Actuarial Specialist
Hollard Insurance
Date: 1 week ago
City: Johannesburg, Gauteng
Contract type: Full time
Job Purpose
The primary purposes of this role are to:
The primary purposes of this role are to:
- Assist with the design, development, pricing and maintenance of the Hollard Life Solutions (HLS) insurance products (life, health and simple short-term products).
- Monitor and actively manage the ongoing product profitability within Hollard’s risk appetite.
- Initiate and drive new product innovations and efficiencies.
- Support the actuarial administration and management of the in-force suite of products.
- Conduct and assist with experience investigations, including the required data-related work.
- Participate in defining and implementing the product strategy for our Partner Business to help contribute to the overall Hollard Life Solutions strategy.
- Technical pricing (assumption setting, premium calculation, pricing review and financial business projections) of new and existing products and benefits.
- Contribute towards the creation of our customer value propositions in alignment with product concepts and overall product strategy.
- Conceptualise new products and product enhancements based on input from distribution teams, clients and the marketing actuarial function.
- Redevelop products and deploy updates and enhancements based on feedback from stakeholders, ongoing assessment of the effectiveness of product delivery and the performance of the product, as measured by the agreed key performance indicators.
- Identify potential risks associated with benefits and customer segments as well as opportunities to mitigate or avoid.
- Engage with and build & manage relationships with key business stakeholders.
- Define and/or review benefit and technical specifications for new product developments and enhancements to existing products.
- Develop detailed specifications defining product and process designs.
- Develop and draft policy clauses and policy wording in conjunction with Legal function.
- Design and draft customer communications per touch point as well as supporting rules, with assistance from Customer Communications Specialist.
- Provide input to operational and administrative functions with the development of product processes and rules and integrate their feedback and suggestions into the product development process.
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