Job Description
Job Description
Position Title: Assistant Manager – P&C Product Pricing
Designation Level: M2/M3/M4 (Assistant Manager / Deputy Manager / Manager)
No. of Positions: 1
Location: Mumbai
Function: Actuarial – P&C Product Pricing
CTC: Up to ₹12 LPA
Preferred Industry: General Insurance
Role Overview
This role involves end-to-end pricing of general insurance products using statistical techniques, supporting product design and development, and ensuring compliance with regulatory requirements. The candidate will play a key part in creating, refining, and maintaining robust pricing models, while collaborating across functions to deliver actuarially sound products.
Responsibilities
Propose and develop rating structures and pricing for retail P&C insurance products using techniques like Generalized Linear Models (GLM).
Collaborate in the development and enhancement of new products alongside stakeholders from product, underwriting, and actuarial teams.
Build and maintain pricing models using Excel, EMBLEM, and other relevant platforms.
Ensure pricing models are technically sound and well-documented, with appropriate assumptions and validations.
Conduct profit testing and sensitivity analysis, summarizing insights for decision-makers.
Prepare documentation including pricing reports, F&U notes, and IRDA filing support.
Review and finalize assumptions for pricing models and obtain necessary internal sign-offs.
Drive technical pricing dashboards and support data analytics initiatives.
Maintain high standards of model accuracy, auditability, and compliance.
Take ownership of pricing outputs before further review and regulatory submission.
Required Qualifications & Experience
Minimum of 6 Actuarial exams cleared.
3–5 years of experience in general insurance or actuarial consulting, preferably in motor or health product pricing.
Proficiency in statistical tools like EMBLEM, R, SAS, SQL Server is preferred.
Understanding of the Indian general insurance market and regulatory environment is a plus.
Key Skills & Competencies
Strong analytical and problem-solving ability
Detail-oriented with a focus on accuracy and compliance
Innovative mindset with a flair for improving technical pricing frameworks
Strong verbal and written communication skills
Ability to work independently and manage multiple priorities
Technical expertise in insurance pricing and data analytics
