Business Analyst (Rates)

Hollard; South Africa; On-site; ZAR 500 000 - 700 000; Full time

Job summary

A prominent South African insurance company is seeking a Business Analyst (Rates) to transform actuarial pricing into effective business solutions. This role demands a minimum of 7 years in IT business analysis and at least 5 years within short-term insurance. Candidates should possess strong analytical skills and experience with rating engines, SQL, and Agile methodologies. Join a dynamic team in a hybrid work environment and contribute significantly to pricing strategies and operational systems.

Qualifications

• Minimum 7 years' experience in IT business analysis, with 5 years in short-term insurance.
• 3-5 years experience with rating engines and data dictionaries.
• Experience in translating actuarial/pricing models into system requirements.

Responsibilities

• Transform actuarial pricing structures into technical solutions.
• Capture rating, pricing, and underwriting requirements.
• Create user stories and acceptance criteria.

Skills

Insurance product structures knowledge

Agile/Scrum experience

SQL knowledge

Strong analytical skills

Stakeholder management

Education

Bachelor's Degree in Business or Information Systems

Business analysis certification

Agile certification

Tools

Azure DevOps

Job description

Closing Date

2026/01/30

Reference Number

HOL251212-1

Job Title

Business Analyst (Rates)

Business Unit

Hollard Insure

Department

Personal Lines Pricing

Job Family

IT

Job Type Classification

Fixed Period Contractor

Reporting To

Head: Pricing

Number of Positions

1

Location - Town / City

Parktown

Location - Province

Gauteng

Location - Country

South Africa

Job Purpose

The Rates Solution Analyst transforms actuarial pricing structures into effective business processes and technical solutions for short‑term insurance. Working closely with underwriters, actuaries, and product owners, the analyst ensures rating models and regulatory changes are accurately integrated into operational systems. The role involves analysing business impacts, validating algorithms, documenting requirements, and supporting agile development to optimise rating processes and enable precise pricing and product delivery.

Key Responsibilities

Requirement Gathering

• Interacting with all relevant stakeholders (underwriters, actuaries, Product Owners etc.) to capture rating, pricing and underwriting requirements.
• Conduct gap analysis and review how current products are set‑up in the system in terms of rating between current and desired rate structures to identify changes and additions required to meet the business requirements.

Solution Design & Documentation

• Translate actuarial outputs (i.e. actuarial models, risk factors, rating structures etc.) into system requirements and business rules.
• Maintain and enhance data dictionaries, ensuring clear definitions and mappings of all data elements that interact with the rating engine and connected financial systems.
• Document risk mitigation strategies not limited to changes, version upgrades or new rating algorithms.
• Review business processes to identify needs, build a clear business case, and share the expected benefits, risks, and impacts with stakeholders.
• Coordinate walk‑throughs with key stakeholders, including product owners and actuarial teams, development and testing teams and ensure their understanding of the intended solution.

Agile Delivery & Backlog Management

• Support cross‑functional teams by creating user stories, guiding the development of acceptance criteria and test cases.
• Champion Agile methodologies, encouraging continuous improvement, and leading all key Agile ceremonies.

Testing & Validation

• Ensure rating rules, formulas and rating tables are accurately implemented in line with business and actuarial specifications.
• Validate premium discounts and underwriting rules against actuarial models. Ensure migration and versions rules are applied efficiently.

Training & Change Management

• Support teams through system changes, upgrades, or new product launches, helping to ensure smooth transitions and effective communication of changes.

Compliance & Governance

• Conduct impact analysis (assessment of the new products, endorsements/MTA and/or regulatory changes on rating models) to identify and understand risk associated with the change.

Continuous Improvement

• Assess existing components (such as base rates, formulas, and risk factors) and consider their use before customizing.
• Make recommendations based on the interpretation of the actuarial technical models into business/system terms.
• Identify opportunities to optimise rating processes, streamline configuration and share learnings and best practices across teams.

Required Knowledge and Experience

Required Experience (relevant or in a similar role)

• Minimum 7 years' working experience in IT business analysis (5 years of which should be in the short‑term insurance environment).
• 3-5 years rating engine experience, including data dictionaries, data mapping, and product configuration.
• Designing and interpreting data flows, sequence diagrams, and ERDs.
• Working with APIs, system integrations and SQL for data retrieval and validation.
• Proven experience translating actuarial/pricing models into system requirements.
• Exposure to multiple insurance products (Commercial and Personal Lines).

Required Knowledge and Skills

• Strong understanding of insurance product structures and premium calculation logic (risk factors, discounts, loadings, fees).
• Agile/Scrum knowledge and practical experience in Agile ceremonies.
• Working understanding of Azure DevOps or similar case management system.
• Excellent documentation skills (BRD, user stories, acceptance criteria).
• Strong stakeholder management.
• Strong analytical, problem solving and detail oriented.

On the job training/familiarisation time

• 3 months.

Educational Requirements

• Matric.
• Business analysis certification.
• Bachelor's Degree in Business and/or relevant Information Systems qualification.
• Agile certification.
• Technical qualifications – SQL, API fundamentals, data modelling.