Location: Pretoria
Salary: R45 000 – R65 000 p.m.

Job Description:
• Development of Pricing models
o Construction and implementation of pricing models, consisting of Generalised Linear Models for frequency and severity of different risks for motor, household, portable possession, buildings and third party insurance
o Optimising prices by including operational cost and profit margins to optimise prices and projection of future profits
o Implementation of an assessment process to ensure continuous improvement of GLM’s
o Development of retention models
o Analysis of life-time value of policyholders
o Construction of a new bonus-malus (claims history) rating model, making use of a combination of international best practice and South African insurance characteristics, to optimize the renewal process in terms of profitability and customer fairness
• Analysis, modelling and optimisation of acquisitions, retentions, operations and profitability
o Analysis of trends within retentions with an aim to gain insight into market competitiveness and competitor undercutting
o Design and construction of a commission structure for the Sales department, including a model predicting the long and short term effects on profitability of the new structure
o Company-wide cost analysis for use in Price Optimisation of premiums
o Analysis of the profitability of Reinsurance agreements
• Workshops with Pricing Specialists
o Discussions on international best practice and the roadmap towards constructing a truly optimised Pricing Strategy
o Went through all of the company’s pricing models with Pricing Specialists to ensure that we are in-line with international best practice and capabilities
• Structuring, pricing and implementation of non-motor products
o Profitability analysis and pricing for range of motor hire products, contents, all risk, buildings, hail cover, a limited cover product offering for low income segments, a high-end “initial sum insured on write-off or theft” product
o Cross-book profitability analysis of “loss-leader” product
• Conceptualisation, implementation, marketing and management of internship program
o Launched an actuarial internship to develop actuarial graduates and give them first-hand experience in a direct short-term insurer
o Currently training two actuarial graduates to enable them to join the actuarial team
• Telematics Pricing
o Analysis of Telematics data and design of hybrid Telematics Pricing Model
• Ad-hoc projects across the company
• Catastrophe Modelling
o Analysis of statutory catastrophe models and reporting of relevant reserves


Requirements:
• Matric
• Relevant Degree
• CA/CFA/Actuary
• Experience in Commercial Insurance
• Minimum of 2 years’ experience