Actuarial Analyst

Discovery Limited; Sandton; On-site; ZAR 500 000 - 700 000; Full time

Job summary

A leading insurance firm in Sandton is seeking an Actuarial Analyst to shape the Vitality Drive International product offering. This role involves product development and analyses based on data-driven insights. The successful candidate will work with various stakeholders to deliver innovative solutions and ensure seamless project execution. Essential qualifications include an Honours degree in Actuarial Science and experience in the insurance sector.

Qualifications

• Essential educational qualifications include a Matric and an Honours degree in Actuarial Science.
• Experience in the insurance industry and research and development is advantageous.

Responsibilities

• Shape the Vitality Drive International product offerings focusing on innovation and analysis.
• Execute the international carrier strategy with innovative product features.
• Collaborate with internal and external stakeholders for project development.

Skills

Modelling skills

Statistical and analytical skills

Programming Skills: SQL, Python, Radar

Microsoft Office

Google Analytics

Experience using Generative AI

Analytics

Statistics

Regulatory Frameworks

Short Term Industry

Education

Matric

Honours degree in Actuarial Science and/or Mathematical Statistics

CT (A1 & A2) subjects completed

TASSA qualification

Nearly/newly qualified Actuary

Job description

Discovery – Insure

Actuarial Analyst – Vitality Drive International

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 Discovery Insure

Discovery Insure is committed to creating a nation of great drivers through our innovative Shared‑value Insurance model. Discovery Insure is South Africa’s fastest growing short‑term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home insurance sectors. Vitality Drive, an internationally-recognised and award‑winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.

Key Purpose

The candidate will play a pivotal role in shaping the Vitality Drive International product offering, with a focus on product development, innovation and detailed analysis. This includes designing tailored solutions for global insurers across diverse markets and regulatory landscapes based on data-driven insights. The role offers exposure to international business environments and encourages creative, out-of-the-box thinking to drive product value and differentiation. Key responsibilities span experience reviews, reporting, AI integration and collaboration across business development, legal, marketing and systems to ensure seamless delivery and ongoing optimisation.

Areas of responsibility may include but are not limited to

• Demonstrate value to Insurers with reference and in support of the Shared Value Insurance framework.
• Contribute to formal and informal research to aid in the design and improvement of products and features.
• Build business case models to validate Shared Value Insurance and actuarial surplus unlocked through the Vitality Drive Program.
• Work closely with industry leads in delivering AI backed solutions to our tenants.
• Create presentation decks and specification documents for programs during the conceptualisation phase. Develop unique data and program insights as input into experience review presentations presented to carriers periodically.
• Execute international carrier strategy by innovating and delivering benefits and features that meet the partner Insurer’s business objectives.
• Perform longitudinal, cross-sectional and segmentation analysis to support international partners in their strategies for campaigns, logistics, and performance review.
• Develop actuarial/statistical models and detailed business cases to aid in decision-making.
• Lead multiple concurrent large‑size projects from the phase of conceptualisation through implementation, operationalisation, and post‑implementation management.
• Act as a consultant in guiding and improving a partner Insurer’s new and existing product suite, features, growth, and engagement strategies.
• Collaborate with numerous stakeholders both internal (e.g. marketing, systems, graphics, data analysts, compliance, legal and usability specialists) and external to develop projects that are engaging and provide a memorable customer experience.
• Develop standardised reporting to track key metrics on large‑scale initiatives for new and existing carriers.
• Present to various internal and external stakeholders to get buy‑in and approval.
• Participate in feasibility, solutioning, and relevant forums to co‑create project solutions.
• Provide analytical perspective on program performance (in respect of benefit utilisation, driver score experience, behavioural outcomes, digital engagement) relative to market‑related assumptions to inform adequacy of product design and recommendations for review.
• Exercise financial prudence and keen business acumen in the pricing and review of products to ensure long‑term sustainability of commercial arrangements and partner economics.

Knowledge and Skills

• Modelling skills preferred (Intermediate)
• Statistical and analytical skills (Intermediate)
• Programming Skills: SQL, Python, Radar (Intermediate)
• Microsoft Office (Excel, PowerPoint and Word) (Advanced)
• Google Analytics (advantageous)
• Experience using Generative AI (advantageous)
• Analytics
• Statistics
• Regulatory Frameworks
• Short Term Industry

Education and Experience

Education:

• Matric (Essential)
• Honours degree in Actuarial Science and/or Mathematical Statistics (Essential)
• CT (A1 & A2) subjects completed (Essential)
• TASSA qualification (Advantageous)
• Nearly/newly qualified Actuary (Advantageous)

Minimum Experience:

• At least 1‑3 years Research and Development experience within Insurance industry (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.