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:

• 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.

• Enhance Data and Rating Strategies: Identify opportunities to enhance data collection methods, rating structures, and analytics processes to inform and optimize pricing decisions.

• 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.

• 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.

• Support Product Development: Work closely with cross-functional teams to support the development of innovative products, providing actuarial insights that drive product success.

• 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.

• Data Analytics and Reporting: Utilize advanced data analytics to support business decisions, and provide clear, actionable insights for senior leadership and other stakeholders.

• Collaboration: Collaborate with various business units, including underwriting, claims, and product development, to ensure pricing models align with overall business strategies and objectives.