Job Description
Position Summary (Comprehensive summary of what the job exists to accomplish)
To prepare pricing models of new products in alignment with the Business requirements as well as Value of New Business margin and profitability requirements of the shareholders, preparing filing documents, participation in product development process and active participation in all critical activities leading to product launch.
Key Accountabilities (A collection of duties and/or responsibilities assigned)
To develop pricing models for new products as well as modifying the pricing models for existing models for modifications in existing products.
To prepare the PAR (sign off by CEO and CIRO) – identification of risks, mitigation plans, assessment of residual risks, assessment of capital requirements both on local and EC basis, assessment of profitability, customer suitability as per ING 5 Golden principles, impact on MTP nos.
To prepare File and use document for regulatory approval (sign off by CEO and CIRO)- brochure, benefit illustration, Terms and conditions and ensuring full and fair disclosures of product features to prospective customers, compliance with local requirements etc.
To develop good understanding of commercial aspects of product development to help complete the above activities taking into account commercial requirements.
Desired Skills & Experience
Skills, Knowledge & Qualifications (Framework required by the position)
Must have cleared at least 5 CT Level Actuarial Exams
2 years of experience in industry and 1-2 years in product development and pricing
Overall business and life insurance industry understanding & knowledge
Sound understanding of business concepts
Strong Functional domain knowledge
Apply Now – Resume or CV with Job Post Title
Email: jobs@aarenconsultants.in
