Business Planning:
Business Plan - Performing yearly business plan activity involving projection of the Margins, EV, Stat Profit etc.
Tracking of the plan numbers against the actual and identify the reasons for the differences. Annual IRDAI submission on FCR, Annexure ST and Section 7 of AAAR/ARA.
Experience Analysis:
Assumptions setting – Actuarial assumptions are required for calculation of reserves, EV, NBM and pricing current products. The role would involve performing the assumption setting once a year for mortality and lapses to determine the assumptions to be used in pricing, EV and valuation.
Discontinuity/Mortality reporting – Executing DCS codes, updating excels and working out the discontinuity/mortality rates. Analyzing the trends, updating the quarterly report and communicating the results together with recommendations.
Allowable reporting – Measuring the allowable under the new business helps the business planning team to identify areas of control over payouts to the channels. The role would require monthly and quarterly allowable reporting to the financial planning team so that they can compare the actual expenses vs those loaded in premiums / planned expenses.