Actuarial Specialist needed at Hollard Insurance
Job title : Actuarial Specialist
Job Location : Gauteng,
Deadline : January 12, 2025
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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
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