Role overview
To develop and manage a strategy and operating model for the Pricing department that supports the growth and development of the Mutual & Federal business through developing, implementing risk-based pricing across all product sets and distribution mechanisms in all geographies. Furthermore, to identify market opportunities through competitor and market analysis and to produce underwriting performance BI for the company
Key Responsibilities
- Develop, plan for, implement and take accountability for the strategy and operating model of the Pricing Department, partnering with the Executive: Underwriting in response to the business model and Mutual & Federal strategy.
- Establish an aligned departmental Balanced Scorecard focused on the implementation, measuring and management of the departmental strategy.
- Determine the business value chain for the Pricing Department and ensure that this value chain is aligned and integrated with the Underwriting Division value chain.
- Manage rate change process for existing products and rate design & implementation for new products across distribution and platforms.
- Manage strategic price implementation and price strength analysis and reporting
- Provide & analyse underwriting results for the organisation.
- Provide data specifications for connectivity and rate engines.
- Contribute to strategies and related processes to continuously grow the target market. Actively participate in the analysis and monitoring of the industry, target market and competitors to identify opportunities and threats. Ensure that the Mutual & Federal operates on a profitable and financially viable basis through an optimised pricing model.
- Manage and control price discounting through framework design, implementation and tracking
- Liaise with the Corporate Actuarial department to drive pricing models that are competitive and relevant to the environment.
- Establish, monitor and review pricing principles for bundled products, new business and existing business that are relevant to the target markets.
- Review third party pricing models during due diligence and review processes and provide insights and advice on necessary changes.
- Deliver on projects and initiatives within agreed deadlines.
Experience required
- 5 – 10 years’ actuarial pricing experience in short-term insurance
- 2-5 years’ experience in the management of people, at least at manager of manager level.
- BSC Actuarial BCom Actuarial or BCom Economics
- FIA or FASSA qualification preferred or near to qualification with significant short-term pricing experience
Please note, interviews for this position will take place at our Careers in Africa Recruitment Summit in London, 16- 18th of May 2014. Relevant candidates will be contacted and invited to attend the event.