P&C Underwriting Analyst, Senior Associate

About the Role

A career within Actuarial Services offers the opportunity to contribute general insurance advice and consulting services to clients, including insurers, banks, regulators, and third-party administrators. Services cover solvency, economic capital, risk management, mergers and acquisitions, company restructuring, risk control, financial modeling, underwriting, new legislation, and the efficiency of claims or reporting processes.

As a Senior Associate, you will be part of a team of problem-solvers addressing complex business issues from strategy to execution.

Key Responsibilities

• Prepare insurance underwriting and pricing business requirements for conversion to modern cloud-based technology.
• Meet with clients and review their existing rating and underwriting processes and rules.
• Review insurance rule manuals from standards organizations such as Insurance Services Office (ISO) and National Council of Compensation Insurance (NCCI).
• Apply knowledge of insurance products and rating formulas to document new underwriting and rating rules.
• Provide work results to a developer for coding into a new system.
• Participate in quality assurance of results, checking calculated premiums from the new system against expectations and identifying and quantifying the source of any differences.
• May be involved in other consulting projects including financial reporting, capital reporting, product pricing, merger and acquisition activities, and operational and organizational consulting.
• Prepare deliverables within stringent deadlines.
• Participate actively in team and client discussions and meetings.
• Keep leadership informed of progress and issues.
• Consistently demonstrate creative thinking, individual initiative, and timely completion of assigned work.
• Contribute to the development of your own and team’s technical acumen.
• Demonstrate teamwork dynamics by understanding personal and team roles, contributing to a positive working environment by building solid relationships with team members, and proactively seeking guidance, clarification, and feedback.
• Engage in continuous training and proactively learn new processes.

PwC Professional Skills for this Management Level

• Use feedback and reflection to develop self-awareness, personal strengths, and address development areas.
• Delegate to others to provide stretch opportunities, coaching them to deliver results.
• Demonstrate critical thinking and the ability to bring order to unstructured problems.
• Use a broad range of tools and techniques to extract insights from current industry or sector trends.
• Review your work and that of others for quality, accuracy, and relevance.
• Know how and when to use available tools for a given situation and explain the reasons for the choice.
• Seek and embrace opportunities that provide exposure to different situations, environments, and perspectives.
• Use straightforward communication, in a structured way, when influencing and connecting with others.
• Able to read situations and modify behavior to build quality relationships.
• Uphold the firm's code of ethics and business conduct.

Requirements & Tech Stack

• Bachelor’s in Finance/Economics/Mathematics/Statistics (B.Com, B.A (Economics), B.Sc. with Economics / Mathematics / Statistics Hons) or any other relevant degree.
• Demonstrated ability and/or a proven record of success with advisory agencies (ISO/NCCI/AAIS), personal, commercial, and specialty product offerings, the insurance contract, product model details, policy administration processes, regulatory and compliance agencies, and related business functions.
• Demonstrated thorough abilities and/or a proven record of success in project activities such as:
• Writing and designing process maps.
• Preparing business requirements, documenting ‘As Is’ and ‘To Be’ processes, and delivering process flows.
• Coordinating project input.
• Formally documenting functions.
• Writing process documentation.
• Making prompt and practical business decisions.
• Demonstrated thorough abilities and/or a proven record of success in insurance business applications such as:
• Policy administration.
• Enterprise data warehouse.
• Document management systems (production, imaging, storage) - as a functional user or as a business system analyst.
• Advance knowledge on Microsoft Office especially Excel.
• Fluent written and verbal English communication skills.

Qualifications

• Required certification or progress towards one of AICPCU Certifications:
• Chartered Property & Casualty Underwriter (CPCU)
• Associate in Risk Management (ARM)
• Associate in Claims (AIC)
• Associate in Underwriting (AU)
• Associate in Reinsurance (ARe)
• Associate in Insurance (AINS)
• Preferred Certifications or experience in one of vendor business applications:
• e.g., Guidewire (strongly preferred), Duck Creek, MajescoMastek, EIS, Exigen, CSC or One Shield.
• Preferred certification as a Certified Business Analyst (CBAP) or Certification of Competency in Business Analysis (CCBA).
• Preference for pursuing Membership / Associateship of the Institute and Faculty of Actuaries / Institute of Actuaries of India (or equivalent).
• Preferred knowledge of Data Analytics – Python, SQL.

Strong Preference for Working Schedule From 2:00 PM to 10:00 PM IST.