Insurance Actuarial Analyst

Placements24; Upington; Hybrid; ZAR 420,000 - 640,000; Full time

Benefits offered by this job

Competitive salary

Study assistance for actuarial exams

Comprehensive medical aid

Retirement benefits

Career advancement

Hybrid work arrangement

Job summary

Placements24 in Upington, Northern Cape, ZA is seeking an Insurance Actuarial Analyst to join our team in a hybrid work environment. You will apply quantitative methods to pricing insurance products, calculate reserves, and develop financial models.

The role requires a quantitative degree, progress toward actuarial exams, and 1–3 years’ actuarial experience in insurance. You will collaborate with underwriting, finance, and risk teams to support strategic decisions.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field.
• Progress towards actuarial examinations (ASAs, FSAs, or equivalent).
• 1–3 years of actuarial experience in the insurance industry.
• Strong analytical, problem-solving, and quantitative skills.
• Proficiency in statistical software (R, Python, SAS) and Excel.
• Excellent communication and interpersonal skills.
• Ability to work independently and collaboratively in a hybrid environment.
• Detail-oriented and committed to high-quality work.

Responsibilities

• Perform actuarial calculations for pricing, reserving, and forecasting.
• Develop, test, and maintain financial models for insurance products.
• Analyze claims data and policy information to identify trends and risks.
• Assist in the valuation of liabilities and the assessment of solvency.
• Prepare reports and presentations on actuarial findings for management.
• Collaborate with underwriting and product development teams on new product initiatives.
• Ensure compliance with relevant actuarial standards and regulations.
• Stay current with advancements in actuarial science and technology.
• Support risk management activities and capital allocation strategies.

Skills

Actuarial experience

Analytical skills

Communication

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics

Tools

R

Python

SAS

Excel

Job description

About the Role

Our client is seeking a talented and motivated Insurance Actuarial Analyst to join their team in Upington, Northern Cape, ZA. This role adopts a hybrid work model, offering a blend of remote flexibility and essential office-based collaboration. You will be instrumental in applying mathematical and statistical methods to assess and manage financial risks within the insurance context. Your responsibilities will include pricing insurance products, calculating reserves, analyzing financial data, and contributing to the development of financial models. The ideal candidate will possess strong analytical and quantitative skills, a solid understanding of actuarial principles, and a commitment to accuracy and precision. You will work closely with underwriting, finance, and risk management teams to support strategic decision-making.

Key Responsibilities

• Perform actuarial calculations for pricing, reserving, and forecasting.
• Develop, test, and maintain financial models for insurance products.
• Analyze claims data and policy information to identify trends and risks.
• Assist in the valuation of liabilities and the assessment of solvency.
• Prepare reports and presentations on actuarial findings for management.
• Collaborate with underwriting and product development teams on new product initiatives.
• Ensure compliance with relevant actuarial standards and regulations.
• Stay current with advancements in actuarial science and technology.
• Support risk management activities and capital allocation strategies.

Requirements

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative field.
• Progress towards actuarial examinations (e.g., ASAs, FSAs, or equivalent).
• 1-3 years of actuarial experience in the insurance industry.
• Strong analytical, problem-solving, and quantitative skills.
• Proficiency in statistical software (e.g., R, Python, SAS) and Excel.
• Excellent communication and interpersonal skills.
• Ability to work independently and collaboratively in a hybrid environment.
• Detail-oriented and committed to producing high-quality work.

Benefits

• Competitive salary and study assistance for actuarial exams.
• Comprehensive medical aid and retirement benefits.
• Opportunities for professional growth and career advancement.
• Hybrid work arrangement offering flexibility.
• Exposure to diverse actuarial challenges in the insurance sector.
• A supportive and professional work environment in Upington, Northern Cape, ZA.