Job Description
Product Pricing and filing
Gathers data from various stakeholders and analyzes historical data/ risk parameters/ expected loss cost / loss ratio calculations/other metrics to assist in pricing of various products so as to maintain desired profitability for BGIL.
Responsible for analyzing inputs and deriving the pricing for tenders floated under government schemes
Responsible for analyzing inputs and deriving the pricing for retail products/large business quotes
Providing inputs on new (including revisions) product design and structure
Collaborating with concerned stakeholders such as underwriters, marketing, product development etc. with regards to the pricing and filing the same with IRDAI.
Prepare technical documents related to pricing
Review all documents being signed by Appointed Actuary and then filed with IRDAI for accuracy and consistency.
Portfolio Monitoring and Analysis
Analyze existing retail portfolio performance on key factors by creating KPI reports for the same
Creating specific reports as an when required by other stakeholders UW/ Marketing/claims
Provide support w.r.t. profitability review, projections of experience and renewal decisions
Analysis And Adhoc Requirements
Uses market data to carry out competitor analysis, trend analysis, and price benchmarking
Assist in the development of pricing/distribution tactics that maximize profitability for target volumes
Collaborate with the product development team in product filing
Assistance with logics for system development different products
Provide Support in a wide range of potential exercises relating to: analyzing the results and performance of products, reinsurance tenders, product development and other actuarial work.
Assist Fraud Investigation Team with logics to develop or improvise fraud detection models
Provide logics to MIS to ensure various stakeholders (UW/ claims/ marketing/product) get the reports they require
Analyse IIB data prepare reports and share it with Management/ various stakeholders
