Actuarial Pricing Analyst
Stanbic IBTC Bank
Constantia Kloof
3d ago

Job Purpose

To support the Pricing Manager, to assist in the development, improvement and implementation of the price and business optimisation for the products underwritten by Standard Insurance Limited (SIL) :

  • Build, maintain and validate database to provide a platform for statistical analyses and modelling.
  • Develop, maintain and implement cancellation, demand, and customer lifetime value models.
  • Monitor model results and highlight areas of improvement.
  • General Business Support
  • Perform ad hoc business-related tasks.
  • Key Responsibilities / Accountabilities

  • Organise and clean the data that is available to ensure up to date reporting.
  • Take all factors into account, ensure SIL’s demand, cancellation and lifetime value models for the different distribution channels are targeting specific levels of profitability.
  • Ensure the accuracy of models is maintained by conducting regular reviews of existing model performance.
  • Preferred Qualification and Experience

    Minimum qualifications

    3 year BSc or BCom with actuarial majors

    Honours will be an added advantage


    At least 6 Actuarial exemptions / Exam passes through the ASSA

    FAIS compliant

  • Minimum 2-3 years of short-term insurance experience
  • 0-2 years of short-term pricing actuarial experience.
  • Understanding of insurance business principles.
  • Experience in SAS, Emblem and Radar or general coding skills will be advantages
  • Knowledge / Technical Skills / Expertise

  • Understanding of insurance business principles.
  • At least six exemptions / exam passes through ASSA
  • Experience in pricing multi-risk insurance products
  • Experience in machine learning algorithms will be an advantage
  • Experience in R would be advantageous

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