Technical Rating Manager, Actuarial Pricing
Stanbic IBTC Bank
Gauteng, South Africa
4d ago

Job Purpose

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

  • Build a policy and claims database to provide a platform for statistical analysis.
  • Provide office and risk premium rating structures that are profitable and competitive.
  • Be able to drive Price Optimisation of Multi-risk products
  • Identify issues hindering optimisation of pricing models and provide solutions to restore efficiency.
  • Able to build predictive models
  • Able to conduct experience investigations
  • Key Responsibilities / Accountabilities

  • Organise and clean the data that is available to ensure up to date reporting.
  • Taking all factors into account, ensure SIL’s pricing model for the different distribution channels are targeting specific levels of profitability.
  • Keeping abreast of international best practice on rating.
  • Ensure accuracy of pricing models are maintained by conducting regular reviews of existing pricing.
  • Preferred Qualification and Experience

  • 3-8 years of short term pricing actuarial experience.
  • Experience is pricing multi-risk insurance products
  • Understanding of insurance business principles.
  • Experience in SAS, Emblem and Radar is required.
  • Knowledge / Technical Skills / Expertise

  • Understanding of insurance business principles.
  • At least four exemptions / exam passes through ASSA
  • Experience in machine learning algorithms will be an advantage
  • Experience in R would be advantageous
  • Apply
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