Job Title: Head of Pricing

Location: Mumbai, India

Role Summary:

The Head of Pricing will lead the development and implementation of pricing strategies for the company's life insurance products. This role involves collaborating with cross-functional teams to design competitive and profitable products, ensuring compliance with regulatory standards, and utilizing actuarial models to assess risk and profitability.

Key Responsibilities:

• Pricing Strategy Development: Formulate and oversee pricing strategies for new and existing life insurance products, ensuring alignment with the company's financial objectives and market competitiveness.
• Actuarial Analysis: Utilize actuarial models to evaluate risk, set pricing assumptions, and determine premium rates that balance profitability with customer value.
• Product Development Collaboration: Work closely with product development, underwriting, and marketing teams to design and launch products that meet customer needs and comply with regulatory requirements.
• Regulatory Compliance: Ensure all pricing activities adhere to the guidelines set by the Insurance Regulatory and Development Authority of India (IRDAI) and other relevant bodies.
• Experience Monitoring: Regularly review product performance and adjust pricing models based on emerging experience, market trends, and competitive analysis.
• Team Leadership: Lead and mentor a team of actuaries and analysts, fostering a culture of continuous learning and professional development.
• Stakeholder Communication: Present pricing recommendations and insights to senior management, effectively communicating complex actuarial concepts to non-technical stakeholders.

Key Requirements:

• Educational Background: Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Professional Qualifications: Fellowship or Associate status with a recognized actuarial institute (e.g., Institute of Actuaries of India).
• Experience: A minimum of 10 years in actuarial roles within the life insurance industry, with significant experience in product pricing and development.
• Technical Proficiency: Strong command of actuarial software and tools used in pricing and risk assessment.
• Analytical Skills: Exceptional analytical and problem-solving abilities, with a keen attention to detail.
• Communication Skills: Proven ability to convey complex actuarial concepts to diverse audiences effectively.
• Leadership Abilities: Demonstrated experience in leading teams and managing cross-functional projects.
• Regulatory Knowledge: In-depth understanding of IRDAI regulations and compliance requirements related to life insurance products.