Product Development Actuary (Senior) at Discovery Limited

Key Purpose

• Research, development and implementation of innovative insurance products and rewards mechanisms that will complement Discovery Insure’s existing suite of products.

Areas of responsibility may include but not limited to

• Research into strategic insurance initiatives / products to make informed and innovative product development decisions that meet the strategic aims of the business.
• Responsibility for the design, development and implementation of new products.
• Analytical and pricing capabilities to understand the financial implications and parameters involved when developing new products, to ensure profitable results.
• Ability to problem-solve and implement complex and innovative solutions.
• Project management of strategic initiatives.
• Preparation of presentations, proposals and reports to enable key stakeholders to make informed decisions.
• Initiation of projects including business case formulation, seeking approval from the necessary forums and using the current implementation structures to ensure successful implementation.
• Collaboration with various teams within Insure and the group on product development and strategic projects.
• Working with other teams to ensure products are operating in an efficient and accurate manner.
• Monitoring and reporting ongoing results to key stakeholders to ensure products are producing optimal results.

Skills

Technical Skills

• Modelling skills preferred
• Programming skills:

1. SQL (Intermediate)
2. Python/R (Basic)

• Microsoft Office (Excel, PowerPoint and Word) (Advanced)

Behavioural Skills

• Exceptional analytical, problem solving and research skills
• Creative thinking and the ability to operationalise innovation
• Ability to manage ambiguity and continuous change
• Sophisticated written and verbal communication skills
• Leadership qualities
• Project and people management
• Advanced modelling skills and statistical knowledge
• An ability to deal with complex issues as well as migrate between detailed and high-level requirements
• A drive and commitment to exceed expectations
• A reliability and dependability – can be counted on
• The ability to influence and negotiate across divisions and teams at all levels, and with external parties
• A thorough understanding of business dynamics and strategic challenges
• Understand the business and the Group well - advantageous
• Understand the market, competitors and other dynamics - advantageous

Education and Experience

• Matric (Essential)
• Fully completed Actuarial qualification (Essential)  
• 3-5 years of experience in a product development role (Advantageous)
• 3-5 years of experience in short-term insurance (Advantageous)