Actuarial Analyst - Servicing

Discovery – Insure

Actuarial Analyst – Servicing

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Insure

Discovery Insure is committed to creating a nation of great drivers through our innovative Shared-value Insurance model. Discovery Insure is South Africa’s fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home insurance sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.

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)                                                                                                           

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.