Head – Product Pricing (Actuarial)

A leading life insurance company is seeking a highly skilled and detail-oriented Head – Product Pricing (Actuarial) to join its team in Mumbai. In this senior role, you will lead the end-to-end pricing, regulatory filing, and lifecycle management of diverse life insurance products. Furthermore, you will work closely with the Appointed Actuary to ensure all offerings align with business strategy and regulatory requirements. Consequently, this position is vital for driving innovation and maintaining compliance in a dynamic insurance landscape.

The Head – Product Pricing must possess deep actuarial expertise to manage the complete product filing process with the IRDAI. Additionally, you will monitor market trends to identify product gaps and design responsive business solutions that close competition deficits. Therefore, the company is looking for a Qualified Actuary with extensive experience in life insurance pricing and stakeholder engagement. If you have a proactive mindset and proficiency in actuarial modelling tools, this role offers a significant leadership opportunity.

Key Responsibilities

• Lead end-to-end product pricing for all life insurance offerings to ensure strategic alignment.
• Manage the full product filing process with IRDAI, including documentation and coordination for timely approvals.
• Liaise directly with IRDAI officials to facilitate seamless communication and resolve queries or objections.
• Monitor ongoing regulatory changes and market trends to design responsive product and business solutions.
• Identify critical product gaps compared to competitors and lead pricing strategies to close them effectively.
• Track product performance and business outcomes to deliver actionable insights to senior management.
• Drive necessary modifications of existing products based on market feedback and regulatory needs.
• Collaborate closely with cross-functional teams including Sales, Marketing, Operations, and Compliance.

Requirements and Qualifications

Education and Experience

• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Must be a Qualified Actuary with a strong professional standing.
• Minimum of 12 years of relevant experience specifically in life insurance product pricing.
• Proven track record of managing successful IRDAI product filings and regulatory interactions.
• Deep experience within the Life Insurance (LI) industry is mandatory.

Technical Skills and Competencies

• Strong understanding of IRDAI regulations, product structures, and actuarial modelling techniques.
• Proficiency in actuarial tools such as Prophet, Excel, and SQL is highly preferred.
• Excellent communication skills with a demonstrated ability in stakeholder management.
• Proactive mindset with the ability to drive both innovation and compliance.
• Analytical expertise to track business outcomes and provide recommendations to executive leadership.

What the Company Looks For

• A strategic leader who can translate complex actuarial data into competitive product offerings.
• A meticulous professional dedicated to maintaining 100% accuracy in regulatory documentation.
• A collaborative expert who thrives in a fast-paced environment and manages cross-functional dependencies effectively.

If you are an actuarial leader ready to shape the product strategy for a premier life insurance organization, we encourage you to apply today!