Actuarial Pricing Specialist

Job Title: Actuarial Pricing Specialist Position Type: Permanent Location: Centurion, Gauteng, South Africa (Hybrid/Remote option available) Role Overview: The Actuarial Pricing Specialist will play a critical role in pricing and managing risk for new and existing business within the Short-Term Insurance sector. This individual will be responsible for developing, implementing, and maintaining market-leading pricing models that ensure profitability and sustainability. The role requires expertise in actuarial pricing, advanced data analysis, and the ability to make data-driven decisions in a high-pressure, deadline-driven environment. Key Responsibilities: Develop and Implement Pricing Models: Design, develop, and maintain pricing models for Short-Term Insurance products. Continuously improve these models to reflect market trends, risk factors, and business objectives. Enhance Data and Rating Strategies: Identify opportunities to enhance data collection methods, rating structures, and analytics processes to inform and optimize pricing decisions. Monitor Model Performance: Regularly review pricing models to track their performance against actual outcomes, identifying weaknesses and making necessary adjustments to improve model accuracy and effectiveness. Develop Pricing Strategies: Lead the development and implementation of pricing strategies for both new and existing products. Ensure these strategies support growth and profitability goals for the business. Support Product Development: Work closely with cross-functional teams to support the development of innovative products, providing actuarial insights that drive product success. Governance and Compliance: Ensure that all pricing models comply with internal governance and external regulatory standards. Implement proper procedures for pricing deployment and ongoing monitoring. Data Analytics and Reporting: Utilize advanced data analytics to support business decisions, and provide clear, actionable insights for senior leadership and other stakeholders. Collaboration: Collaborate with various business units, including underwriting, claims, and product development, to ensure pricing models align with overall business strategies and objectives. Qualifications and Experience: Education: Bachelors degree in Actuarial Sciences. Professional Qualification: Qualified actuary or nearly qualified actuary. Experience: A minimum of 5 years experience in actuarial modeling and pricing, particularly within the Short-Term Insurance industry. Preference will be given to candidates with advanced pricing and product development experience. Technical Skills: Proficiency in actuarial software and tools, including SQL , SAS , R , Python , and Earnix . Advanced proficiency in Microsoft Excel , particularly with functions like pivot tables, data analysis, and macros. Experience with large datasets and programming to extract commercial value from data.

Location: Gauteng, ZA

Posted Date: 1/7/2025