Actuarial Analyst - Servicing at Discovery Limited

Key Purpose

• The Actuarial Analyst role involves conducting investigations and analysis to support pricing decisions, refining actuarial models, and optimizing pricing strategies, particularly at the servicing stage. The role also includes developing lifetime value models, utilizing predictive modelling techniques to identify pricing and upsell opportunities, and ensuring model accuracy and reliability through regular monitoring and adjustments.

Areas of responsibility may include but are not limited to

• Conduct in-depth investigations and ad-hoc analysis to support pricing decisions and business objectives, with a focus on policy amendments and additions.
• Support the creation and refinement of actuarial models to monitor business performance and optimize pricing strategies for policy amendments and new item additions.
• Contribute to the development and maintenance of lifetime value models to maximize customer value, with a particular emphasis on incorporating policy amendments.
• Utilize predictive modeling techniques to segment the client base and identify pricing opportunities, ensuring optimal pricing decisions at all points of the policies lifecycle.
• Utilize predictive modeling techniques to segment the existing client base and identify profitable upsell opportunities
• Ensure models are accurate and fit for purpose by regularly monitoring their performance and making necessary adjustments to optimize pricing.
• Assist in establishing and maintaining monitoring processes to measure model performance, ensuring accuracy and reliability in pricing decisions.
• Support the maintenance and updating of data processes, providing assistance and direction as needed to optimize pricing at point of a client’s interaction

Skills

• Modelling skills preferred (Basic).
• Programming Skills: VBA & SQL (Intermediate).
• Microsoft Office (Excel, PowerPoint and Word) (Advanced).

Education and Experience

Education:

• Matric (Essential)
• Honours degree in Actuarial Science and/or Mathematical Statistics/ Computer Science or Strong mathematical/economics candidate (Essential)
• Min 5-7 completed CT subjects (Essential)

 Minimum Experience:              

• At least 2-3 years Research and Development experience within Insurance industry (Advantageous)