Actuarial Analyst (Insurance Pricing)

Placements24; Polokwane; Hybrid; ZAR 800,000 - 1,100,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

Retirement fund

Study support for actuarial exams

Hybrid work

Job summary

Placements24 is recruiting an Actuarial Analyst specializing in insurance pricing in Polokwane, Limpopo. The role focuses on developing and refining pricing models for a range of products to secure competitiveness and profitability within a dynamic insurer team.

The ideal candidate will have solid quantitative skills, progress toward actuarial exams, and experience with R, Python or SAS. You will collaborate with underwriting and product teams, prepare management reports, and mentor junior staff

Qualifications

• Bachelor's degree in Actuarial Science or related quantitative field.
• Progress towards or completion of actuarial examinations (e.g., ASISA).
• Strong analytical, problem-solving and modeling skills.

Responsibilities

• Develop and maintain pricing models for insurance products.
• Analyze historical data to inform pricing strategies.
• Collaborate with underwriting and product teams to set profitable premiums.
• Perform sensitivity analyses and scenario testing on pricing models.
• Ensure pricing models comply with regulatory requirements and internal guidelines.
• Prepare actuarial reports and presentations for management.

Skills

Pricing analytics

Analytical thinking

Communication skills

Independent & collaborative

Education

Bachelor's degree in Actuarial Science/Math/Stats

Actuarial examinations progress (ASISA)

Tools

R

Python

SAS

Excel

Job description

About the Role

Our client, a leading insurer, is seeking a highly skilled and motivated Actuarial Analyst to specialize in Insurance Pricing within their dynamic team based in Polokwane, Limpopo . This crucial role involves developing and refining pricing models for various insurance products, ensuring competitive positioning and profitability. The ideal candidate will possess strong quantitative abilities, a thorough understanding of actuarial principles, and excellent analytical skills. This is a fantastic opportunity for an actuarial professional to contribute significantly to business strategy and growth in the Limpopo province.

Key Responsibilities

• Develop, implement, and maintain pricing models for new and existing insurance products.
• Analyze historical data to identify trends and inform pricing strategies.
• Collaborate with underwriting and product development teams to set competitive and profitable premiums.
• Perform sensitivity analysis and scenario testing on pricing models.
• Ensure pricing models comply with regulatory requirements and internal guidelines.
• Prepare actuarial reports and presentations for management review.
• Assist in the development of business cases for new product initiatives.
• Stay updated on industry trends and actuarial best practices in pricing.
• Mentor junior actuarial staff and contribute to team knowledge sharing.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards, or completion of, actuarial examinations (e.g., Actuarial Society of South Africa).
• A minimum of 4 years of relevant actuarial experience, with a focus on insurance pricing.
• Strong analytical, problem-solving, and quantitative modeling skills.
• Proficiency in statistical software packages (e.g., R, Python, SAS) and Excel.
• Knowledge of insurance products and the South African market, particularly within Limpopo .
• Excellent communication and interpersonal skills, with the ability to explain complex concepts clearly.
• Ability to work independently and collaboratively in a hybrid work environment.
• Familiarity with regulatory requirements impacting insurance pricing in Polokwane and surrounding regions.

Benefits

• Our client offers a competitive salary package commensurate with qualifications and experience, along with performance-related bonuses.
• comprehensive medical aid, a strong retirement fund, and study support for actuarial exams.
• This hybrid role provides flexibility for professionals in Polokwane , balancing office-based teamwork with remote work efficiency.
• Excellent career progression opportunities are available within a supportive and innovative environment.