Bajaj Allianz General Insurance Hiring for Assistant Manager Actuarial at Kumardungi, Jharkhand, India

• 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 BAGIC
• 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 IRDA.
• 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