Actuarial Specialist - Product Development (Microinsurance) …, Soweto

Actuarial Specialist - Product Development (Microinsurance) An established Insurance firm is in the market for an

Actuarial Specialist - Product Development (Microinsurance)

who is responsible for supporting the design, pricing, and profitability assessment of life and non‑life insurance products. The role involves analysing

insurance experience

data (including mortality, morbidity, claims, and lapse rates), developing

pricing and risk models , and conducting scenario and stress testing to support decision‑making and portfolio management. The role also ensures regulatory compliance, contributes to statutory reporting, and supports the setting of actuarial assumptions through experience studies. In addition, it involves close collaboration with underwriting, finance, and product teams to support product structuring, risk management, and client solutions.

Responsibilities

Support design, pricing, and profitability analysis of life and non‑life insurance products

Build and maintain actuarial pricing and risk models for new and existing products

Analyse experiences data including mortality, morbidity, lapse rates, and claims performance

Conduct profitability assessments and support product structuring and solutions

Perform stress testing and scenario analysis for risk and portfolio management

Contribute to risk assessment, underwriting evaluation, and risk mitigation strategies

Ensure compliance with regulatory and actuarial standards and support statutory reporting

Conduct experience studies to set and update actuarial assumptions

Collaborate with underwriting, finance, and product development teams on solutions

Present insights and recommendations to senior stakeholders and clients

Support continuous professional development and stay updated on industry practices

Qualifications&Experience

Bachelor's Degree in Actuarial Science, Mathematics, Statistics, or related field.

Progress toward completion of actuarial qualification (e.g., IFoA, ASSA, SOA).

3‑5 years' experience in an actuarial or insurance analytics role.

Exposure to life and non‑life insurance products (advantageous).

Experience in pricing, product development, or risk analytics.

The Reference Number NG61143 is for a Permanent Hybrid position based in Johannesburg offering a cost‑to‑company of up to R800k per annum, negotiable on experience and ability.

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