Head of Actuarial Pricing and Valuation

A leading health insurance client is seeking a visionary leader for the Head of Actuarial Pricing and Valuation position in Mumbai. In this strategic role, you will lead the actuarial function for diverse health insurance products to drive profitability and strategic growth. Furthermore, you will oversee pricing strategies for retail, group, and specialty health lines while managing reinsurance and solvency. Consequently, this position is essential for navigating the dynamic health insurance landscape in India.

The Head of Actuarial Pricing and Valuation will lead critical IFRS 17 valuation processes and regulatory solvency assessments. Additionally, you will build and mentor a team of talented actuaries while providing professional guidance to CXOs. Therefore, the client is looking for a Fellow Actuary with extensive experience in health pricing and IRDAI regulations. If you are a strategic thinker with deep analytical expertise, this role offers a significant opportunity to influence the organization’s financial success.

Key Responsibilities

• Develop and implement advanced pricing models for health products by incorporating morbidity trends and claims experience.
• Ensure pricing competitiveness while accurately accounting for expense loadings across all health portfolios.
• Lead actuarial valuation and IFRS 17 processes including CSM calculations and BEL projections.
• Conduct regular valuations reporting and solvency assessments in strict accordance with IRDAI guidelines.
• Perform stress testing for regulatory filings to ensure the financial resilience of health portfolios.
• Analyze market data to forecast utilization rates and optimize the organization’s reinsurance treaties.
• Partner with cross-functional teams like Underwriting and Finance to support successful product launches.
• Ensure 100% audit readiness and compliance for all quarterly reserving and annual statements.
• Provide impactful actuarial insights to the Board and regulators regarding strategic initiatives.

Requirements and Qualifications

Education and Experience

• Fellow of the Institute of Actuaries of India (FIAI) or equivalent (IFoA/SoA) is required.
• Minimum of 10 years in actuarial roles with at least 5 years specifically in health pricing or valuation.
• Proven track record of leading pricing for health insurance products under IRDAI regulations.
• Experience working at a leading Indian insurer or a top-tier actuarial consultancy.

Technical Skills and Competencies

• Advanced proficiency in actuarial modelling and technical IFRS 17 implementation.
• Expertise in claims reserving, experience rating, and complex predictive analytics.
• Deep understanding of IRDAI Health Regulations and regional disease patterns in India.
• Strong leadership skills with the ability to manage and inspire cross-functional teams.
• Excellent communication skills for presenting technical insights to senior stakeholders and boards.

What the Client Looks For

• A strategic thinker with strong business acumen who can adapt to diverse health risks.
• A meticulous professional dedicated to maintaining 100% regulatory compliance.
• A collaborative leader who thrives in a dynamic and evolving insurance market.

If you are a seasoned actuarial leader ready to shape the future of health insurance pricing and valuation, we encourage you to apply today!