Manager – Pricing

A leading life insurance company is seeking a strategic Manager – Pricing to join its actuarial team at the Corporate Head Office. In this pivotal role, you will be responsible for reviewing product specifications for new offerings and ensuring all pricing models align with internal guidelines. Furthermore, you will lead the preparation of critical filing documents for IRDAI and the Product Management Committee (PMC). Consequently, this position is vital for driving the successful launch of innovative insurance products while maintaining strict regulatory compliance.

The Manager – Pricing must be adept at using Excel and creating macros for premium rate generation and profit testing. Additionally, you will perform detailed analysis of both individual and group pricing models to support business goals. Therefore, the company is looking for a professional with 4 to 6 years of actuarial experience, specifically within a pricing function. If you have a strong understanding of actuarial principles and a positive team-oriented attitude, this Manager – Pricing role offers a premier leadership opportunity.

Key Responsibilities for the Manager – Pricing

• Review detailed product specifications for new insurance products to ensure viability and compliance.
• Develop and maintain pricing models that adhere to company guidelines and relevant IRDAI regulations.
• Prepare comprehensive filing documents and technical responses to queries from the IRDAI and PMC.
• Perform rigorous analysis of individual and group pricing models to optimize premium structures.
• Utilize advanced Excel skills and macros to automate premium rate generation and conduct profit testing.
• Assist the Product team in the technical setup and system integration for new product launches.
• Foster meaningful relationships with stakeholders in Sales, Investments, IT, Legal, and Compliance.
• Provide expert support in other areas of actuarial work on a need-to-basis to meet department goals.
• Manage and mentor a small team of 2 to 3 reportees to ensure high-quality technical output.
• Ensure the accurate and timely delivery of all assigned work items in line with project calendars.

Requirements and Qualifications

• Minimum of 4 to 6 years of experience in the actuarial field, with mandatory experience in pricing.
• Strong understanding of core actuarial principles and their practical application in insurance.
• Advanced proficiency in Microsoft Excel (including VBA/Macros) and Microsoft Word.
• In-depth knowledge of current IRDAI regulations, circulars, and industry guidelines.
• Proven ability to manage a team and coordinate effectively across multiple corporate functions.
• Excellent analytical skills with a high level of attention to detail and technical accuracy.

Key Performance Indicators (KPIs)

• Accuracy and completeness of all pricing models and regulatory filing documentation.
• Timely delivery of assigned tasks to support scheduled product launches and internal reviews.
• Effectiveness of stakeholder management and cross-functional collaboration.
• Quality of team management and the development of junior actuarial staff.

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