading life insurance company is seeking a strategic Chief Manager – Product Pricing to join its actuarial team in Mumbai. In this senior role, you will be responsible for managing and mentoring resources in product pricing and regulatory filings. Furthermore, you will develop complex pricing solutions and ensure all cash-flow projections and analysis are reliable. Consequently, this position is vital for designing competitive, customer-centric products that drive sustainable business growth.

The Chief Manager – Product Pricing must maintain cross-functional relationships with IT, marketing, and finance teams for seamless product set-ups. Additionally, you will liaison with reinsurers for product support and ensure all pricing practices comply with IRDAI regulations. Therefore, the company is looking for a professional with 7 to 10 years of experience who is a qualified or near-qualified actuary. If you have strong proficiency in Prophet and Excel VBA, this Chief Manager – Product Pricing role offers a premier leadership opportunity.

Key Responsibilities

• Provide accurate pricing solutions by establishing models and ensuring reliable cash-flow projections.
• Offer strategic feedback on product features to create smart, competitive, and customer-centric designs.
• Manage and mentor a team of actuarial resources, fostering their professional development in pricing.
• Maintain highly auditable model workings with comprehensive documentation and data backups.
• Prepare and review critical filing and reporting documents for regulatory submission.
• Coordinate with IT and Operations for the system implementation and UAT of new product features.
• Interact with risk and experience analysis teams to derive accurate pricing assumptions.
• Liaison with global reinsurers regarding product support and the drafting of treaty documentation.
• Drive continuous process improvements within the pricing department to enhance operational efficiency.
• Monitor market trends and benchmark pricing against competitors to maintain a competitive edge.

Requirements and Qualifications

• 7 to 10 years of experience in a life insurance company, with at least 2 years in individual pricing.
• Qualified Actuary or close to qualification (passed all CT papers plus SP1/SP2/CP1).
• Excellent understanding of actuarial cash flows and complex problem-solving skills.
• Advanced working knowledge of MS Excel, including VBA; experience in Prophet, R, or Python is preferred.
• Thorough understanding of the Indian life insurance market landscape and IRDAI guidelines.
• Strong stakeholder management skills and the ability to innovate in a fast-paced environment.