Pricing Analyst at Santam Insurance

What will you do?

SANTAM RE IS HIRING A PRICING ANALSYT 

• Santam Re, based in Cape Town South Africa and operating globally, presents a company culture that is committed to fostering genuine connections with people. 
• With over 106 years of experience, Santam is Africa’s leading general insurance company with a market share exceeding 24% in South Africa. Our reinsurance business, Santam Re leads with a culture and work environment that truly provides meaningful opportunities for personal and professional growth. This is a contributing factor to Santam being recognised this year, and for the fourth consecutive year, as a Top Employer by the Top Employers Institute, the only general insurer in South Africa to achieve this rating.
• This speaks volumes about our focus on best people practices, as well as our commitment to optimising and improving our business performance by selecting employees who are ready to thrive and perform with purpose. 
• We recruit and invest in people who are driven to make a positive impact in the reinsurance industry; those who believe in collaboration and dedication, passion and performance, and with values and objectives that align to inclusivity and unlimited growth.
• Profitable growth is key to Santam Re’s success, reason why we are intent on further strengthening our actuarial and underwriting expertise which are at the core of our business model. We have built our reputation on being strong in technical analysis, on being able to grasp the nuances of emerging markets, high quality service delivery and in the provision of optimal portfolios that respond to the needs of our brokers and cedents, today and for the future.

JOB DESCRIPTION

• Pricing analyst to report to the Head of Pricing.
• Applicants must be based in Cape Town, South Africa, or be prepared to relocate. The role also requires some travel.
• In this role, you will be required to price Santam Re’s reinsurance contracts across geographic regions, conducting market analysis, and preparing renewal information dashboards and comparisons. This is an excellent opportunity for someone at the early stages of their pricing career who is eager to develop their analytical skills within a dynamic environment.

Key accountabilities and responsibilities include:

• Collect, clean, and analyze information pack data to support the treaty pricing across regions.
• Generate regular reports and dashboards that summarize pricing trends and key performance indicators.
• Assist in preparing presentations and documentation for internal stakeholders.
• Monitor industry trends, competitive pricing strategies, and regulatory updates.
• Conduct research to gather relevant market data and benchmarks.
• Support the team by summarizing findings and providing insights into pricing dynamics.
• Understanding of the Santam RE Underwriting guidelines and underwriting process. 
• Close collaboration with Underwriting department and explaining of the modelling approach used to price a contract. 
• Ongoing training and skilling in the interpretation of data & pricing principles.
• Possible market visits to acquire general underwriting and pricing views from market stakeholders.

What will make you successful in this role?
SKILLS REQUIREMENTS:
Minimum requirements:

• Bachelor’s degree in Actuarial science, Business Science, Mathematics, Statistics or a related quantitative discipline. 
• Minimum of 2 years of experience in pricing, risk analysis, or similar roles within the reinsurance or insurance industry.
• If no reinsurance experience, then short-term insurance industry is preferred. 
• An understanding of how risk is shared between insurer and reinsurer on various reinsurance contracts.
• Strong analytical and problem-solving skills, with proficiency in mathematical/statistical techniques and software skills.
• Ability to collate, analyze and interpret statistical data.
• Knowledge of actuarial principles, insurance/reinsurance concepts, and risk management frameworks.
• Strong written, verbal, and presentation communication skills.
• Ability to build and maintain good internal and external relationships as well as maintaining a high standard of professionalism.
• A high degree of self-management, displaying an organised and measured approach to the workload and the clients.
• Strong planning and organisational skills.
• P&C reinsurance experience.