Actuarial Pricing Analyst

2 weeks ago


Centurion, Gauteng, South Africa The Recruitment Council Full time

Role Purpose

The Actuarial Pricing Specialist is responsible for pricing and managing risk for both new and existing business, ensuring profitability and sustainability in the insurance industry.

Key Responsibilities:

  • Maintain, develop, and implement market-leading pricing models for Short-Term Insurance.
  • Explore and identify data and rating enhancements to inform pricing strategies, driving business growth and profit objectives.
  • Take ownership of model performance against actual experience and address any weaknesses, ensuring data-driven insights inform business decisions.
  • Develop and implement pricing strategies for new and existing business to achieve growth and profit objectives, aligning with company goals.
  • Support the development of innovative products that meet market needs, leveraging actuarial expertise to drive business success.
  • Drive proper governance on developed and deployed pricing models, ensuring compliance and regulatory adherence.
  • Provide data-driven insights and analytics support to inform business decisions, enabling data-informed decision making.

Experience and Qualifications:

  • Bachelor's degree in Actuarial Sciences or a related field.
  • Qualified actuary or nearing qualification, with a strong understanding of insurance industry regulations and best practices.
  • A minimum of 5 years of actuarial modeling and pricing experience within the Short-Term Insurance industry, with a preference for candidates demonstrating advanced pricing and product development experience.
  • Proficiency in software packages such as SQL, SAS, R, Python, and tools like Willis Towers Watson, Earnix, and AKUR8.
  • Advanced user of Microsoft Office, particularly Excel, with experience in programming and mining large datasets for commercial value.

Competencies:

  • Strong passion for Short-Term Insurance and pricing products, with a drive to stay up-to-date on industry trends and developments.
  • Proactive in identifying areas for improvement and implementing solutions, with a focus on continuous learning and professional growth.
  • Creative thinker who finds innovative solutions to complex problems, with a ability to make practical and financially sound decisions.
  • Self-driven with the ability to take ownership of deliverables and see them through to completion with minimal supervision, while maintaining excellent time management skills.
  • Exceptional written and verbal communication skills, with a detail-oriented approach to accuracy and a strong sense of governance and compliance.


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