Actuarial General Insurance Pricing - Gurgaon/Bangalore (REF80651O)
WNS Global Services
About the role
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 experien