Actuarial Specialist needed at Hollard Insurance

Save

Job title : Actuarial Specialist

Job Location : Gauteng,

Deadline : January 12, 2025

Quick Recommended Links

Job Advert Summary    
Job Purpose

The primary purposes of this role are to:

  • Assist with the design, development, pricing and maintenance of the range of Hollard Life Solutions (HLS) insurance products (life, non-life and health products).
  • Support the actuarial administration and management of the in-force suite of products.
  • Monitor the ongoing product profitability and assist with the management thereof within Hollard’s risk appetite.
  • Conduct and assist with experience investigations, including the required data-related work.
  • Collaborate with other team members in a professional manner in order to deliver on Hollard’s shared vision

Key Responsibilities

  • Define benefit and technical specifications for new product developments and enhancements to existing products.
  • Resolve technical queries on premiums, benefits and values and assist with product and benefit complaints appropriately.
  • Technical pricing (assumption setting, premium calculation, pricing review and financial business projections) of new and existing products and benefits. • Draft and/or review policy documents, policy terms and conditions, product marketing and 
  • customer communication, and ensuring that these are compliant to Governance standards 
  • within Hollard.
  • Ensure alignment of new and existing products to legislation, industry guidelines or codes.
  • Testing premiums and benefits to ensure products are implemented in line with specifications.
  • Monitor ongoing performance of products and assess whether product development objectives are being met.
  • Understand the partner business model in order to identify relevant opportunities and risks.
  • Ad-hoc projects and investigations.
  • Monitor the competitive positioning of products and benefits relative to the market by features, simplicity, price and ease of business.
  •  Identify potential risks associated with benefits and customer segments as well as opportunities to mitigate or avoid.
  •  Develop product and benefit training material as required.
  •  Conceptualise new products and product enhancements.
  • Provide product support to other internal departments such Operations and Distribution.
  •  Provide technical benefit support on public relations articles.
  • Engage with other stakeholders in the business.

Required Knowledge and Experience    
Experience

  • 0 to 4 years of experience in financial services. Exposure to life insurance is beneficial.

Knowledge of the below is beneficial:

  • Discounted cashflow modelling 
  • VBA
  • SQL 

Knowledge and Skills

  • High attention to detail
  • High degree of accuracy
  • Technically strong
  • Ability to work on multiple tasks simultaneously
  • Ability / desire to challenge the status quo
  • Sound relationship building skills
  •  Passion for products, pricing and people
  •  Broad Life Insurance knowledge
  • Broad understanding of insurance distribution methods and administration systems
  • Commercial mindset and interest in the role of life insurance within society
  • Ability to plan, prioritise and work towards deadlines
  • Ability to communicate clearly to colleagues and management both verbally and in writing with the ability to tailor complex communication depending on the audience.
  •  Self-starter / initiator
  • Critical thinking and sound questioning of concepts or ideas
  • Analytical skills and attention to detail, balanced with strategic vision, a strongly developed creative side and big-picture thinking ability 

Educational Requirements    
Qualifications

  • 3-year degree in actuarial science.
  • Making good progress with the Technical subjects of a professional actuarial qualification.

How to Apply for this Offer

Interested and Qualified candidates should Click here to Apply Now

  • Insurance  jobs