At Prudential Health India (PHI), we are on a mission to make Indians healthier, while bridging the health protection gap. This is a Zero to One team undertaking a greenfield health insurance deployment in India committed to building journeys that will truly empathize with the customer and offer a differentiated, uniquely delightful, and bespoke experience.

To support this journey, we are looking for a motivated actuarial qualified to join our Reserving & IFRS team, contributing to the development of robust actuarial valuation and financial reporting capabilities from the ground up.

Actuarial Analyst - Reserving

As an actuarial analyst in the Valuation team, your typical week would include the following:

- Perform data validation and reconciliation checks to ensure completeness, accuracy and consistency of data used in reserving and financial reporting.
- Support monthly and quarterly actuarial reserving processes, including estimation of IBNR, IBNER, and other reserves in line with IRDAI guidelines.
- Assist in the development, implementation and maintenance of actuarial models for valuation of insurance liabilities under IND-AS 117, including segmentation of contracts, best estimate liabilities and risk adjustment calculations.
- Work closely with Finance teams to build and operationalize IFRS 17 reporting frameworks, including data flows, controls and governance processes
- Assist in preparation of IFRS 17 reporting outputs, management information and disclosures for internal and regulatory reporting.
- Participate in IFRS 17 model validation, testing and parallel runs, ensuring accuracy, robustness and audit readiness of results
- Analyze movements in IFRS results and provide variance analysis and insights to support business decision-making




- Analyze emerging claims experience and support variance analysis between expected and actual experience.
- Assist in preparing inputs and analysis for Risk Based Capital (RBC) and solvency monitoring under emerging regulatory frameworks
- Document methodologies, assumptions and processes in line with internal governance, audit and regulatory requirements.
- Support actuarial reporting, working papers and SOP documentation with high attention to accuracy and timelines.
- Work on enhancement and automation of actuarial models using tools such as Excel, VBA, R or Python.

You could be the right candidate if you

- Qualification: Bachelors degree in commerce, mathematics, statistics or equivalent from a recognized institute
- Good progress in actuarial examinations.
- Have 2–4 years of actuarial experience in general/health insurance
- Understand key IFRS 17 components such as BEL, Risk Adjustment, Contract Grouping and Reinsurance
- Have exposure to IFRS 17 concepts and implementation work (parallel runs, model support, reporting, etc.)
- Have basic understanding of RBC / solvency frameworks
- Have working knowledge of actuarial reserving techniques (deterministic and stochastic)
- Are not intimidated by the rapidly changing technology ecosystem and keep your current through self-learning and constantly playing around with latest technologies.
- Understand the concept, needs,



requirements and can conceptualize design and build solutions for stakeholders.
- Are adaptable and open to working in a fast-evolving regulatory and reporting environment

This could be the gig for you if you

- Are passionate about building actuarial capabilities from the ground up in a greenfield health insurance setup
- Enjoy working on IFRS 17 implementation and reserving rather than purely BAU maintenance
- Thrive in environments that require both technical depth and problem-solving with incomplete information
- Have a strong learning mindset and are keen to deepen your expertise in reserving, reporting and capital frameworks
- Like to work in a collaborative and cross-functional environment
- Are detail-oriented and take ownership of accuracy and quality in your work
- Take initiative and proactively identify opportunities for automation and improvement
- Are motivated by the opportunity to make a meaningful impact in improving healthcare access and affordability
- Take help from others when stuck and encourage others when there are setbacks

What can make you extra special

- Strong actuarial exam progress with CM1, CM2, CS1 and CS2 already cleared will be an added advantage
- Hands-on experience in IFRS 17 including model development
- Strong understanding of IFRS 17 building blocks, including BEL, Risk Adjustment, CSM basics and reinsurance treatment
- Experience in building or enhancing actuarial models
- Understanding of health insurance products and claims dynamics
- Ability to translate business problems into actuarial or analytical solutions
- A strong ownership mindset with demonstrated ability to deliver in high-accountability environments

📌 Actuarial Analyst- Reserving (Mumbai)
🏢 Prudential Technology And Services
📍 Mumbai