The Actuarial Pricing Specialist is responsible for developing and maintaining pricing models, evaluating risks, and ensuring pricing strategies align with the company's financial goals. This role involves establishing competitive and profitable pricing for insurance products, managing risk, and ensuring compliance with regulatory requirements.
Duties: - Develop & Maintain Pricing Models: Create and update pricing models for insurance products based on data analysis.
- Evaluate Risk & Profitability: Assess risks and profitability for new and existing products.
- Collaborate with Teams: Work with underwriting, product development, and sales to align pricing with business goals.
- Ensure Regulatory Compliance: Ensure pricing follows industry regulations and company policies.
- Report & Document: Prepare reports on pricing assumptions, methodologies, and portfolio performance.
- Validate Models: Regularly test pricing models to ensure accuracy and relevance.
- Improve Processes: Continuously improve pricing practices, tools, and technology.
Educational Qualifications: - Bachelors Degree in Actuarial Science, Mathematics, Statistics, Economics, or related field.
- Progress towards actuarial exams (e.g., ASA, ACAS) preferred.
Experience: - Minimum 3 years of experience in actuarial pricing or a related role, preferably in insurance (life, health, property & casualty).
- Familiarity with pricing models and actuarial software (e.g., Excel, R, Python, SAS, Prophet).
