Head : Life Actuarial Product Development & Pricing

Hollard; Johannesburg; On-site; ZAR 1 200 000 - 1 500 000; Full time

Job summary

A leading insurance firm in Johannesburg seeks a Head of Life Actuarial Product Development & Pricing. The incumbent will provide strategic leadership in developing life insurance products, ensuring competitive pricing and compliance with regulations. Responsibilities include overseeing product innovation, managing a team, and engaging with stakeholders. The ideal candidate must possess a relevant actuarial qualification and strong analytical skills.

Qualifications

• Strong leadership skills with experience in product strategy and development.
• Advanced actuarial skills and understanding of insurance pricing.
• Ability to manage regulatory compliance effectively.

Responsibilities

• Sets strategic direction for product development and pricing.
• Leads design and pricing of life insurance products.
• Manages reinsurance strategies and compliance requirements.
• Monitors financial performance of life product portfolio.

Skills

Strategic thinking

Actuarial analysis

Product development

Pricing oversight

Stakeholder engagement

Education

Relevant actuarial qualification

Job description

TheHead : Life Actuarial Product Development & Pricing provides strategic leadership for life insurance product development and pricing across Hollard’s international businesses. The role ensures products are competitively designed, financially sound, and compliant with regulatory and Treating Customers Fairly (TCF) principles. The incumbent drives innovation and profitability, aligns product strategy with Hollard International’s growth objectives, and develops actuarial talent across the regions.

Reporting Structure : Reports into the Head of Actuarial Services and collaborates with the Executive team. This role interacts with Hollard Group’s broader Actuarial community, including domestic and international peers.

Key Responsibilities :

Strategic Leadership & Product Strategy

• Sets strategic direction for product development and pricing across all Hollard International markets.
• Aligns product strategies with corporate goals and local market opportunities.
• Owns the product roadmap, presents recommendations for new products / enhancements to senior executives, and scans market trends for innovation.

Product Development & Pricing Oversight

• Leads design, development, and pricing of individual and group life insurance products in multiple territories.
• Guides new product innovation, ensuring features address market needs and strategic initiatives.
• Owns pricing models and assumptions, conducts profit testing, and updates models based on experience and data.
• Ensures thorough documentation and statutory sign-off for product approvals in each jurisdiction.

Existing Product Management

• Oversees regular pricing reviews and benefit structure revisions.
• Reviews actual experience (claims, lapses, expenses) and adjusts rates / benefits to maintain sustainability and competitiveness.
• Ensures TCF principles are embedded in all product decisions.

Reinsurance Management

• Manages reinsurance strategies, negotiates terms, and incorporates arrangements into product design.
• Maintains governance standards throughout the product lifecycle, enforces internal controls, and ensures compliance with actuarial control function requirements.

Financial Performance

• Monitors and reports on the financial performance of the life product portfolio.
• Conducts experience investigations to validate and refine pricing assumptions.
• Uses analysis results to recommend updates and ensure pricing reflects actual experience.

Regulatory & Compliance Management

• Ensures regulatory requirements are integrated into product development and pricing.
• Coordinates product approval submissions, addresses regulator queries, and secures timely approvals.
• Participates in governance committees to review marketing materials and policy documents for compliance.

Stakeholder Engagement & Collaboration

• Acts as key liaison for product pricing and development, engaging internal and external stakeholders.
• Partners with business heads, product managers, and distribution teams to align offerings with market strategy.
• Collaborates with cross-functional teams (Valuations, IFRS17, IT, Operations, Finance, Risk) and external partners (reinsurers, bancassurance, joint ventures).

Leadership & Team Development

• Directly manages the PD&P team, sets objectives, and oversees deliverables.
• Mentors junior actuaries and analysts, fosters a learning environment, and builds depth in the team.
• Upskills in-country actuarial resources, develops training materials, and runs workshops.
• Conducts performance evaluations, identifies high-potential talent, and prepares succession plans.