Actuary

1 month ago

Sandton, South Africa Discovery Ltd. Full time

**Business Unit**:Discovery Health**Function**:Actuarial Sciences**Date**:24 Jan 2024**Discovery Health**

**Health New Markets Actuary**

**About Discovery**
- 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.**About Health New Markets**
- Discovery Health has defined as one of its key objectives - to diversify the business and its earnings by growing non-medical scheme business with a newly established Health New Markets business unit.- This objective necessitates leveraging Discovery’s unique IP and shared value model to develop and grow innovative new health products that add value to employers, employees, and individual members beyond Discovery Health’s traditional customer segments.
Discovery Health’s new market products, include:
- Flexicare: Primary care health insurance
- Prepaid: Pay as you go health care vouchers
- Trauma: Accident cover
- Gap Cover: Extending medical aid benefits
- Healthcare fund
- And any other solutions that may be developed in future to add value to employers, their employees,
and individual members.**Key Purpose**
- The Health New Markets team is looking to recruit an exceptional individual who will be responsible for assessing, advising and optimising the distribution of our products using knowledge of actuarial, commercial, market and economic principles.- We are looking for a smart, self-driven person who is a natural problem solver and who delights in being challenged and innovative. This is a rare opportunity for someone who is commercially minded, thinks broadly and wants to venture into a stimulating and exciting career.- Understand, analyse and optimize sales and distribution strategies across using industry knowledge, analytical expertise and strategic insights.Develop new business data and analytics capability; and insights thereof that feed into the ongoing distribution strategy,
- Storyboard and communicate complex information in a coherent, succinct manner; and
- Transform unstructured data into strategic insights to inform key business decisions.

**Areas of responsibility may include but not limited to**
- The successful applicant will be responsible for but not limited to the following job functions:
**Sales and distribution leadership**:

- Responsible for strategic insights, ideas, and solutions to address sales and distribution priorities within Health New Markets
- A deep understanding of the customer, competitor space and market dynamics.
- Clearly identifying key issues and able to propose a series of analyses and well-reasoned recommendations
- Present recommendations in a coherent and compelling way to a range of external and internal stakeholders
- Responsible for the data and analytics informing and driving the ongoing CVM
- Co-ordinate and manage interactions with teams outside of the Health New Markets team
- Build strong relationships with other actuarial and analytical functions working on Health New Markets
- Liaise with data science experts and other actuarial teams to ensure the level of analytics and reporting on Health New Markets is on par with the group
- **Broker Leadership**:

- Engage with distribution channels and brokers as a key decision maker to complex problems
- Position newly launched and existing products via nationwide webinars and roadshows to brokers

**Market expertise**:

- Detailed analysis, technical modelling and desktop research covering performance, product utilisation, sales trends and competitor landscape to guide the business on future growth opportunities.

**Competencies**
- Self-starter with a strong drive for excellence
- Management and leadership skills
- Strategic thinker
- Exceptional analytical skills
- An ability to deal with complexity, ambiguity and constant change
- A keen interest in business dynamics and strategic challenges
- Strong communication skills, with competencies of storyboarding, presentation preparation and data visualisation

**Education and Experience**
- Qualified actuary, with a minimum of three years’ work experience.
- Management consulting experience is advantageous.
- EMPLOYMENT EQUITY
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

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