Actuarial Pricing Specialist – SA1072
Our client is searching for a senior actuarial student with at least 3 years of Short Term Insurance pricing experience to join their Product, Underwriting and Pricing team. This role will be responsible for developing and maintaining pricing models and to construct and review Product Pricing, Revenues, Costs and overall competitiveness and profitability, to project and plan product concepts, analyze and interpret data and provide recommendations on product offerings, and for pricing design and construction. Predicative analytics and data or market insights is also a requirement for this role.
The role includes the following responsibilities:
- Determine pricing for regulated and non-regulated products and ensure they are accurate, competitive and profitable.
- Develop, Maintain and Update pricing methodology and pricing models for different type of channels, clients and products and their respective scenarios
- Analyse the cause of loss ratio and other relevant factors to be able to provide recommendations and assumptions for pricing models.
- Continuously track product and client profitability and detailed tracking of the revenue and costs by understanding of all the levers of profitability and executing appropriately to pull these levers.
- Strategy formulation and execution including Implementing new pricing methodology and concepts in response to the change in market.
- Understand the overall business and drive customer service culture within the organization.
- Meeting deliverables agreed in SLA or personal measurements
- Adhering to the Customer Experience (Internal and External)
- Provide insights on sales, retentions and strategies to improve customer products
- Communicate, liaise and negotiate internally and externally using appropriate methods to facilitate the development of profitable business and sustainable relationships.
- Develop actionable plans to drive up National Insurance Repository (NIR) and to reduce direct and transfer pricing expenses by understanding transactional behavior, and driving changes in this base to reduce channel costs
- Ensure continuous analysis/understanding of Group value proposition (pricing, rewards, product features) relative to the competition and enhancing the product to drive market share growth through tacking market share and developing actionable plans to reach our market share targets and continuous tracking and optimization of product sales across channels.
For more information, please contact Henda ([email protected] or +27 (0)83 603 2961).