Business Unit: Discovery InsureFunction: Actuarial SciencesDate: 11 Oct 2024About DiscoveryDiscovery's core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.About Discovery InsureDiscovery Insure is committed to creating a nation of great drivers and building better businesses through our innovative Shared-value Insurance model. Discovery Insure is South Africa's fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor, home, and business insurance sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1,000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.Key PurposeSeeking a Pricing Manager with a strong background in short-term insurance to lead the development of customer lifetime value models, renewal strategies, and the pricing strategy for Discovery Insure. The ideal candidate will have experience in predictive modeling, data analysis, and actuarial techniques to support business objectives and drive profitability.Areas of responsibility may include but are not limited to:Oversee and guide in-depth investigations and ad-hoc analysis to support pricing decisions and business objectives.Lead the creation and refinement of actuarial models to monitor business performance and support development initiatives.Take ownership of lifetime value models and renewal strategies, ensuring they maximize customer value and retention.Utilize and oversee predictive modeling techniques to segment the client base and identify pricing opportunities.Ensure models are accurate and fit for purpose, regularly monitoring their performance and making necessary adjustments.Establish and maintain monitoring processes to measure model performance, ensuring accuracy and reliability in pricing decisions.Ensure data processes are continuously maintained and updated, providing oversight and direction.Develop and implement pricing strategies aligned with business objectives, ensuring competitiveness and profitability.Technical Skills and KnowledgeExperience with WTW software (e.g., Emblem, Radar)Programming Skills: SQL (Intermediate)Microsoft Office (Excel, PowerPoint, and Word) (Advanced). Insurance experience is advantageous.Education and ExperienceEducation:Matric (Essential)Honours degree in Actuarial Science and/or Mathematical Statistics/Computer Science or Strong mathematical/economics candidate (Essential)FASSA (Advantageous)At least 3–5-year Technical Pricing experience within Insurance industry (advantageous).EMPLOYMENT EQUITYThe Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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