Pricing Actuary Responsibilities and Duties

Posted in Job Responsibilities

Head responsibility for overall pricing process inclusive but not restricted to pricing workflow, accuracy, documentation and reporting etc.

Identify apt pricing assumptions as well as underwriting needs for new and current business.

Evaluate profitability plus risk of existing and new products and it’s features.

Develop and analyze pricing procedures for existing and new business.

Collaborate with varied functional units to ensure all pricing models are latest.

Ensure to capture recent pricing methodologies as discussed within company or actuarial groups or community.

Develop PARP (Product Approval and Review Process) for existing and new products.

Support to develop Value of New Business (VNB) assumptions and Medium Term Plan.

Review VNB experience and identify latest trends gets reflected in pricing.

Interpret and attain expertise of new pricing metrics.

Identify how pricing metrics impact pertinent decisions.

Recommend initiatives to enhance profitability on new as well as existing business.

Perform with financial area to interpret short plus long term GAAP earnings pricing decisions’ implications.

Prepare Actuarial memo as well as state filings’ exhibits.

Supervise and train along with provide career advice to staff of 2-4 employees comprising of actuarial students as well as non-students.

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