Thursday, 13 October 2011

Executive - Actuaries Max New York Life Insurance Co. Ltd.


0 - 2 Years
UG - Any Graduate - Any SpecializationPG - Any PG Course - Any Specialization
Industry Type:
Actuary Mgr
Functional Area:
Banking, Insurance

Job Description
Benefit Illustrations
1. To prepare the excel benefit illustration models of new Unit Linked and Non Linked Plans ensuring that the models replicate the product features correctly by applying various checks

2. Correction of the defects in the models of existing plans

3. Provide the illustration models to IFTIS (MNYL’s Benefit Illustration System) team and help them in understanding the working

4. Exhaustive testing of the IFTIS set up post development

5. Providing sign off to IFTIS team to release the set up
Policy Administration System
1. Providing the Policy Administration team the product specifications of the new products

2. Help them in understanding the product features

3. Review of the Functional Specification Document prepared by IT team

4. Testing of the product set up in Policy Administration System

5. Testing of the System Integrated Check (SIC) reports and providing feed back to IT team
Product Pricing 

1. Pricing of new plans in excel

2. Profit Testing and Sensitivity Analysis

3. Preparation of File & Use document

1. Exposure to modeling in Prophet – Actuarial Pricing software

2. Cash flow reconciliation with excel model

3. Documentation of the modeling in Prophet

Desired Candidate Profile
Must have cleared atleast 3 papers
Company Profile
Max New York Life is a dynamic partnership between New York Life, a globally respected insurance major and Max India, a business conglomerate driven by the spirit of enterprise. Max New York Life Insurance Company is one of the joint venture companies which has got in-principle approval from IRDA to sell Life Insurance products in India. 

Max India Limited

Max India Limited is a multi-business corporate, driven by the spirit of Enterprise, focused on the Knowledge, people and Service oriented businesses of Healthcare, Life Insurance and Information Technology. Max India also maintains business interests in Telecom Services, electronic components, Bulk Pharmaceuticals and Specialty Products businesses.

New York Life

NYL is a fortune 100 company with over US $ 131 billion in assets under management and over US $ 10 billion in annual revenues. NYL is ranked #3 in the Fortune global list of the most admired life and health insurance companies. NYL is the leading provider of new life insurance in the US and is also a leader in insurance sales to the growing Indian community in the US.
Contact Details
Company Name:
Max New York Life Insurance Co. Ltd.
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