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Product Lead Surety Insurance

Go Digit General Insurance -
Pune, Maharashtra

Apply Now

Job details

Permanent

Qualifications

Power BI
Economics
Microsoft Excel
Statistics
Tableau
Finance
Master's degree
Bachelor's degree
VBA
Data visualization
MBA
Communication skills
Python
Analytics

Full job description

Job Description

Role Summary

The Product Lead – Surety Insurance is a specialist product and analytics role embedded within the Underwriting function.

The incumbent will own end-to-end product development, portfolio analytics, pricing model governance, and KPI management for the Surety line, working at the intersection of underwriting, technology, and business strategy.

Key Responsibilities

1. Product Development & Governance

Own the Surety product roadmap — define product constructs, bond types, coverage terms, sub-limits, and endorsements

Draft and maintain Product Notes, Product Filing documents, and internal Product Manuals

Lead BRD (Business Requirement Document) creation for pricing engines, underwriting platforms, and workflow automation

Translate regulatory changes (IRDAI circulars, NMCE guidelines) into product updates and operationalise them with tech and ops teams

Drive pilot launches for new bond categories or distribution channels; define acceptance criteria and evaluate outcomes

2. Data Analysis & Portfolio Intelligence

Build and maintain portfolio dashboards tracking premium, exposure, loss ratios, claim frequency, and segment-level profitability

Conduct deep-dive analyses on contractor segments, bond types, tenors, and geographic concentration

Identify loss drivers and emerging risk concentrations; translate findings into actionable product or underwriting changes

Own the data layer for the Surety line — define data capture requirements, ensure data quality, and partner with tech on instrumentation

Perform ad hoc portfolio interrogations to support pricing reviews, reinsurance negotiations, and regulatory submissions

3. Risk Modelling & Pricing Engine Ownership

Own the risk and rule-based pricing framework for Surety bonds — including BG rate derivation, financial factor (FF1/FF2/FF3) computation, ME%, CD2%, and collateral discount logic

Maintain and version-control the pricing engine (Python / Excel); coordinate model updates with the tech team using structured BRDs with cell-level traceability

Develop and calibrate credit scoring models for contractor financial assessment — integrating Probe scores, JAVIN table parameters, auditor flags, and legal signals

Monitor model performance post-deployment; identify drift, recalibrate parameters, and document rationale for all changes

Support reinsurance treaty structuring by providing exposure summaries, modelled loss scenarios, and pricing adequacy assessments

4. KPI Management & Business Reporting

Define, own, and report the KPI framework for the Surety line: GWP, active policies, quote-to-bind ratio, average premium size, NTU rate, claim incidence, and net loss ratio

Prepare monthly and quarterly business reviews with structured variance analysis against plan

Maintain STP / NSTP / Declined rate tracking and root-cause analysis for referral volumes

Partner with the Power BI / MIS team to build automated dashboards; define data definitions and sign off on reporting logic

Track leading indicators (onboarding pipeline, quote volumes, pending underwriting decisions) and flag deviations proactively

5. Underwriting Support & Decision Framework

Design underwriting guidelines, referral matrices, and rule engines governing STP, NSTP, and Decline decisions

Develop and maintain the Underwriter Reference Framework (RRF) — the insight register that benchmarks financial health, exposure limits, and contractor risk profiles

Define per bond limits, NFB (Non-Fund Based) aggregate limits, and collateral discount schedules based on portfolio performance data

Support complex or large-ticket underwriting cases with financial analysis and model outputs; act as the technical backstop for underwriters

Maintain underwriting authority matrices and ensure all limit changes are documented, versioned, and system-updated before release to sales

6. Cross-functional Coordination & Stakeholder Management

Act as the primary interface between Underwriting, Technology, Operations, Actuarial, Finance, and Reinsurance for all Surety product matters

Work closely with the tech team to define system requirements for the underwriting platform (Digit Care / Digit Plus portals), review UAT outputs, and sign off on go-live readiness

Coordinate with brokers, partners, and IMDs on product understanding, documentation requirements, and workflow queries — at a product and process level, not a sales level

Represent the Surety product in internal committees, product governance forums, and regulator interactions as required

Skills & Competencies

Functional / Technical

Quantitative risk modelling — financial ratio analysis, credit scoring, loss modelling

Pricing engine design and maintenance (Python / Excel / VBA)

Portfolio analytics and data visualisation (Power BI / Python / Tableau)

BRD writing and product documentation with developer-level precision

Working knowledge of surety / guarantee / financial lines insurance constructs

Familiarity with contractor financial assessment frameworks (balance sheet analysis, DSCR, leverage ratios, probe scores)

Advanced MS Excel — financial modelling, pivot analysis, solver-based optimisation

Behavioural

Structured, outcome-driven problem-solving with high attention to detail

Ability to synthesise quantitative outputs into clear business narratives

Comfort operating in an evolving, fast-moving product environment with incomplete information

Strong written communication — able to produce precise, traceable documentation

High ownership; proactive identification of issues before they surface in operations

Education & Experience

Qualification

CA, CFA, Cost Accountant

Graduate / Postgraduate in: Engineering, Mathematics / Statistics, Finance, Economics, or MBA (Finance / Risk)

Experience - 4+ Years

Product, underwriting analytics, or risk modelling roles in Surety / Credit / Financial Lines / Engineering Insurance (preferred)

Pricing engine development or actuarial support in a General Insurance context

Portfolio analytics, loss triangulation, or underwriting performance management

Candidates from BFSI analytics, credit risk modelling, or structured finance backgrounds with a demonstrable transition into insurance product roles will also be considered

Preferred Exposure

Surety and Financial Lines with Insurers or Banks

Financial Modelling and Risk analysis frameworks

Job Snapshot

Updated Date

27-05-2026

Job ID

Job2134

Sub Department

Non-Motor Tech & Analysis

Location

Pune, Pune, Maharashtra, India

Employee Type

Permanent

Apply Now

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