Pricing Actuary - South Africa
Hire Resolve
Job Specification: Pricing Actuary Position Overview: We are seeking an experienced and highly analytical Pricing Actuary to join our dynamic team. The Pricing Actuary will be responsible for utilising actuarial principles and mathematical models to determine appropriate pricing structures for insurance products. The ideal candidate will possess strong mathematical and statistical skills, excellent attention to detail, and the ability to effectively communicate complex concepts to non-technical stakeholders. Key Responsibilities: Develop and maintain pricing models: Create and enhance actuarial pricing models to accurately determine the cost and profitability of insurance products. Incorporate relevant data, industry trends, and risk factors to ensure pricing structures are effective and competitive. Conduct pricing analysis: Analyze historical and current data to assess the performance and profitability of existing insurance products. Identify areas for improvement and recommend pricing adjustments to maximize profitability while maintaining adequate risk coverage. Collaborate with underwriting teams: Collaborate closely with underwriters and other stakeholders to understand market conditions, product objectives, and risk appetite. Incorporate underwriting guidelines and restrictions into pricing models to ensure alignment between pricing and risk management strategies. Monitor market and industry trends: Stay up-to-date with market dynamics, competitor pricing strategies, and regulatory changes. Proactively identify emerging risks and opportunities and adjust pricing models accordingly to maintain competitiveness in the market. Develop pricing strategies: Work closely with senior management to develop pricing strategies that align with overall business objectives. Provide recommendations on pricing changes, new product development, and entering new markets based on extensive analysis and understanding of the market landscape. Assist in rate filing and compliance: Collaborate with regulatory teams to ensure pricing models and strategies comply with applicable laws and regulations. Provide necessary documentation and support for rate filings and respond to regulatory inquiries as needed. Qualifications: Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field. Advanced degree is a plus. Qualified Actuary (FIA, FSA, FCAS, etc.) or significant progress towards attaining actuarial qualifications. Minimum of 5 years of experience in pricing actuarial roles within the insurance industry. Proficient in actuarial software and modeling tools (e.g., Excel, SAS, R, Python) and experience with pricing software is a plus. Strong analytical and mathematical skills, with the ability to manipulate complex data sets and perform statistical analysis. Excellent understanding of actuarial pricing principles, risk management, and insurance products. Deep knowledge of insurance industry trends, including emerging risks and regulatory requirements. Strong verbal and written communication skills, with the ability to present complex concepts to both technical and non-technical stakeholders. Attention to detail and strong problem-solving abilities. Ability to work both independently and collaboratively in a fast-paced environment.
Apply Now
Facebook
WhatsappRelated Jobs
Head of Research and Development - Johannesburg
...
Head of Research and Development - Cape Town City Centre
...
Actuarial Specialist - Johannesburg
...
Head Of Development Cape Town: Northern Suburbs - South Africa
Network Finance.
...
Head of Research and Development - South Africa
Network Finance.
...