Actuarial Analyst

Actuarial Analyst – L&H India

Position: Actuarial Analyst

Level: Associate

Location: Mumbai, India

Reporting to: Senior Pricing Actuary

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 the development of innovative products for clients in the region.

The role involves supporting the 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 of 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.
2. 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.
3. Strategy, Product Development and Brand Presence
• Contribute to technical, research, and project management input for product development initiatives.
• Assist in assessing the impact of regulatory, market, and industry developments on pricing and product structures, particularly within India and the region.
4. Collaboration
• Work closely with senior actuaries and cross-functional teams, contributing to regional and global projects as appropriate.
• Contribute to regional and cross-border projects, collaborating with global teams and sharing best practices.

Qualifications & Requirements

• Minimum 7 exam credits (under a recognized actuarial body - SOA/CAS/IFOA/IAI/FOA/FIA) with a bachelor's degree in actuarial science, Mathematics, Statistics, Economics, or equivalent.
• 5–7 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. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients.

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.