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Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. Our success is rooted in our passion for our clients and everything we do is centred on our delivery of Insurance Good and Proper.
With over 106 years of experience, Santam is Africa's leading general insurance company with a market share exceeding 24% in South Africa. Our client solutions business leads with a culture and work environment that truly provides meaningful opportunities for personal and professional growth. This is a contributing factor to Santam being recognised this year, and for the fourth consecutive year, as a Top Employer by the Top Employers Institute, the only general insurer in South Africa to achieve this rating.
This speaks volumes about our focus on best people practices, as well as our commitment to optimising and improving our business performance by selecting employees who are ready to thrive and perform with purpose.
Santam Client Solutions (SCS) Pricing function is a key insurance capability of Santam's SCS business unit, ensuring the achievement of the business unit's growth and profit targets. Close collaboration with internal stakeholders, such as Underwriting, Operations, Distribution and Claims is required, to achieve these financial targets. And similarly, a proper understanding of the needs for external stakeholders and our clients is essential.
What will you do?To focus on the technical development, maintanence and implementation of pricing models, ensuring accountability for profitability. This also includes maintaining and refining existing risk-based pricing models across all products within SCS, ensuring SCS pricing governance and controls are followed and that all the sign-off processes are adhered to before pricing models are implemented
Key accountabilities and responsibilities include:
• Execute pricing strategies aligned with business objectives to ensure profitability for SCS while remaining competitive in the market
• Build, maintain and implement scientific risk pricing models, ensuring pricing models are regularly updated through ongoing refinements and testing
• Build pricing adequacy reporting framework
• Apply advanced actuarial/statistical techniques using modern technology tools in analysing data and implementing pricing initiatives.
• Technical pricing innovation and improvement on existing models to achieve short-term and long-term business targets
• Ensure governance process are followed
• Input into product development and business processes where required
What do you need?Bachelor's degree in actuarial science, statistics or similar qualification
• Nearly qualified actuary, good progress with actuarial exams or similar
• Proven track record of at least 4 years' experience within short term insurance pricing environment.
• Good knowledge of Commercial and Personal products is advantageous.
Skills
• Technical pricing skills
• Management of a pricing team
• Skilled in leading and coaching staff to keep pricing talents engaged and productive
• Excellent English communication & report-writing and presentation skills
• Establish interpersonal relationship, negotiating and networking skills
• Ability to influence
• Ability to work under pressure with appropriate prioritisation skills
• Results-orientated and deadline driven
• Analytical skills and problem-solving abilities
• Creativity and ability to innovate and find new solutions to new challenges
• Able to organise own and others' workloads to achieve priorities and objectives
• Demonstrate capability to think of the organisation holistically
• Empowering others
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.
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