Actuary

3 weeks ago


Sandton, South Africa Discovery Ltd. Full time

**Business Unit**:Discovery Health**Function**:Actuarial Sciences**Date**:23 Jun 2023- Product Development and Technical Marketing: Vitality Health International (Africa)**ABOUT dISCOVERY AND VITALITY HEALTH INTERNATIONAL AFRICA**
- Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.- Vitality Health International Africa is a subsidiary of Discovery taking the shared-value model to Africa (excluding South Africa due to the presence of Discovery Health Medical Scheme within South Africa), enabling comprehensive cover for healthcare for their employees, underpinned by incentives and tools to live healthier. Vitality Health International Africa is present in five countries: Democratic Republic of Congo, Kenya, Mozambique, Nigeria, Zambia and expanding to more countries.**Key Purpose**
- The role involves creating and managing health insurance products, as well as analyzing and optimizing sales and distribution strategies for Vitality Health International Africa. This requires utilizing industry knowledge, analytical expertise, and strategic insights to perform the following tasks:
- Developing, maintaining, and pricing health insurance products and enhancements.
- Conducting analysis to inform distribution and new business strategies.
- Converting unstructured data into strategic insights to guide important business decisions.
- Creating a clear and concise narrative to effectively communicate complex information.

**AreAS OF RESPONSIBILITY**:

- Product Development:
- Develop and price new health insurance products, considering market trends, competitive landscape, and regulatory requirements.
- Analyze data on existing products to evaluate performance and identify opportunities for improvement.
- Work closely with the marketing team to develop effective marketing strategies and materials that communicate product benefits to customers.
- Provide technical support to other departments, such as underwriting and claims, on product-related matters.
- Monitor industry developments and regulatory changes to ensure compliance and identify potential impacts on our products.
- Collaborate with cross-functional teams to identify and prioritize product development initiatives.
- Communicate technical concepts to non-technical stakeholders in a clear and concise manner.
- Technical Marketing:
- Conducting analyses which supports strategic insights, ideas, tailored business proposals and assists in finding solutions to address sales and distribution priorities within Vitality Health International.
- Oversee standard new business quoting.
- Managing the renewal process, conducting analytics to inform proposed renewal terms, and engaging with brokers and clients to discuss and negotiate the renewal terms.
- Generating client reports for important and/or strategic clients.
- Contributing to research and development through a deep understanding of the competitor space and market dynamics.
- Responsible for the successful product positioning and the associated analytic support of Vitality Health International’s annual enhancements and product launches.
- Position newly launched Vitality Health International products via webinars and roadshows to brokers.
- Engage with distribution channels and brokers as a key decision maker to complex problems faced by Vitality Health International.
- Support the Sales and Distribution department with client and broker engagements.
- Detailed analysis, technical modelling and desktop research covering company performance, product utilisation, sales trends and competitor landscape to guide the business on future growth opportunities.
- Produce white papers and thought leadership (through analysis of both internal and external data along with desktop research) to elevate the Vitality Health International Africa brand and to support product positioning for the annual enhancements and product launches.

**COMPETENCIES**
- Self-starter with a strong drive for excellence
- Strategic thinker
- Exceptional analytical skills
- Strong communication skills
- Management and leadership skills
- Competencies of storyboarding, presentation preparation and data visualisation is advantageous

**qUALIFICATIONS AND eXPERIENCE**
- Qualified Actuary/ Actuarial analyst, with a minimum of three years’ work experience.
- Broader Africa experience is advantageous.
- Healthcare experience is advantageous.
- Management consulting experience is advantageous
- EMPLOYMENT EQUITY
The Company’s approved Employment Equity Plan and Targets will be considered as part


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