Manager – Group Pricing

A leading life insurance company is seeking a strategic Manager – Group Pricing to join its actuarial team in Gurgaon. In this critical role, you will lead a team of 4 to 5 members responsible for providing quotations for group business. Furthermore, you will manage pricing for Employer-Employee group term life and Group Credit business lines. Consequently, this position is vital for driving profitable growth and ensuring competitive product positioning in the market.

The Manager – Group Pricing must engage with reinsurers to secure the best terms for various group quotations. Additionally, you will assist in finalizing new reinsurance treaties and ensuring full regulatory compliance with IRDAI. Therefore, the company is looking for a professional with at least 5 to 6 years of experience in group pricing. If you have sound knowledge of MS Excel, VBA, and R programming, this Manager – Group Pricing role offers a premier leadership opportunity.

Key Responsibilities for the Manager – Group Pricing

• Manage end-to-end quotations for Employer-Employee group term life business.
• Oversee pricing for Microfinance group affinity business and complex Group Credit Business.
• Engage with reinsurers to negotiate and obtain the best terms for all group business quotes.
• Assist in the finalization, documentation, and regulatory filing of new reinsurance treaties.
• Perform regular analysis of written business and publish loss ratio reports for leadership.
• Lead the pricing of new group products and prepare required IRDAI and PMC documents.
• Develop Benefit Illustrations and calculators for new product setups and support system UAT.
• Maintain the group governance framework and compliance checklists for internal and external audits.
• Liaise with Product, IT, and Operations departments to ensure efficient project management.
• Manage and mentor a group pricing team of 4 to 5 members while reporting to the Pricing Actuary.

Requirements and Qualifications

• Bachelor’s degree in a relevant field (Mathematics, Statistics, or Actuarial Science).
• Progression in passing actuarial exams is considered a significant added advantage.
• Minimum of 5 to 6 years of working experience specifically in the group pricing team of an insurer.
• Experience in pricing group business quotations within a life insurance or reinsurance company.
• Sound technical knowledge of advanced MS Excel, VBA, and R programming languages.
• Knowledge of actuarial software such as Prophet and DCS is considered a strong plus.

Core Competencies and Skills

• Conceptual thinker with strong analytical skills and a high level of attention to technical detail.
• Proven data management skills with the ability to handle multiple projects simultaneously.
• Strong communication and business skills to contribute directly to organizational results.
• Ability to lead a team effectively while maintaining high standards of work ethics.

If you are an actuarial professional ready to drive the Manager – Group Pricing function for a premier insurer, we encourage you to apply today!