Actuarial Pricing Specialist
2 months ago
We are seeking a highly skilled Actuarial Pricing Specialist to join our team at Innovation Group. As an Actuarial Pricing Specialist, you will play a critical role in developing and maintaining pricing models, analyzing product pricing and profitability, and providing strategic recommendations to drive business growth.
Key Responsibilities- Determine accurate, competitive, and profitable pricing for regulated and non-regulated products.
- Develop, maintain, and update pricing methodologies and models for different channels, clients, and products.
- Analyze loss ratios and other factors to provide recommendations and assumptions for pricing models.
- Track product and client profitability, revenue, and costs to execute levers of profitability.
- Formulate and execute pricing strategies, including implementing new pricing methodologies and concepts in response to market changes.
- Understand the overall business and drive customer service culture within the organization.
- Meet deliverables agreed in SLA or personal measurements.
- Adhere to Customer Experience (Internal and External) standards.
- Provide insights on sales, retentions, and strategies to improve customer products.
- Develop actionable plans to drive up National Insurance Repository (NIR) and reduce direct and transfer pricing expenses.
- Ensure continuous analysis and understanding of Innovation Group's value proposition relative to the competition.
- BSc (Actuarial Mathematics) / BSc (Actuarial Science) or similar degree and registered with a recognized actuarial institute.
- Completed at least two Core Practice Modules CA1/(A301), and/or one Specialist Principles examination preferable F103/ST3 General Insurance or ST8/SP8 General Insurance Pricing.
- A minimum of 3 years pricing experience.
- Pricing experience in the short-term Insurance Industry or automotive value add products will be an advantage.
- Permanent contract.
- A competitive salary.
- Access to medical aid and provident fund.
- Continuous learning and training.
- Hybrid Working Opportunities.
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