- Create prophet models of new products and modify the existing prophet models for revised version of existing products
- Identify and incorporate changes and refinements to existing models both on Excel and Prophet
- Liaise with pricing team to understand the modelling approach of new products.
- Close coordination with other corporate actuarial team members to understand their modelling requirements
- Assess and prepare responses for the queries received from other teams regarding changes made in Prophet.
Measure of Success :
- Timely delivery of the results to enable reports and analysis to be prepared as per business requirements;
- Reporting of work with minimal errors through thorough checking of the Prophet models;
- Clear communication of results covering various aspects of the analysis undertaken.
Essential qualifications and experience :
- Student member of the Institute of Actuaries of India OR Institute and Faculty of Actuaries, UK
- 5+ CT actuarial exams, CT 5 Mandatory
- 1-2 years of experience in a life insurance company / consultancy.
- Minimum 1 year of hands on experience on Prophet and its applications
Primary Interactions: -
- Internal – The Appointed Actuary, Other Actuarial teams in Max Life, Finance, Operations, IT
Knowledge and skills required :
- Ability to perform a result oriented, technical analysis and ability to perform under pressure of deadlines, as and when required.
- Strong communication skills – clear articulation of key messages arising for a technical work for the reviewer
- Ability to work in a team as well as independently as and when required
- Good understanding of cash flows of life insurance products
- Knowledge of working with PROPHET actuarial software.
- Proficiency in MS Excel, MS Word, MS Power point and Prophet
Salary: INR 3,00,000 - 4,50,000 PA.
Functional Area: Financial Services
Role Category: Life Insurance/Financial Services
Role: Actuary Manager
Employment Type: Full Time, Permanent
Max Life Insurance Company Limited
Max Life Insurance, the leading non-bank promoted private life insurer, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is part of the Max Group, which is a leading Indian multi-business corporation, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the leading insurers in the world. Max Life Insurance offers comprehensive long term savings, protection and retirement solutions through its high quality agency distribution and multi-channel distribution partners. A financially stable company with a strong track record over the last 17 years, Max Life Insurance offers superior investment expertise. Max Life Insurance has the vision 'To be the most admired life insurance company by securing the financial future of our customers'. The company has a strong customer-centric approach focused on advice-based sales and quality service delivered through its superior human capital.
During the Financial Year 2016-17, Max Life Insurance achieved gross written premium of Rs.10,780 crore and had sum assured in force of Rs.3,77,572 crore. As on 31st March 2017, the company had Rs.44,370 crore of Assets Under Management and the share capital including reserves and surplus of Rs. 2,506 crore. The Company has more than 32 lakh customers serviced by its 9,446 employees and 54,283 agent advisors through 210 offices across the country.
Vision - To be the most admired life insurance company by securing the financial future of our customers.
We are an honest life insurance company, committed to doing what is right.
We serve our customers through Long Term Savings, Protection and Retirement Solutions, delivered by our high quality Agency and Multi Channel Distribution Partners
We are a business with strong social relevance and contribute to society by supporting cause in health and well-being.