Insurance Policy Analyst

Placements24; George; Hybrid; ZAR 420,000 - 600,000; Full time

Benefits offered by this job

Competitive salary

Hybrid work model

Medical aid

Pension/ retirement fund

Professional development

Annual leave

Job summary

Placements24 in George, Western Cape, is seeking an Insurance Policy Analyst to interpret policy wordings, assess risks, and contribute to product development. The role involves collaboration with underwriting, claims, and actuarial teams to ensure policies are compliant and competitive.

The position offers hybrid work, professional development opportunities, and a clear path for growth within a stable financial services organisation. A relevant degree and 3+ years in insurance are preferred.

Qualifications

• Bachelor's degree in Finance, Economics, Actuarial Science, Risk Management, or a related field.
• Strong analytical and numerical abilities with attention to detail.

Responsibilities

• Analyze and interpret insurance policy documents for clarity, accuracy, and regulatory compliance.
• Conduct market trend research and advise on policy enhancements.
• Collaborate with actuarial team to ensure pricing reflects policy risks.
• Prepare documentation for internal and external stakeholders on policy terms.

Skills

Analytical thinking

Quantitative skills

Communication

Time management

Team collaboration

Report writing

Education

Bachelor's degree in Finance, Economics, Actuarial Science, Risk Management or related field

Tools

Excel

Job description

About the Role

Our client, a prominent player in the insurance industry, is seeking a meticulous and analytical Insurance Policy Analyst to join their team based in **George**, Western Cape. This role requires a candidate who can interpret complex policy wordings, assess risks, and contribute to the development and refinement of insurance products. While the role is primarily office-based, a hybrid work model is in place, offering a blend of in-office collaboration and remote flexibility. You will work closely with underwriting, claims, and product development teams to ensure our policies are competitive, compliant, and meet the evolving needs of our diverse clientele. This is a fantastic opportunity to make a tangible impact on product strategy and risk management within a stable and reputable organization.

Key Responsibilities

• Analyze and interpret insurance policy documents, ensuring clarity, accuracy, and compliance with regulatory standards.
• Conduct research on market trends, competitor products, and customer feedback to identify opportunities for policy enhancement.
• Assist in the design, development, and implementation of new insurance products and policy variations.
• Evaluate the financial implications and risk exposure associated with policy features and terms.
• Collaborate with the actuarial team to ensure pricing models accurately reflect policy risks.
• Prepare clear and concise documentation for internal stakeholders and external regulators regarding policy terms and conditions.
• Provide expert advice and support to underwriting and claims departments on policy interpretation and application.
• Monitor the performance of existing policies and recommend adjustments as necessary.
• Maintain a comprehensive understanding of relevant insurance legislation and industry best practices.
• Participate in cross-functional team meetings to discuss product performance and strategic initiatives.

Requirements

• A Bachelor's degree in Finance, Economics, Actuarial Science, Risk Management, or a related field.
• Minimum of 3 years of experience in the insurance industry, specifically in policy analysis, underwriting, or product development.
• Strong understanding of insurance principles, policy structures, and regulatory frameworks.
• Excellent analytical and quantitative skills, with a keen eye for detail.
• Proficiency in data analysis tools and Microsoft Office Suite, particularly Excel.
• Effective communication and interpersonal skills, with the ability to explain complex concepts clearly.
• Experience with hybrid work environments, demonstrating self-discipline and time management.
• Ability to work collaboratively in a team setting and manage multiple priorities.
• Strong research and report-writing capabilities.
• A proactive approach to identifying and solving problems.

Benefits

• Competitive salary package.
• Hybrid work model offering flexibility.
• Opportunity to contribute to product innovation.
• Medical aid and retirement fund contributions.
• Professional development and training opportunities.
• A supportive and collaborative work environment.
• Paid annual leave.
• Potential for career growth within the organization.
• Exposure to a wide range of insurance products and markets.
• Secure and stable employment in the financial services sector.