Actuarial Analyst – Ratings – Insurance Industry

Company:AtripleA Recruitment and Temps
Location:Pretoria, 2000
Job Category:
Full time
Employment Type:Full time
Salary:45 000 - 65 000

Fax your CV to 0864938929

Job Description:

Actuarial Analyst – Ratings – Insurance Industry
Location: Pretoria
Salary: R45 000 – R65 000 p.m.
Job Description:
  • Development of Pricing models
    • Construction and implementation of pricing models, consisting of Generalised Linear Models for frequency and severity of different risks for motor, household, portable possession, buildings and third party insurance
    • Optimising prices by including operational cost and profit margins to optimise prices and projection of future profits
    • Implementation of an assessment process to ensure continuous improvement of GLM’s
    • Development of retention models
    • Analysis of life-time value of policyholders
    • Construction of a new bonus-malus (claims history) rating model, making use of a combination of international best practice and South African insurance characteristics, to optimize the renewal process in terms of profitability and customer fairness
  • Analysis, modelling and optimisation of acquisitions, retentions, operations and profitability
    • Analysis of trends within retentions with an aim to gain insight into market competitiveness and competitor undercutting
    • Design and construction of a commission structure for the Sales department, including a model predicting the long and short term effects on profitability of the new structure
    • Company-wide cost analysis for use in Price Optimisation of premiums
    • Analysis of the profitability of Reinsurance agreements
  • Workshops with Pricing Specialists
    • Discussions on international best practice and the roadmap towards constructing a truly optimised Pricing Strategy
    • Went through all of the company’s pricing models with Pricing Specialists to ensure that we are in-line with international best practice and capabilities
  • Structuring, pricing and implementation of non-motor products
    • Profitability analysis and pricing for range of motor hire products, contents, all risk, buildings, hail cover, a limited cover product offering for low income segments, a high-end “initial sum insured on write-off or theft” product
    • Cross-book profitability analysis of “loss-leader” product
  • Conceptualisation, implementation, marketing and management of internship program
    • Launched an actuarial internship to develop actuarial graduates and give them first-hand experience in a direct short-term insurer
    • Currently training two actuarial graduates to enable them to join the actuarial team
  • Telematics Pricing
    • Analysis of Telematics data and design of hybrid Telematics Pricing Model
  • Ad-hoc projects across the company
  • Catastrophe Modelling
    • Analysis of statutory catastrophe models and reporting of relevant reserves

Job Requirements:

  • Matric
  • Relevant Degree
  • CA/CFA/Actuary
  • Experience in Commercial Insurance
  • Minimum of 2 years’ experience
Send your CV and latest pay slip to
AtripleA Recruitment and Temps

Fax your CV to 0864938929

Company Info

Location:Pretoria, 2000