Mumbai

Part Qualified

Associate

Qualified

Life

Health

Property & Casualty

Reporting

Reinsurance

Risk

Python

Modelling

Coding

Pricing

Consulting

Excel

Marketing

The Company OverviewAon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement, and health solutions.Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.Aon India Insurance Brokers Private Limited, licensed since 2017, is a composite insurance broker delivering insurance and reinsurance broking services to corporate clients in India.Aon India has over 500 colleagues across nine locations in India.Job Dimensions (role and responsibilities):<ul><li>Experience in various actuarial pricing techniques such as experience and exposure rating.</li><li>High level of proficiency in dynamic financial analysis (DFA) for the purposes of reinsurance optimization and reinsurance pricing.</li><li>An understanding of the various reinsurance structures to manage risk and implementation of them within the modelling framework.</li><li>Play a proactive role in establishing and upholding actuarial best practice including technical peer review with potential scope to participate on the regional Actuarial Practice Group (APG).</li><li>Take on responsibility as actuarial territorial contact, liaising with clients and colleagues to establish client project objectives and outcomes, and manage these projects.</li><li>Do presentations and conduct training sessions relating to actuarial work and methods, ensuring the effective and efficient communication of concepts and key outcomes to both colleagues and clients.</li><li>Peer review projects undertaken by other team members and provide guidance and mentoring to junior analysts whenever required.</li><li>Provide support around workflow management for renewals including managing and delivering project outcomes for domestic and regional clients.</li><li>Assist in driving improvements in efficiency in actuarial projects aligned with commercial needs and help develop the articulation in delivery of actuarial outcomes.</li></ul>Work location is Mumbai.Need to be a University graduate in Business, Economics, Actuarial Science, or related fields such as Finance or Statistical studies. Actuarial qualification or working towards actuarial qualification is strongly preferred.Minimum 3+ years’ relevant experience in the Non-Life insurance industry working in consulting, product development, marketing, or analytical roles. Reinsurance experience would be a major plus.Key Performance Indicators:<ul><li>Impeccable customer service.</li><li>Developing and maintaining actuarial networks and key relationships.</li><li>Insurance and/or reinsurance pricing and tendering experience.</li><li>Natural taste for tackling challenges and creating new market norms.</li><li>This role offers a great combination of fun and hard work and will bring you a wealth of client-facing experience.</li></ul>Skills and Attitude:<ul><li>Enthusiastic dedication to clients with a winning spirit.</li><li>Self-motivated, holds oneself accountable, and takes ownership for problem resolution.</li><li>Able to prioritize under the pressure of competing deadlines.</li><li>Excellent communication and presentation skills.</li><li>Able to engage and interact within internal and external organizations.</li></ul>

Job SummaryThe job holder will be a member of the SGP&amp;C Specialty Insurance (Single Risks Pricing &amp; Binder) team supporting the Portfolio roll-up process. The Cat Modelling Team is embedded within the Specialty Insurance Single-Risk Pricing &amp; Modelling Team will interpret, communicate, and provide reliable, and accurate CAT (natural and man-made) analytics to underwriting teams and other internal and external Stakeholders.ResponsibilitiesKey duties and responsibilities<ul><li>Perform Portfolio roll-up using third-party catastrophe models with high accuracy and on a timely manner.</li><li>Perform the relevant checks and resolve queries to ensure the accuracy and quality of the portfolio.</li><li>Should be able to identify the movements between the portfolios and able to justify them with sensible commentaries.</li><li>Supporting P&amp;M APACtreaty team with fac and treaty pricing of reinsurance transactions.</li><li>Conduct a thorough analysis of exposure data across multiple lines of business, regions, and products.</li><li>Liaise with internal and external data teams to ensure all modelled policies are captured, that the data is up to date, and data interpretations are accurate.</li><li>Assist in developing a more robust view of the models and components through analysis of catastrophe modelling data and back testing.</li><li>Evaluate and quantify potential risks associated with speciality accumulations, such as natural catastrophes, terrorism, or other relevant perils at both risk and portfolio levels.</li><li>Collaborate with underwriting teams to assess and manage accumulations of risk within defined tolerances.</li><li>Contribution to growth and profitability.</li><li>Internal training for junior staff and new joiners of other departments.</li><li>All other miscellaneous responsibilities as required by management.</li></ul>QualificationsRequired experience &amp; competencies<ul><li>Experience in using RMS and/or AIR modelling software.</li><li>Good communication skills and experience working with underwriters and clients.</li><li>Practical work/programming experience in MS Excel, VBA, R, Python, etc.</li><li>At least 5 years of experience in the CAT modelling Industry.</li></ul>Personal Competences:<ul><li>Strong pragmatic problem-solving capabilities.</li><li>Good team spirit, inter-personal competency.</li></ul>Required Education:<ul><li>University degree in a technical discipline that requires strong analytical and statistical know-how (Geology, Meteorology, Engineering, Mathematics, …).</li></ul>About usSCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art &amp; Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life &amp; Health and Property &amp; Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.

Objective of RoleThe role will be part of the L&amp;H India pricing team taking responsibility for product development and pricing of new Life &amp; Health business to help the region achieve its ambitious growth plans. We aim to do this through better client experience; cutting-edge, better-informed pricing; and supporting development of innovative products for clients in the region.We are a team of 5 members in India, with support from the regional hub. The role involves supporting development of new products and the pricing of the business written in accordance to our technical guidelines.Major Responsibilities<ul><li>New Business Quotes and Tenders
 <ul><li>Lead and support the pricing and modelling of new business; this includes the review on quotes prepared by other team members and authority to sign-off</li><li>Identify and understand clients' needs and concerns</li><li>Collaborate with a cross-functional team of experts from client markets, underwriting and claims towards assessing the risks associated with a particular opportunity</li></ul></li><li>Costing Methodology and Guidelines
 <ul><li>Review pricing guidelines and ensure their correct application</li><li>Able to challenge status-quo and look to simplify and improve existing practices</li><li>Keep up to date with market, regulatory and competitive trends</li><li>Work with Experience Studies team to gain insight into claims and lapse experience</li><li>Ensure pricing guidelines are kept up-to-date via research and experience studies</li></ul></li><li>Strategy, Product Development and Brand Presence
 <ul><li>Contribute to technical, research and project management input for product development initiatives</li><li>Provide strategic inputs in the running of the Swiss Re business in India including implications of regulations, market and industry developments</li></ul></li><li>Leadership
 <ul><li>Support development of the team on technical knowledge and business acumen</li><li>Lead and contribute to regional projects</li></ul></li></ul>Qualifications &amp; Requirements<ul><li>Qualified or close to qualified actuary (under a recognized actuarial body - SOA/CAS/IFOA/IAI/FOA/FIA) with a Bachelor degree in Actuarial Science, Mathematics, Statistics, Economics or equivalent</li><li>Insurance or reinsurance working experience (including consulting); pricing experience, particularly in India and / or across the South East Asian markets is strongly desirable</li><li>Commercial and technical skills in Life &amp; Health product design and pricing</li><li>Demonstrate maturity and flexibility at managing both internal and external stakeholders</li><li>Experience at using and developing pricing tools, is a plus</li><li>Excellent verbal and written communication skills in English</li></ul>

About MillimanMilliman is one of the world’s largest independent professional services firms. Founded in 1947, the firm provides consulting services to clients in four practice areas: healthcare, life insurance and financial services, employee benefits and pensions, and property and casualty insurance. Today, Milliman has more than 60 offices worldwide.Job SummaryMilliman is seeking actuarial professionals with strong analytical, problem-solving, technical and communication skills to join our life practice based in Mumbai.This is an ideal opportunity for actuarial professionals to join and collaborate with our team of experts from across the world in a fast-paced, challenging and rewarding environment.Job Responsibilities:<ul><li>Work closely with a team of consultants based in Asia delivering high-quality work to our clients, working with some of the best actuarial experts in the region</li><li>Work on a diverse range of actuarial projects (actuarial modelling, reporting, pricing, business planning, mergers and acquisitions and many more)</li><li>Contribute to research projects and innovate new solutions to help our clients</li><li>Work effectively and efficiently in project teams led by senior actuaries</li><li>Help develop and maintain client and internal relationships</li><li>Work in a flexible and fast-paced environment</li></ul>Desired experience and professional qualifications<ul><li>2-4 years of relevant actuary experience in the life insurance domain</li><li>Demonstrable progress through actuarial examinations from a recognized professional body/institute.</li><li>Bachelors or Masters in a relevant field (Actuarial Science, Mathematics, Statistics, Economics, etc.)</li></ul>Desired competencies<ul><li>Actuarial domain knowledge of Indian life insurance products are required.</li><li>Strong technical and actuarial modelling skills are required and actuarial coding skills on leading actuarial software are preferable</li><li>Ability to work in a highly collaborative environment as well as independently with minimum supervision</li><li>Ability to take ownership of a technical challenge and see it through to a successful conclusion</li><li>Excellent analytical and communication skills</li><li>Driven and self-motivated</li></ul>Benefits offered<ul><li>Opportunity to work with local and international market experts on a wide variety of projects</li><li>Competitive remuneration and annual performance-based bonuses</li><li>Professional actuarial examination support</li><li>Opportunity for continuous training and development</li><li>Flexible working arrangements</li></ul>

Job Purpose:<ul><li>To facilitate growth of Value Added New Business (VANB) of the allocated clients by assisting in the development of organic growth from existing treaties and supporting the development of organic growth from existing treaties and supporting the development of profitable new reinsurance opportunities.</li><li>To carry out effective portfolio management and profitability of nominated clients’ existing treaties.</li><li>To enhance the overall business relationship with nominated current/potential clients</li></ul>Key Responsibilities:<ul><li>Support the development and implementation of new business opportunities for treaty clients and potential clients, focusing strongly on opportunities that will enhance VANB for Munich Re in India.</li><li>Responsible for the overall client relationship for specified clients and work with other MR departments to ensure growth and profit contribution from specific clients</li><li>Be a Relationship Manager for several clients, identify business development opportunities and facilitate in meeting business targets</li><li>Supporting clients in New Business Initiatives: Conduct client workshops to understand client business philosophy and uncover client product related needs. Thereafter produce product recommendations and capital solutions for clients based on methodical and rigorous analysis.</li><li>Managing existing business: To monitor and manage clients’ treaty business including profitability and risk exposure. Focus on developing organic growth in existing treaties and rehabilitating loss making treaties.</li><li>Document reinsurance terms in quotation/treaties and facilitate final treaty negotiations.</li><li>Highlight the services and offerings Munich Re can provide and ensure MR is the first choice partner for clients. Coordinate internally effectively to ensure maximum client satisfaction.</li><li>Liaise with regional counterparts to share information and expand service offerings to clients.</li><li>Promote Munich Re and its expertise through initiatives including presentations, seminars, client meetings, publications, and surveys. Build individual and Munich Re India visibility in the market.</li></ul>Education:<ul><li>A graduate degree in mathematical subject e.g. pure or applied mathematics, statistics, sciences, economics, finance (Essential)</li><li>Fellow of the Institute of Actuaries / Institute or Faculty of Actuaries in the UK or close to qualifying as an Actuary from the stated institutes and relevant post qualification experience (Preferrable)</li></ul>Competencies:<ul><li>Excellent written and spoken English are required</li><li>5+ years of experience in Actuarial and related fields</li><li>Ability to independently manage interactions with technical actuarial, underwriting, and finance teams and regional stakeholders and external parties</li><li>Superior interpersonal and time management skills</li><li>A solutions-based approach with the ability for complex problem-solving</li><li>Strong analytical abilities including mathematical and statistical concepts</li><li>Strong command of MS Office PowerPoint and Excel required</li><li>Knowledge of data gathering and manipulation techniques and tools such as Access, SQL</li><li>Willing to travel as needed</li><li>Thorough knowledge products and regulations relating to the Indian insurance industry</li></ul>About Munich Re:Founded in 1880, Munich Re Group is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions.As pioneers in risk assessment, we drive the digital transformation of the global insurance landscape, expanding products and services as new forms of risk emerge. From space rocket launches to cyber-attacks, from high net worth individual life cover to pandemics, we take care of risks, so our clients can take care of their business.Across Asia Pacific, Middle East and Africa, we operate life and health and non-life reinsurance as well as primary insurance businesses, providing global career development opportunities and prospects to more than 1900 team members in 20 locations. We started supporting clients in the Indian market in 1951 and established our India Branch in Mumbai in 2017 to service the Non-Life and Life reinsurance markets in India, Sri Lanka and Bangladesh.

We are seeking a highly skilled and experienced Non-Life Actuary to join our team. As a Non-Life Actuary, you will be responsible for analyzing and assessing risks associated with non-life insurance policies. You will use your expertise in statistical modeling and data analysis to develop pricing models, evaluate the financial impact of potential risks, and provide recommendations to senior management.In this role, you will collaborate with underwriters, claims professionals, and other stakeholders to ensure that insurance policies are priced appropriately and that the company's risk exposure is effectively managed. You will also play a key role in the development and implementation of new insurance products and the enhancement of existing products.To be successful in this role, you must have a strong understanding of actuarial principles and methodologies, as well as excellent analytical and problem-solving skills. You should be able to communicate complex concepts and findings to both technical and non-technical stakeholders.Responsibilities:<ul><li>Analyze and assess risks associated with non-life insurance policies</li><li>Develop pricing models based on statistical modeling and data analysis</li><li>Evaluate the financial impact of potential risks</li><li>Provide recommendations to senior management</li><li>Collaborate with underwriters, claims professionals, and other stakeholders</li><li>Ensure insurance policies are priced appropriately</li><li>Manage the company's risk exposure</li><li>Contribute to the development and implementation of new insurance products</li><li>Enhance existing insurance products</li></ul>Qualifications:<ul><li>Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field</li><li>Associate or Fellow of a recognized actuarial professional body</li><li>Strong understanding of actuarial principles and methodologies</li><li>Excellent analytical and problem-solving skills</li><li>Ability to communicate complex concepts to both technical and non-technical stakeholders</li><li>Experience in non-life insurance industry</li><li>Proficiency in statistical modeling and data analysis software</li><li>Strong attention to detail and accuracy</li><li>Ability to work independently and as part of a team</li></ul>If you are a highly motivated and skilled Non-Life Actuary looking for a challenging opportunity, we would love to hear from you. Apply now!

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