Actuarial Analyst - Product Development & Pricing

Placements24; Bellville; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Competitive salary

Bonuses based on performance

Study leave for actuarial exams

Health and wellness benefits

Pension and retirement plans

Career advancement opportunities

International exposure

Job summary

Placements24 is seeking an Actuarial Analyst for a forward-thinking insurance provider in Centurion, Gauteng. You will design, price, and analyze products to ensure profitability and competitiveness across lines of business.

The role requires strong actuarial skills, ongoing ASISA exams progression, and experience with Prophet, R, Python, and Excel. You will collaborate across underwriting, marketing, and IT to implement robust pricing and forecasting models.

Qualifications

• Bachelor's degree in Actuarial Science or related quantitative field.
• Progress towards actuarial qualification (ASISA exams) is essential.
• Minimum 3 years of actuarial experience in the insurance industry.
• Strong knowledge of pricing methodologies, reserving techniques, and actuarial principles.

Responsibilities

• Develop, price, and analyze new insurance products with a focus on market competitiveness.
• Review existing product portfolios and adjust pricing, reserving, or features as needed.
• Build and maintain actuarial models for pricing, reserving, and forecasting.
• Conduct profitability analysis and scenario testing for product strategies.

Skills

Actuarial modeling

Quantitative analysis

Problem solving

Education

Bachelor's degree in Actuarial Science

Progress towards actuarial qualification (ASISA exams)

Tools

Prophet

R

Python

Excel

Job description

About the Role

Our client, a forward-thinking insurance provider, is looking for a talented and motivated Actuarial Analyst to join their dedicated Product Development & Pricing team in Centurion, Gauteng. This role is central to the design, pricing, and profitability analysis of new and existing insurance products across various lines of business. The successful candidate will leverage advanced analytical techniques, statistical modeling, and data analysis to support strategic decision-making and ensure competitive and profitable product offerings. This is an excellent opportunity for an individual with a strong actuarial foundation and a passion for innovation in the insurance industry. Working within a collaborative environment, you will contribute directly to the company's growth and success in the competitive South African market, based in the vibrant hub of Centurion, Gauteng.

Key Responsibilities

• Develop, price, and analyze new insurance products, ensuring technical soundness and market competitiveness.
• Perform regular reviews of existing product portfolios, identifying trends and recommending adjustments to pricing, reserving, or features.
• Build and maintain sophisticated actuarial models for pricing, reserving, and forecasting purposes.
• Conduct profitability analysis and scenario testing to assess the financial impact of product strategies and market changes.
• Collaborate with underwriting, marketing, sales, and IT teams to ensure seamless product development and implementation.
• Prepare clear and concise reports and presentations for senior management, outlining key findings and recommendations.
• Ensure compliance with regulatory requirements and industry best practices in all actuarial work.
• Contribute to the development and enhancement of actuarial systems and tools.
• Stay abreast of industry developments, new technologies, and emerging risks relevant to actuarial science and insurance.
• Assist in the preparation of statutory and regulatory actuarial returns.

Requirements

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial qualification (e.g., Actuarial Society of South Africa exams) is essential.
• Minimum of 3 years of relevant actuarial experience in the insurance industry.
• Strong knowledge of actuarial principles, pricing methodologies, and reserving techniques.
• Proficiency in actuarial software (e.g., Prophet, R, Python) and advanced Excel skills.
• Excellent analytical, problem-solving, and quantitative modeling capabilities.
• Strong written and verbal communication skills, with the ability to explain complex concepts to non-technical audiences.
• Detail-oriented with a high degree of accuracy and diligence.
• Ability to manage multiple projects and meet deadlines in a dynamic environment.

Benefits

• Competitive salary and performance-related bonuses.
• Financial support and study leave for actuarial examinations.
• Comprehensive health and wellness benefits package.
• Pension fund and other retirement savings options.
• Opportunities for career advancement and international exposure.
• Dynamic and intellectually stimulating work environment in Centurion, Gauteng.