Actuarial Specialist Pricing Bryte Life

Bryte Insurance Company Limited

Gauteng, South Africa

Permanent

Aug 12

Bryte Insurance Company Limited is the premier, proactive commercial risk specialist in Southern Africa. Applying our unparalleled sector insights, proven expertise and foresight, we partner with customers and brokers to protect their businesses and improve their risk profile across the continent. Bryte Insurance Company Limited approaches customer risk with purpose, proactively working with brokers and customers to enable better risk decisions.Our opportunityThe Bryte Life Insurance Pricing Team services all life insurance market segments for the company, i.e. Group Schemes and Retail. We price all lines of business, e.g. Group and Individual Life Assurance, Disability, Credit Life Funeral, etc.We are looking for suitable candidates to join our LTI pricing team. The team develops its members to become LTI pricing specialists and mangers, whereby they learn to establish and maintain broker relationships, set, monitor and maintain a long term insurer's pricing bases and review pricing on large accounts, UMAs and other insurance partners. Ultimately the incumbent will combine strategic thinking, analytical prowess, in depth underwriting acumen, relationship management and communication skills to influence and direct business activity. Experience would determine where they start their learning. We cover all aspects of the long term insurance pricing problem, e.g. rules engine development and maintenance, loss ratio and pricing basis performance monitoring, per peril pricing basis reviews, as well as maintain and benchmark large group risk pricing bases. Techniques range from deterministic to stochastic.Software exposure that would be gained in our area includes. Microsoft Office Excel, Word, VBA programming, Data wielding using SAS, Modelling software from Willis Towers Watson, i.e. Emblem, Classifier and Radar, Geo-spatial analytical software from GRIP, i.e. SpatialKey, DuckCreek Rules Engine, Qlikview, etc.We typically employ actuarial students from CT level to qualified actuaries. We through effective project planning and management are able to adhere to and fully support Bryte Insurance's Actuarial Study Policy. In terms of this study policy significant financial and study leave support is afforded students. The Bryte actuarial community services the business in the areas of Claims Analytics, Pricing, Capital and Reserving. Claims Analytics. The Pricing team reports into the Managing Director of the Life Insurance Business, while Capital and Reserving report into the Chief Financial Officer. Key Tasks and AccountabilitiesGeneralProvide pricing services with minimal supervision by a more experienced team member.Perform analyses as assigned Gain and demonstrate increasing mastery of relevant pricing disciplines and procedures.Actively pursue actuarial qualification and achieve regular progress in exams.Pricing specificRun, check and maintain monthly data builds as input to various analyses using suitable software programme.Help maintain and develop rating tools, templates and rules engines, including testing of new pricing bases deployed. Analyse and report on various price monitoring aspects, e.g. loss ratios, rate changes, price strength ratios, quote success ratios, claims process, etc.Take part in pricing projects, i.e. learn to build, calibrate and fit pricing models.Produce analyses and reports informing renewal targets and processes.Develop and expose new data sources Develop and publish dashboardsBusiness Support Ad HocPerform claims analytics and reportsPerform data analytics and/or reinsurance analysesAnalyse operational data to inform decisions and behavioursAnalyse economic indicators for trends and set assumptionsDevelop and help productionalise new data sourcesResolve pricing related queries from businessSetup and drive client engagementParticipate in client relationship discussions and meetingsRelationshipsActuarial Committee RepresentativePricing ManagerUnderwritingClaimsFinanceMarketingLegal and CompliancePeers within team

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