Overview
Actuarial Specialist: Product Development; Microinsurance Jobs in Johannesburg, South Africa at Be Different Recruitment
Position: Actuarial Specialist: Product Development (Microinsurance)
In order to be considered the following is required:
– Bachelor’s Degree in Actuarial Science, Mathematics, Statistics or related field
– Making good progress towards an Actuarial qualification
– Exposure to both life and non-life insurance will be advantageous
– Exposure to pricing and product development in insurance
– At least 3-5 years’ working experience in an actuarial role
Responsibilities:
Data Analysis and Reporting:
– Collect, analyze, and interpret data to support actuarial functions
– Prepare regular reports and presentations for internal and external stakeholders
– Analyse mortality, morbidity, and lapse rates for life insurance
– Analyse key performance metrics for non-life insurance products such as claims loss ratios, frequencies and severities
Pricing and Product Development:
– Assist in the development and pricing of new insurance products
– Ensure products are competitive and compliant with regulatory requirements
– Develop pricing models for life and non-life insurance products
– Conduct profitability analyses for new and existing insurance products
– Assist with the structuring of new deals and finding solutions to improve structuring
Risk Management:
– Identify, assess, and manage risks associated with insurance products
– Support the development of risk mitigation strategies
– Perform stress testing and scenario analysis for life insurance portfolios
– Evaluate underwriting risks for non-life insurance policies
Regulatory Compliance:
– Ensure compliance with relevant actuarial standards and regulatory requirements
– Assist in the preparation of regulatory reports
– Prepare statutory reports for life insurance products
– Ensure non-life insurance products comply with local regulations
Experience Studies and Assumptions Setting:
– Conduct experience studies to inform assumptions used in pricing, reserving and risk management
– Analyse historical data to set assumptions for life insurance products
– Review claims and exposure data to update assumptions for non-life insurance products
Collaboration and Communication:
– Work closely with other departments, such as underwriting, finance, and product development
– Communicate actuarial findings and recommendations effectively
– Collaborate with the underwriting team to refine underwriting guidelines
– Present insurance risk assessments to senior management
Professional Development:
– Stay updated with industry trends, actuarial techniques, and regulatory changes
– Pursue continuous professional development
– Attend industry conferences and training sessions
– Participate in relevant actuarial exams and courses
Information displayed above not limited to advertisement.
Please consider your application as unsuccessful if you have not received a response within 14 days of submitting your application.
Title: Actuarial Specialist: Product Development; Microinsurance
Company: Be Different Recruitment
Location: Johannesburg, South Africa
Category:
