Vacancy Details
Job Title: Actuarial Pricing Specialist
Position Type: Permanent
Location: Centurion, Gauteng, South Africa (Hybrid/Remote option available)
Role Overview:
The Actuarial Pricing Specialist will play a critical role in pricing and managing risk for new and existing business within the Short-Term Insurance sector. This individual will be responsible for developing, implementing, and maintaining market-leading pricing models that ensure profitability and sustainability. The role requires expertise in actuarial pricing, advanced data analysis, and the ability to make data-driven decisions in a high-pressure, deadline-driven environment.
Key Responsibilities:
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Develop and Implement Pricing Models: Design, develop, and maintain pricing models for Short-Term Insurance products. Continuously improve these models to reflect market trends, risk factors, and business objectives.
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Enhance Data and Rating Strategies: Identify opportunities to enhance data collection methods, rating structures, and analytics processes to inform and optimize pricing decisions.
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Monitor Model Performance: Regularly review pricing models to track their performance against actual outcomes, identifying weaknesses and making necessary adjustments to improve model accuracy and effectiveness.
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Develop Pricing Strategies: Lead the development and implementation of pricing strategies for both new and existing products. Ensure these strategies support growth and profitability goals for the business.
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Support Product Development: Work closely with cross-functional teams to support the development of innovative products, providing actuarial insights that drive product success.
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Governance and Compliance: Ensure that all pricing models comply with internal governance and external regulatory standards. Implement proper procedures for pricing deployment and ongoing monitoring.
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Data Analytics and Reporting: Utilize advanced data analytics to support business decisions, and provide clear, actionable insights for senior leadership and other stakeholders.
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Collaboration: Collaborate with various business units, including underwriting, claims, and product development, to ensure pricing models align with overall business strategies and objectives.
Candidate Requirements
Qualifications and Experience:
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Education: Bachelor’s degree in Actuarial Sciences.
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Professional Qualification: Qualified actuary or nearly qualified actuary.
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Experience: A minimum of 5 years’ experience in actuarial modeling and pricing, particularly within the Short-Term Insurance industry. Preference will be given to candidates with advanced pricing and product development experience.
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Technical Skills:
- Proficiency in actuarial software and tools, including SQL, SAS, R, Python, and Earnix.
- Advanced proficiency in Microsoft Excel, particularly with functions like pivot tables, data analysis, and macros.
- Experience with large datasets and programming to extract commercial value from data.
1 person has applied for this job. 47 people have viewed this job.
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