Pricing Analytics, B2 — ML depth + SQL + Python

Background

I have 3 years of experience at a product company. I applied for the Senior Machine Learning Analyst role (B2 level) at AXA XL in Gurugram.

How I Got the Interview

I cold-applied through AXA XL's career portal after seeing the job posting in the first week of November 2025 and heard back in about three weeks. Before the technical rounds began, HR reached out for an initial call to align on salary expectations and CTC.

Timeline

Rounds

Round 1 — Coding (SQL + Python)

Format: Video | Duration: ~1 hr

SQL

• — Differences between RANK, DENSE_RANK, and ROW_NUMBER
• — Joins
• — Window functions

Python

• — Dictionary comprehension case study: traverse a large dictionary and produce output from it
• — Total number of squares on a chessboard
• — Invert a dictionary: group keys by value

Input:

{1: 'a', 2: 'a', 3: 'b', 4: 'c', 5: 'b'}

Output:

{'a': [1, 2], 'b': [3, 5], 'c': [4]}

Verdict: Cleared

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Round 2 — Technical / Project Discussion

Format: Video | Duration: ~1 hr | Interviewer: Senior ML Engineer

Project deep-dive (credit risk / probability-of-default model)

• — Why I chose that particular model
• — Hypothesis and framing
• — VIF and correlation analysis — definitions and justifications

Statistics

Let X₁ ~ N(0,1) and X₂ ~ N(0,1) be independent. Find P(X₁ > X₂).

Hint: rewrite as P(X₁ − X₂ > 0); since (X₁ − X₂) / √2 is standard normal, the answer follows directly.

Other topics

• — Generalized Linear Models (GLM)
• — Basic hypothesis testing

Both topics felt role-specific to pricing analytics.

Verdict: Cleared

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Round 3 — Manager + Super-Manager Panel

Format: Video | Duration: ~1 hr | Panel: Manager (banking background) + Super-Manager

Project deep-dive (same project as Round 2, more detailed)

• — Walk through modelling steps and reasoning
• — Specific questions about the mechanics of the work

Other topics

• — P&C (property & casualty) insurance concepts
• — Why I wanted to move from banking to insurance

I spoke for ~30 minutes straight explaining the project before the panel started asking questions. Sustaining that narrative without prompting felt like the defining moment of this round.

Verdict: Cleared

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Round 4 — HR

Format: Video

• — Motivation for switching roles
• — Comfort with relocation to Gurugram
• — Hybrid setup (3 days/week in office)
• — Salary negotiation (finalized on this call)

Verdict: Cleared

Final Outcome

Offer received with a 30% salary hike plus relocation assistance. The total process took roughly 2.5 months, from my early November 2025 application through to the offer letter in January 2026. The longest wait was the ~1-month gap after the manager panel while they interviewed other candidates in parallel.

Tips for Future Candidates

1. Don't put anything on your resume you can't defend in depth — interviewers will dig into every project listed, especially in the technical and manager rounds. Have two projects you can talk through for 30 minutes without stopping.
2. Be solid on the core technical stack — Python, SQL, ML concepts, and basic statistics (probability, hypothesis testing, distributions). The coding round tests fundamentals, but later rounds expect you to apply them in context.
3. Expect P&C insurance and banking context questions — especially if you're coming from a banking background. Understand the domain (pricing, risk, claims) and be ready to explain your interest in moving into insurance. Fully defensible projects are non-negotiable at the manager level.