Medical Actuary - Health Insurance*

1. Risk Assessment:

• Analyze statistical data to estimate the probability and financial impact of future healthcare events.
• Evaluate the financial risks associated with health insurance policies and medical treatments.

• Price health insurance products, ensuring they are competitive and financially viable.

• Create and maintain actuarial models to predict healthcare costs and trends.
• Analyze claims data to identify patterns and inform pricing strategies.

• Prepare detailed reports on financial performance, including loss ratios, reserves, and profitability.
• Collaborate with finance and accounting teams to ensure accurate financial reporting.
• Carry out audits as and when required

• Stay updated on changes in healthcare regulations and ensure compliance with all applicable laws.

1. Collaboration and Consultation:

• Work closely with underwriters, claims managers, and other stakeholders to develop and refine insurance products.
• Provide expert advice on actuarial matters to senior management and other departments.

• Conduct research on medical advancements, healthcare trends, and demographic changes.
• Develop new methodologies for evaluating healthcare risks and costs.

Qualifications

• Bachelor or Master degree in Actuarial Science, Mathematics, Statistics, Economics or Finance
• Professional actuarial certification (e.g., FSA, ASA) or progress towards certification.
• Prior experience in data analytical/pricing role in an insurance/reinsurance setup

• Strong analytical and problem-solving skills.
• Proficiency in statistical analysis software and actuarial modeling tools.
• Excellent communication and interpersonal skills.
• Knowledge of healthcare industry regulations and standards.