Job ResponsiblitiesAssist in designing new product structure Pricing and modelling of productsProviding resolution on IRDAI queriesHelping JuniorsFiling on New and Existing Product on IRDAI Portal Providing Support to other functionsDetermining Surrender scales

I worked with Product Oversight EMEA Team. I am responsible for the independent peer review of Pricing Initiatives in Europe and Middle East region, for products that are newly issued, refreshed or repriced.Key reporting regimes on which I have worked on are Solvency II and Solvency I.I have mainly worked on following products: Endowment insurance, Term assurance, Universal Life Products, Accidental and Health product.Key roles and Responsibilities:➢ Prepare the scope document… Show more I worked with Product Oversight EMEA Team. I am responsible for the independent peer review of Pricing Initiatives in Europe and Middle East region, for products that are newly issued, refreshed or repriced.Key reporting regimes on which I have worked on are Solvency II and Solvency I.I have mainly worked on following products: Endowment insurance, Term assurance, Universal Life Products, Accidental and Health product.Key roles and Responsibilities:➢ Prepare the scope document, which defines the approach, priority and actions to be taken under the independent review.➢ Verify the suitability of model points to represent expected business mix.➢ Validate the calculations and methodologies adopted in excel models received from Product team for appropriateness.➢ Following components are validation in the model:1. Value of New2. Internal Rate of Return 3. Payback Period4. Required Capital and Reserves Cost of Capital5. Risk Margin6. Present value of Future Profits New Business Strain➢ In case of any inconsistency found, impact assessment is done to highlight the materiality of the issue.➢ To examine the results following checks are performed:o Profitability of different cohorts (policy size, product type, gender, smoking status, etc.)➢ Prepare peer review report for Chief Actuary of the region, which includes our overall assessment of the product and its associated risk. Show less