Actuary - Market Analytics and R&D

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

Job summary

A leading insurance company in Johannesburg seeks an experienced Actuary for Market Analytics and R&D. The role involves product development, data analytics, and strategic insights to enhance business. Essential qualifications include a Bachelor's degree in Actuarial Science and 2 years of experience in the insurance industry. This position offers opportunities to lead innovative projects and collaborate across teams, fostering a dynamic work environment.

Qualifications

• Matric with Mathematics.
• At least 2 years working experience as an Actuarial Analyst within the Insurance Industry.
• Working experience as an Actuary in the Life Insurance industry is advantageous.

Responsibilities

• Utilizing market insight to launch innovative new products and services.
• Developing automated tools and dashboards for real-time insights.
• Providing technical product support to ensure successful execution.

Skills

Effective communications skills

Advanced Analytical and Technical skills

Problem Solving skills

Knowledge on Actuarial Modelling

Knowledge on Data Analysis

Proficiency in MS Word

Proficiency in MS Excel

Proficiency in MS Outlook

Education

Bachelor of Science (BSc)

Bachelor of Business Science (BBusSc)

Fellow of Actuarial Society of South Africa

Job description

Overview

Discovery Life is an ever growing fast-paced and dynamic environment that provides innovative risk assurance to individual clients. This environment thrives on customer engagement and customer experience as well as mutually beneficial relationships with our brokers and other stakeholders. It is important for our employees to provide a world class service to our internal and external clients, thereby ensuring long and sustainable relationships.

Role

Actuary – Market Analytics and R&D

Key Purpose

A high functioning, dynamic personality with a broad set of skills pertaining to product development, data analytics and marketing. The role will require this Actuary to provide product, market and strategic insights to our distribution channel to increase new business market share and to unlock new support in the IFA space while forming an important part of the R&D team. The incumbent would be involved in:

• Form a key part of Research and Development by utilising industry and new business insights to guide the development of innovative products and services that enhance our value proposition to financial advisers and their clients.
• Anaylsing big data to inform senior management of new business trends and opportunities.
• Collaberate with various stakeholders across the business to create and optimise products, processes and strategies.
• Developing in depth competitor and industry analysis.
• Analysing big data to identify sales opportunities for each distribution channel.
• Being a Discovery Life expert and having sound understanding of the competitive landscape in order to be a subject matter authority in meetings and presentations.

• Development of launch material for distribution.
• Lead meetings with high-net-worth clients and large life writers.
• Create and present targeted client and broker presentations.
• Intellectual leadership through claims documents, journalist articles etc.

The incumbent would be involved in strategic thinking around product ideation, development and launches and would form a crucial element of our broader Reseach and Development team.

Areas of Responsibility

• Utilizing market insight to launch innovative new products and services on an annual basis
• Utilize technical product knowledge, including understanding of competitors, to identify business opportunities
• Develop compelling positioning and roll out of launch, roadshow and campaign material to our financial advisers and franchises to ensure successful execution of deliverables and targets
• Develop automated tools and dashboards to provide real-time insights for key business decisions
• Providing technical product support to Discovery Life’s various distribution channels to ensure successful execution of deliverables and targets
• Provide support to Life Executive Committee and related structures to ensure efficient functioning of the business
• Contribute to strategies based on insights from market feedback, data and other monitoring structures for the collaboration of the broader product development team.
• Assisting with the conservation of certain high value clients

Education and Experience

Essential

• Matric with Mathematics
• Bachelor of Science (BSc), Bachelor of Business Science (BBusSc) or equivalent degree in Actuarial Science
• Fellow of Actuarial Society of South Africa (or any other recognised actuarial professional body)
• At least 2 years working experience as an Actuarial Analyst within the Insurance Industry

Advantageous

• Working experience as an Actuary in the Life Insurance industry

Technical Skills and Knowledge

Essential

• Effective communications skills
• Advanced Analytical and Technical skills
• Problem Solving skills
• Knowledge on Actuarial Modelling
• Knowledge on Data Analysis
• Proficiency in MS Word, MS Excel and MS Outlook
• Take initiative and learn quickly, while being adaptable

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.