Manager: Pricing at Old Mutual South Africa

Job Purpose

Manage, implement and monitor the pricing strategy to support the growth and development of the business through a risk-based pricing model across all product sets and distribution mechanisms nationally. Identify market opportunities through competitor and market analysis and to produce business intelligence on underwriting performance and / or profitability of the business.

Job Objective

Manage the pricing strategy to support the growth and development of the business through a risk-based pricing model

• Accountable for the management and implementation of a pricing strategy and model across all product sets and distribution mechanisms nationally.
• Understand the end-to-end customer value chain to identify opportunities to improve the profitability of the product offering through risk-based selection and / or product rationalisation / design.
• Manage rate change process for existing products and rate design & implementation for new products across platforms to ensure that the organisation operates on a profitable and financially viable basis through an optimised pricing model.
• Manage strategic price implementation and price strength analysis and reporting.
• Provide data specifications for connectivity and rate engines.
• Contribute to strategies and related processes to continuously grow the target market.
• Actively participate in the analysis and monitoring of the industry, target market and competitors to identify opportunities and threats.
• Build models to profit test changes to existing products as well and potential new products.
• Establish, monitor and review pricing principles for bundled products, new business and existing business that are relevant to the target markets.
• Review third party pricing models during due diligence and review processes and provide insights and advice on necessary changes.
• Deliver on projects and initiatives within agreed deadlines.
• Monitor market conditions, competitive landscape, regulatory and technological changes to ensure the pricing strategy remains relevant.
• Apply advances actuarial/statistical techniques in analysing pricing data.

Change methodology and ensure implementation across all projects

• Ensure project and change initiatives meet objectives on time and on budget by increasing user adoption and proficiency.
• Responsible for implementing change management strategies and plans that maximize user adoption and proficiency and minimize resistance by increasing benefit realization, value creation, ROI and the achievement of business results and outcomes.
• Provide customer and competitor insights that will guide product development and improve user adoption or uptake. 

Minimum Requirements

• Near or newly Qualified Actuary.
• 3 – 6 years’ experience in pricing within the Insurance Industry.
• Strong knowledge of GLM pricing techniques

Shortlisted candidates will be subjected to the following statutory checks:

• ITC
• Criminal
• References
• Qualifications