Actuarial General Insurance Pricing

Job Description

We are seeking actuarial professionals to join our team. This role will be pivotal in leading statutory forecasting, supporting reinsurance transactions, and shaping valuation methodologies for new product development and regulatory changes. The ideal candidate will possess deep expertise in US/ UK Statutory frameworks, actuarial modeling, risk and cross-functional collaboration. 

General Requirements:

• Solid foundation in mathematics, probability, and statistics.
• Understanding of commercial insurance business.
• Knowledge of underwriting processes and insurance pricing methodologies (both traditional and innovative).

Mandatory Requirements:

• Hands-on experience in pricing for both short-tail and long-tail classes of commercial insurance (e.g., property and liability lines).
• Experience in pricing model development using exposure and experience rating methodologies.
• Strong understanding of loss development factors (LDFs), increased limit factors (ILFs), and loss curves.
• Ability to analyze, review, and adjust ILF/loss curves, including impact analysis.
• Experience in building pricing tools/raters using Excel or Rulebook.
• Proficiency in frequency, severity, and loss cost modeling.

Job Descriptions:

Data Engineer:

Provide expertise in design, engineering, deployment and troubleshooting of the data warehousing and business intelligence environments. Have specialized knowledge in various ETL (Extract, transform, load) tools  such as Cognos, Informatica, Abinitio and Hyperion.  The applicability of this function is both internal and external where incumbents interact with management teams to understand specific reporting requirements and drive optimized solutions. 

Actuarial Pricing:

Role: Commercial Lines- General Insurance Pricing(General Liability, Professional Indemnity, Directors & Officers, Financial Lines is more preferred)

General Requirements:

1.       Knowledge of mathematics, probability, statistics and Commercial Insurance business - (General Liability, Professional Indemnity, Directors & Officers, Financial Lines)

2. Knowledge of Underwriting process and Insurance pricing methodologies 

3. Knowledge of different components that goes into Commercial lines Pricing Tool or Rater
 

Mandatory Requirements:·        

Expertise in Excel formulas and VBA skills to build User-friendly features in Pricing tool·        

Work experience in building and managing array of Pricing tools/ Raters across multiple commercial lines business·        

Expertise in tear-down analysis of any given rater, and make comparative study of rates and ILF curves used between different regions·        

Change management of rates and implement version control process·        

Adhere to best practices and diligently follow the protocols in testing the rater, deploying the rater and communication to the Underwriters·        

Excellent Communication skills to maintain good rapport with Underwriters and deliver demonstration to Underwriters and other users·        

Experienced in performing actuarial analysis such as Claims experience Study, LDF analysis, ILF analysis would be a value add·        

Experience in reviewing Rate Adequacy of Portfolio, performing model reviews and proposing rate changes on yearly basis would be a value add

Data Scientist:

Professionals in this group are responsible for developing large scale & high impact analytical /data science products to understand & derive insights from structured and unstructured data using scientific methods, processes, algorithms, and systems. They build metaheuristic algorithms to derive optimal data insights, multi-level forecasting algorithms to predict user trends and are responsible foor implementing of end to end data science products. They should have extensive knowledge & experience of data & machine learning algorithms (such as decision Trees topic, modelling, regression), deep learning algorithms ( such as CNN, RNN  & LSTM’s) and statistical libraries, (such as TerasFlow, Keras, Pytorch etc.) They should have hands on experience on techniques, such as user profiling, optimization, optimization, pattern mining, / detection, classification, regression modelling, recommender systems & deep learning models etc.

Data Visualization:

Use visualization tools and software to communicate and present large amounts of information in ways that are universally understandable or easy to interpret and spot patterns, trends and corelations.

Work closely with Ui/UX teams, Business Analysts, Data Scientists, and Data Analysts to help transform and integrate data depending on the business requirements.

To communicate informations clearly and efficiently, use statistical graphics, plots, information graphics and other tools.

Should have experience in working on multiple DV tools, such as Tableau, Qliksilver, Datawrapper, PowerBi etc

ETL Developer:

Position Overview

This would be a part of our data engineering team. The ideal candidate will be proficient in SQL, SSIS, and Power BI, with a strong background in designing, developing, and maintaining ETL processes. Prior experience in the insurance domain is preferred, as it will help in understanding business data models and reporting requirements.

Key Responsibilities

• Write and optimize complex SQL queries to extract and manipulate data.
• Work with SQL Server to manage database objects, indexes, and performance tuning.
• Design, develop, and maintain ETL workflows using SQL Server Integration Services (SSIS).
• Optimize and troubleshoot SQL queries, stored procedures, and data pipelines for performance and reliability.
• Collaborate with business analysts and stakeholders to translate requirements into technical solutions.
• Develop and maintain Power BI dashboards and reports to support business decision-making.
• Ensure data quality, consistency, and integrity across multiple systems and sources.
• Work closely with cross-functional teams to support data migration, transformation, and integration projects.
• Document ETL processes, data mappings, and workflows for knowledge sharing and compliance.
• Stay updated with emerging data integration and visualization technologies to recommend improvements.

Required Skills & Qualifications

3–5 years of hands-on experience in ETL development.

• Strong expertise in SQL Server (queries, stored procedures, performance tuning).
• Proficiency in SSIS for ETL workflows and automation.
• Proficiency in Python for data manipulation and scripting.
• Experience in Power BI for building interactive dashboards and reports.
• Solid understanding of data warehousing concepts and best practices.
• Strong analytical and problem-solving skills with attention to detail.
• Excellent communication and collaboration skills.
• Preferred: Knowledge of insurance domain data models (claims, policies, underwriting, etc.).

Preferred Attributes

• Ability to work independently and in a team-oriented environment.
• Strong business acumen with the ability to connect technical solutions to business needs.

Underwriter:

Job Description

• 3–5 years of hands-on experience in General Insurance underwriting
• Working closely with Underwriters of the North American Region for a global multiline insurer to support the business.
• We are looking for individuals with at least three years of experience in insurance operations who are customer-focused, pay great attention to detail, and have a proactive attitude towards problem-solving.
• Stakeholder management and delivery management will be key responsibilities. Experience in case pricing would be helpful, along with knowledge of pricing elements such as exposure rating, experience rating, use of ILF, LDFs, etc.
• The role requires interpreting loss reports and submission details for general insurance business to support underwriting decisions across primary, umbrella, and excess accounts.
• The role also involves supporting underwriting tasks such as reviewing risk requests, conducting risk assessments, processing loss reports, generating quotes, and handling endorsements for general insurance business.
• The candidate will be responsible for spearheading the entire process by setting up standard operating procedures and reviewing adherence.
• The individual will perform quality checks at various stages to ensure work quality across processes. 
• The role requires engagement in discussions with underwriters and keeping the manager informed as necessary to manage challenges and workload while maintaining account SLAs.
• Participation in internal training sessions and reviews of performance standards, metrics, and controls applicable to the process is also expected.

Qualifications

• Proficient in predictive analytics methodology and its application in the insurance industry.
• Graduation/Post graduation in Stats/Maths/Actuarial science
• Cleared actuarial exams preferred - ST-8 (General Insurance Pricing) from Actuarial Science curriculum

Additional Information

• Familiarity with actuarial tools such as EMBLEM/RADAR.
• Experience with data mining or statistical tools such as SAS, R, or Python.
• Knowledge of automation techniques using VBA macros.
• Background in ST-8 (General Insurance Pricing) from Actuarial Science curriculum.
• Experience in Generalized Linear Models (GLM) for frequency and severity modeling.