Head of Actuarial Pricing - Personal Lines

Placements24; Rustenburg; Hybrid; ZAR 1,200,000 - 1,800,000; Full time

Benefits offered by this job

Medical aid

Retirement annuity

Performance bonuses

Job summary

Placements24 invites applications for Head of Actuarial Pricing in Rustenburg to shape pricing strategy for Personal Lines, oversee pricing models, and drive profitability. You will lead a pricing team and collaborate across product, marketing, and underwriting to deliver competitive offerings.

Required are 10+ years post-qualification experience in general insurance pricing, strong leadership, and expertise in R/Python and actuarial software. SA regulatory awareness is essential for success.

Qualifications

• Minimum 10 years post-qualification experience in general insurance with a pricing focus.
• Experience leading actuarial teams.
• Strong knowledge of personal lines pricing challenges.
• Proficient in R and Python for pricing models.
• Understanding of South African insurance market and regulatory environment.

Responsibilities

• Lead the actuarial pricing function for all personal lines insurance products including motor, household, and travel.
• Develop, implement, and maintain pricing models and methodologies to ensure competitive rates and profitability.
• Manage, mentor, and develop the pricing team to foster high performance.
• Collaborate with product development, marketing, and underwriting to launch/refine products.
• Analyse pricing outcomes, profitability, and market competitiveness; provide insights to senior management.
• Present complex findings to non-technical audiences, including executives.
• Ensure compliance with regulatory requirements and internal governance.

Skills

Statistical modeling

R

Python

Actuarial software

Leadership

Stakeholder management

Communication

Education

Actuary (FCA/FFA) or nearing qualification

Tools

SQL

Job description

About the Role

Our client, a forward-thinking insurance group, is looking for an accomplished and visionary Head of Actuarial Pricing to lead their Personal Lines division based in Rustenburg . This senior role is pivotal in shaping the company's pricing strategy, ensuring competitive product offerings, and driving profitable growth. The Head of Actuarial Pricing will oversee the development and implementation of sophisticated pricing models, manage a team of talented actuaries, and collaborate closely with key stakeholders across the business. This is an exceptional opportunity to influence strategic decisions and contribute significantly to the financial health and market position of our client in North West province.

Key Responsibilities

• Lead the actuarial pricing function for all personal lines insurance products, including motor, household, and travel.


• Develop, implement, and maintain robust pricing models and methodologies that ensure competitive rates while achieving profitability targets.


• Manage, mentor, and develop the actuarial pricing team, fostering a high-performance culture and professional growth.


• Collaborate with product development, marketing, and underwriting teams to launch new products and refine existing ones.


• Conduct regular analysis of pricing outcomes, profitability, and market competitiveness, providing insights and recommendations to senior management.


• Stay abreast of industry trends, regulatory changes, and advancements in actuarial techniques, integrating them into pricing strategies.


• Present complex actuarial findings and recommendations to non-technical audiences, including executive leadership.


• Ensure compliance with all relevant regulatory requirements and internal governance standards.


• Oversee the data governance and quality assurance processes for pricing data.

Requirements

• A qualified or nearly qualified actuary with a minimum of 10 years of post-qualification experience in general insurance, with a strong focus on pricing.


• Demonstrated experience leading and managing actuarial teams.


• Expertise in personal lines insurance products and their associated pricing challenges.


• Advanced knowledge of statistical modeling techniques, programming languages (e.g., R, Python), and actuarial software.


• Proven ability to translate complex analytical results into actionable business strategies.


• Strong communication, presentation, and stakeholder management skills.


• Understanding of the South African insurance market and regulatory environment is essential.


• Experience with data manipulation and analysis tools such as SQL.


• A strategic mindset with the ability to balance technical accuracy with business objectives.

Benefits

Our client offers a highly competitive executive salary and a comprehensive benefits package, including medical aid, a generous retirement annuity, and performance-based bonuses. Opportunities for continuous professional development and attendance at international actuarial conferences are provided. This role offers significant career progression potential within a growing organization. Join our client's innovative team in Rustenburg and contribute to shaping the future of personal lines insurance. Work within a dynamic and supportive professional environment.