Description

Location:Mumbai, MH, IN

PRICING ACTUARY - L&H India

Position Pricing Actuary

Location Mumbai

Reporting to Head of L&H Pricing, India

Objective of Role

The role will be part of the L&H India pricing team taking responsibility for product development and pricing of new Life & Health business to help the region achieve its growth plans. We aim to do this through better client experience; cutting-edge, better-informed pricing; and supporting development of innovative products for clients in the region.

The role involves supporting development of new products and the pricing of the business written in accordance with our technical guidelines.

Major Responsibilities

1. New Business Quotes and Tenders

• Lead and support the pricing and modelling of new business; this includes the review on quotes prepared by other team members and authority to sign-off.
• Partner with client-facing teams to understand cedants' objectives, structures, and risk profiles, and translate these into appropriate pricing solutions.
• Collaborate with a cross-functional team of experts from client markets, underwriting and claims towards assessing the risks associated with a particular opportunity.

1. Costing Methodology and Guidelines

• Ensure consistent and robust application of pricing methodologies and governance standards across all transactions.
• Proactively challenge existing pricing approaches and drive simplification, automation, and improvement of tools and processes.
• Monitor market, regulatory, and competitive developments and assess their impact on pricing assumptions and reinsurance structures.
• Collaborate with Experience Studies teams to analyze claims, lapse, and portfolio experience, and incorporate insights into pricing and assumption setting.
• Maintain and enhance pricing guidelines, documentation, and governance frameworks based on research and emerging experience

1. Strategy, Product Development and Brand Presence

• Contribute to technical, research and project management input for product development initiatives.
• Provide strategic inputs in the running of the Swiss Re business in India including implications of regulations, market and industry developments.

1. Leadership
   • Mentor and support junior actuaries, fostering technical excellence and strong commercial understanding.
   • Contribute to regional and cross-border projects, collaborating with global teams and sharing best practices.

Qualifications & Requirements

• Qualified or close to qualified actuary (under a recognized actuarial body - SOA/CAS/IFOA/IAI/FOA/FIA) with a bachelor's degree in actuarial science, Mathematics, Statistics, Economics or equivalent.
• 7-10 years of relevant experience in Life & Health insurance or reinsurance (including consulting), with strong hands-on pricing experience; exposure to reinsurance pricing and the Indian market is highly desirable.
• Solid technical and commercial expertise in Life & Health product pricing and reinsurance structures.
• Strong analytical skills with proficiency in R, SAS, Python, or similar actuarial and statistical tools.
• Proven ability to engage effectively with both internal and external stakeholders, including senior management and clients.
• Experience in developing, enhancing, or maintaining pricing tools and models is an advantage.
• Excellent written and verbal communication skills in English

About Swiss Re

Swiss Re is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.

Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.

If you are an experienced professional returning to the workforce after a career break, we encourage you to apply for open positions that match your skills and experience.

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