AI/ML Consultant — Actuarial Modeling

About this AI Consultant role at LIC of India

LIC of India, a government-backed insurance and pension giant, is hiring senior AI/ML Consultants at its Data Analytics Centre in Mumbai to build actuarial and policy models that protect millions of Indian policyholders. This is a high-impact consulting role where your statistical modeling and machine learning expertise directly shapes how LIC prices products and manages risk—a direct application opportunity with no competitive exam required.

What you'll do

• Develop and optimize survival analysis models for policy lifetime prediction and risk assessment in insurance portfolios.
• Build Generalized Linear Models (GLMs) for premium pricing and claims forecasting across product lines.
• Implement modern gradient boosting and neural network models on tabular actuarial data to improve predictions over classical methods.
• Write production Python code to operationalize statistical models for LIC's actuarial teams and business units.
• Collaborate with actuaries and data teams to translate complex modeling requirements into machine learning solutions.

Who should apply

You'll need at least 5+ years of hands-on experience in actuarial modeling, insurance modeling, or a closely related quantitative domain. A Master's in Statistics or M.Tech is required by LIC. This is a senior AI Consultant role, not entry-level—bring your proven track record with real insurance or pension datasets and a portfolio of models you've shipped.

Salary & offer in context

LIC offers ₹1,50,000–₹2,20,000 per month on a 3-year contract basis, placing senior AI Consultant roles in India at the top tier of the insurance and actuarial tech sector. For context, AI engineer salaries in India for senior consultants typically range ₹1.2–2.5L/month in private tech, so LIC's government backing and stability make this competitive, especially with pension and benefits factored in.

Path to apply

This is a direct online portal application—no LIC AAO exam or bureaucratic screening process. Visit licindia.in/careers, search for AI/ML Consultant roles at the Data Analytics Centre, and submit your CV and cover letter directly. The application deadline is 5 June 2026, so apply soon if actuarial modeling and government-sector stability appeal to you.