Head of Pricing
2 months ago
Key Tasks and Accountabilities:
• Pricing: Evaluate existing and potential new lines of business across various short-term insurance offerings.
• Team Management: Lead a team of approximately 10 individuals.
• Stakeholder Management: Collaborate with internal stakeholders to ensure alignment with financial targets.
• Portfolio Analysis: Continuously analyze portfolio results to guide pricing decisions.
• Pricing Best Practices: Develop and implement pricing best practices, including system design.
• Pricing Tools Oversight: Oversee the contracting, budgeting, and implementation of pricing tools.
• Strategic Translation: Translate organizational plans into actionable pricing strategies.
• Predictive Analysis: Use statistical techniques for predictive analysis and strategic decision-making.
• Project Leadership: Lead complex pricing assignments and projects.
• Actuarial Support: Provide actuarial support and insights on performance and profitability.
• Reporting: Create and maintain business reports to monitor profitability and identify market opportunities.
• Business Support: Translate income statement deviations into underwriting and pricing actions.
• Relationships:
o Internal: Collaborate with IT, Underwriting, Claims, Finance, Risk Management, and Sales and Distribution.
o External: Engage with consultants, software providers, Insurance Partners, and industry groups.
Qualifications & Experience:
• Minimum NQF Level 7 (University degree) in Actuarial Science or related field.
• Qualified FASSA designation of the Actuarial Society of South Africa or equivalent.
• Minimum five years' experience in short-term insurance pricing.
• Experience providing actuarial advice to senior management.
• Strong background in underwriting, portfolio management, and general management.
• Experience in project management and large-scale IT development projects.
Behaviours:
• Collaborative mindset with the ability to influence across functions.
• Self-motivated and proactive.
• Professional, enthusiastic, and positive attitude.
• Deadline-oriented and able to work under pressure.
• Strong leadership skills.
Knowledge:
• Intermediate to advanced knowledge of actuarial principles, legislation, and pricing best practices.
• Proficiency in finance, accounting, and economic trends impacting underwriting and pricing.
• Proficient product knowledge with an understanding of policy wordings.
• In-depth understanding of the insurance industry trends, regulations, and market dynamics.
• Knowledge of IT governance and software development lifecycle.
• Familiarity with enterprise underwriting strategy development and implementation.
Technical Skills:
• Proficiency in English; additional languages preferred.
• Strong communication and presentation skills.
• Advanced computer literacy, including SAS, VBA, and pricing software.
• Expertise in statistical and actuarial pricing tools and methods.
• Knowledge of IT architecture and fault diagnosis.
• Advanced understanding of portfolio management and optimization methods.
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