Senior Actuarial Pricing Specialist - Short Term Insurance

Micah Govender Developments; Centurion; On-site; ZAR 600 000 - 900 000; Full time

Job summary

A dynamic insurance company based in Centurion seeks a skilled Actuary to manage and price short-term insurance risks. The ideal candidate will have over 5 years of actuarial experience, leading the development of pricing strategies while ensuring profitability. Responsibilities include implementing pricing models, analyzing data for enhancements, and supporting product innovation. Candidates must hold a Bachelor’s degree in Actuarial Sciences and be a qualified actuary.

Qualifications

• 5+ years of Actuarial modelling and pricing experience in Short-Term Insurance.
• Experience in software packages including SQL, SAS, R, Python.
• Ability to identify improvements and drive completion of tasks.

Responsibilities

• Develop and implement pricing models for Short-Term Insurance.
• Analyze data to improve pricing strategies.
• Support innovative product development.

Skills

Actuarial modelling

Pricing strategies

Data analysis

Problem-solving

Communication skills

Education

Bachelor’s degree in Actuarial Sciences

Qualified actuary

Tools

SQL

SAS

R

Python

Willis Towers Watson

Earnix

AKUR8

Job description

SUMMARY

Short Term Insurance - Personal and Commercial lines

POSITION INFO : Role Purpose

The purpose of this role is to price and manage the risk in respect of new and existing business to ensure profitability and sustainability. The area is a high-pressure environment, and the suitable candidate needs to be able to produce high quality work while ensuring that tight deadlines are met.

Responsibilities and work outputs

• Maintain, develop, and implement market leading Short-Term Insurance pricing models.
• Explore and identify data and rating enhancements to inform pricing models.
• Ownership of model performance against actual experience and acting on model weaknesses.
• Developing and implementing pricing strategies for new and existing business to achieve growth and profit objectives.
• Support the development of new and innovative products.
• Drive, implement and maintain proper governance on pricing developed / deployed.
• Support / advise the business using data and analytics.

Competencies required

• Passion for Short-Term Insurance (STI) and pricing STI products.
• Taking initiative to identify areas for improvement and act on it.
• Being creative and finding innovative solutions.
• Making practical and financially sound decisions.
• Ability to take ownership of deliverables and drive them to completion with minimum supervision.
• Ability to perform under pressure and effective management of time to ensure project timelines are met.
• Ability to manage multiple tasks concurrently.
• Meticulous attentiveness to detail and accuracy.
• Good communication skills – written and verbal.

Experience and Qualifications

• Bachelor’s degree in Actuarial Sciences
• Qualified actuary
• 5 years or more of Actuarial modelling and pricing experience within the Short-Term Insurance industry.
• Experience with software packages like SQL, SAS, R, Python, Willis Towers Watson, Earnix and AKUR8

Experience with programming and mining large datasets for commercial value.