Actuarial Pricing Specialist - Short Term Insurance

SUMMARY:
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.

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 or nearly qualified actuary
• 5 years or more of Actuarial modelling and pricing experience within the Short-Term Insurance industry. Preference will be given to candidates that demonstrate advanced pricing and product development experience.
• Experience with software packages like SQL, SAS, R, Python, Willis Towers Watson, Earnix and AKUR8
• Advanced Microsoft Office, in particular Excel, user.

Experience with programming and mining large datasets for commercial value.