Tags: Actuarial, Pricing, Prophet
Role Title: Senior Manager – Pricing
Employer: Leading Life Insurance Company
Required Experience: 7–10 Years
Location: Mumbai
Date published: 26 March 2026
A Leading Life Insurance Company is seeking an analytical Senior Manager – Pricing to join its actuarial team in Mumbai. In this critical role, you will be responsible for developing and implementing pricing strategies for individual life insurance products. Furthermore, you will lead the actuarial modeling process and ensure that all product filings are accurate and regulatory compliant. Consequently, this position is vital for driving the company’s profitable growth and maintaining its competitive edge in the market.
The Senior Manager – Pricing must possess deep technical expertise in Prophet and Excel modeling. Additionally, you will collaborate with cross-functional teams like Product, IT, and Finance to ensure seamless product launches. 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 a strong understanding of IRDAI regulations and product cash flows, this Senior Manager – Pricing role offers a premier technical career path.
Key Responsibilities
- Develop and maintain accurate pricing models for individual life insurance products.
- Ensure all actuarial cash-flow projections and pricing assumptions are robust and documented.
- Lead the preparation and review of technical filing documents for submission to IRDAI.
- Conduct market benchmarking and competitor analysis to inform product design and pricing.
- Monitor product profitability (VNB/Margins) and recommend repricing or design changes as needed.
- Collaborate with IT and Operations for system set-up and UAT of new product features.
- Liaise with reinsurers to obtain pricing support and negotiate treaty terms.
- Interact with experience analysis teams to refine underlying actuarial assumptions.
- Mentor junior actuarial analysts and build internal technical capabilities.
- Manage departmental quality assurance procedures and maintain auditable model workings.
Requirements and Qualifications
- Qualified Actuary or close to qualification (passed all CT papers plus SP/CP papers).
- 7 to 10 years of experience in a life insurance actuarial function.
- At least 2 years of experience specifically in individual life product pricing.
- Advanced technical skills in Prophet, Excel VBA, and R or Python.
- Deep understanding of IRDAI product filing guidelines and the Indian insurance market.