KPMG: Analyst – Non-Life Actuarial Services

Job Description

KPMG is hiring an Analyst – Non-Life Actuarial Services for its Actuarial Services team in Bangalore. This opportunity is designed for graduates or postgraduate candidates with a strong academic foundation in mathematics and statistics who want to build a career in actuarial consulting, insurance analytics, and financial risk management. The selected candidate will work as part of a team supporting KPMG member firms, primarily across the UK and US markets, and will gain exposure to a broad range of actuarial assignments. The role involves analyzing historical claims data, identifying trends, reviewing assumptions and methodologies, preparing actuarial reports, and supporting insurance clients with complex analytical requirements. It is particularly suitable for candidates interested in general insurance, actuarial science, data analysis, financial modeling, and risk assessment.

As a Non-Life Actuarial Analyst, you will contribute to projects involving claims reserving, actuarial audits, pricing models, regulatory reviews, and insurance reporting. A significant part of the role involves working with large datasets, developing Excel-based actuarial tools, applying triangulation techniques, validating results, and comparing current outcomes with previous-year and client results. You may also support work related to IFRS 17, Solvency II, Economic Balance Sheets, Statement of Actuarial Opinion (SAO), and economic capital requirements. The position provides exposure to modern actuarial practices where technology, analytics, visualization, and machine learning are increasingly being used to improve insurance decision-making. Candidates will also collaborate with experienced actuarial professionals and international stakeholders, making this an excellent opportunity to develop both technical expertise and professional consulting skills.

The role also places strong emphasis on communication, documentation, quality, and stakeholder management. Analysts are expected to explain findings clearly, prepare summaries and reports, participate in engagement meetings, and provide regular updates to senior team members and onshore stakeholders. Because KPMG's actuarial teams operate in a global delivery environment, the position offers opportunities to understand international insurance markets and contribute to assignments involving regulatory and business challenges. Candidates pursuing actuarial qualifications through IFoA, SOA/CAS, or IAI can particularly benefit from the practical exposure offered by this position. With the combination of actuarial examinations, insurance analytics, consulting exposure, and advanced data-driven techniques, the role can provide a strong foundation for a long-term career in actuarial consulting and non-life insurance analytics.

Roles & Responsibilities

1. Analyze historical insurance claims data to identify emerging trends, unusual patterns, inconsistencies, and potential data-quality concerns. Document analytical findings clearly and communicate important observations to senior actuarial professionals.
2. Develop and maintain Excel-based actuarial tools for insurance analysis, including calculations used in claims reserving and other non-life actuarial assignments. Apply appropriate formulas, assumptions, and analytical methodologies.
3. Apply triangulation techniques to estimate outstanding loss reserves for general insurance and reinsurance companies. Review development patterns and help assess whether calculated reserves are reasonable and adequately supported.
4. Support Statement of Actuarial Opinion and actuarial audit assignments by reviewing relevant information, performing analytical checks, documenting results, and assisting senior team members with client deliverables.
5. Review actuarial data, methodologies, assumptions, and results to identify inconsistencies and assess whether outputs are reasonable when compared with historical performance, client information, or relevant market benchmarks.
6. Perform year-on-year reconciliations by comparing previous-period actuarial results with current calculations and investigating material differences between internal analysis and client-provided results.
7. Assist with non-life pricing and bespoke actuarial modeling by preparing data, performing calculations, validating model outputs, and helping experienced team members develop solutions for specific client requirements.
8. Support regulatory actuarial assignments involving areas such as Solvency II technical provisions, Economic Balance Sheets, IFRS-related requirements, and other insurance regulations applicable to international clients.
9. Prepare professional commentary and summary reports explaining analytical results, significant movements, assumptions, and potential problem areas so that findings can be easily understood by clients and senior stakeholders.
10. Participate in client engagement activities including team meetings, status discussions, solution reviews, and regular communication with engagement managers, directors, partners, and onshore actuarial teams.
11. Support actuarial system transformation and technology initiatives by assisting with data processes, analytical tools, reporting activities, and technology-enabled improvements to traditional actuarial workflows.
12. Contribute to day-to-day engagement management and MI reporting while maintaining accurate documentation, meeting deadlines, following quality standards, and proactively communicating project progress or potential risks.

Requirements & Eligibility

1. Educational Qualification: Candidates should be graduates or postgraduates with a strong background in Mathematics, Statistics, Actuarial Science, Finance, Economics, or a closely related discipline. Strong quantitative fundamentals are important for performing actuarial calculations and interpreting insurance data.
2. Actuarial Examination Progress: Applicants should be members of IFoA UK, SOA/CAS in the US, and/or IAI India, with at least four actuarial examinations successfully completed from a recognized actuarial institute.
3. Experience Level: The position is primarily suitable for candidates with 0–1 year of experience in insurance, actuarial services, financial analysis, or a related area. Fresh graduates with relevant actuarial examination progress may also find the role suitable.
4. Mathematical & Statistical Skills: A strong understanding of probability, statistics, mathematical modeling, and quantitative analysis is essential for evaluating claims data, calculating reserves, interpreting trends, and supporting actuarial decisions.
5. Insurance Knowledge: Candidates should have an interest in or foundational understanding of general insurance, non-life insurance, claims, reserving, pricing, reinsurance, and insurance risk. Familiarity with regulatory concepts can provide an additional advantage.
6. Analytical & Problem-Solving Ability: The role requires the ability to investigate large datasets, identify anomalies, compare results, question assumptions, and develop logical explanations for unexpected movements or inconsistencies.
7. Excel & Data Analysis: Strong working knowledge of Microsoft Excel and spreadsheet-based analysis is valuable because the position involves creating actuarial tools, performing reconciliations, analyzing claims information, and preparing calculations for client assignments.
8. Regulatory Awareness: Candidates should be willing to learn and work with insurance regulations and frameworks such as IFRS 17, Solvency II, technical provisions, Economic Balance Sheets, and actuarial reporting requirements.
9. Communication & Documentation: Strong written and verbal communication skills are required to prepare clear reports, document findings, provide project updates, participate in meetings, and communicate effectively with international stakeholders.
10. Teamwork & Professionalism: Candidates should be comfortable working in collaborative, globally distributed teams and demonstrate ownership, attention to detail, willingness to learn, time management, and the ability to build professional relationships with colleagues and clients.

Expected Salary

For an entry-level Actuarial Analyst position in India, a realistic expected salary range is approximately ₹5 lakh–₹9 lakh per annum, depending on actuarial exam progress, relevant skills, location, and previous experience. Current Glassdoor salary data places the India-wide Actuarial Analyst base-pay range around ₹5 lakh–₹8/9 lakh annually, while KPMG-specific Actuarial Analyst data indicates a broader range of approximately ₹6 lakh–₹15 lakh per year, with individual salaries varying considerably by experience and location.

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