Job Description
Description:
Assist in developing and pricing products & System design (Individual Life, Direct Marketing and Group Schemes):
• Research of new market developments and generation of new product ideas
• Competitor analysis and feedback from sales staff are used to indicate areas where product development is required
• Research product feasibility including administration requirements
• Check compatibility with business ethics
• Assist in the finalization of recommendations to the Life Actuarial Committee
• Perform pricing for target profitability and expense recoupment and assist in the obtaining of Actuarial Certificate from Statutory Actuary.
• Prophet work done with Actuarial Valuations department.
• Ensure final pricing and product offering will be market competitive (TCF)
• Assist with operational matters around product rollouts application forms, quote package and administration system readiness
• Collaborate with other departments (like Client Services, Underwriting and Client Services) to improve systems and processes
• Maintain open relationship and interaction with the sales field
• Develop sales aids, marketing concepts and presentations to support sales
• Price group funeral cover
Monitoring of in-force business:
• Monitor and analyse in-force data
• Perform experience analysis based on report received from reinsurers and valuations department to confirm lapse assumptions and mortality/morbidity assumptions
• Develop amendment bases for changes to in-force business
• Monitor and maintain value of in-force business
• Contribute to the assessment of performance of group schemes and recommend actions when needed
• Report to management
Maintenance of reinsurance treaties:
• Research risk rates and reinsurance terms available in the market – including the use of financial reinsurance
• Oversee that data and information are provided to reinsurers for special projects
• Maintain relationship with current and potential future reinsurers
• Contribute to ensure that optimal levels of reinsurance are in place
Provide professional input & support to the Group:
• Answer client queries of a technical nature that was escalated by staff members
• Attend to ombudsman queries of a technical nature
• Assist with amendments to policies where support is required
• Answer values and product related queries from other departments
Requirements:
• B Degree Actuarial Sciences
• Passed the A-level subjects
• Close to qualification
• Prophet experience – Technical Certification
• 3 to 5 years in long-term insurance
• Product development and pricing
How to Apply
Click the green “Go Apply” button below to apply directly online with the employer.
About Other Insurance Jobs in Gauteng
The Other Insurance (OI) industry is a significant sector in Gauteng, South Africa, offering a range of career opportunities for professionals with the right skills and experience. Typically, OI roles are in demand across various industries, including financial services, technology, and manufacturing, as companies seek to manage and mitigate risks associated with their operations.
Generally, OI specialists in Gauteng can expect salaries that vary widely depending on factors such as level of experience, company size, and industry sector. While broad salary ranges cannot be provided due to the variable nature of these factors, it is common for experienced OI professionals to earn between R600 000 and R1 200 000 per annum, while entry-level roles may start at around R300 000 to R500 000 per annum. However, salaries can fluctuate depending on individual circumstances.
Common skills required for OI roles in Gauteng include expertise in financial management, risk analysis, data interpretation, communication, and project management. Other essential skills often include proficiency in insurance software, analytical thinking, problem-solving, and the ability to work under pressure. Many OI professionals also hold relevant certifications or degrees in fields such as actuarial science, business administration, or economics.
The financial services sector is a significant employer of OI professionals in Gauteng, with other industries such as technology and manufacturing also commonly hiring for these roles. Other sectors that may employ OI specialists include healthcare, construction, and logistics. In terms of career development, many OI professionals in Gauteng progress to senior roles within their current organisations or move into related fields such as risk management, auditing, or claims handling.
For those seeking a career in OI, it is essential to develop a broad range of skills and experience, often through formal education and training. Many OI professionals in Gauteng have pursued certifications such as the Fellow of the Institute of Actuaries (FIA) or the Chartered Insurance Practitioner (CIP). Building strong relationships with clients, colleagues, and stakeholders is also crucial for success in this field.
This information provides general career guidance. Actual salaries and requirements vary by employer.
GO APPLY NOW
Safe & secure application process
Explore More Opportunities
Get Similar Job Alerts
Job Seeker Tip
Keep your LinkedIn profile up-to-date and professional - many recruiters use it to find candidates.
How to Apply
Click “GO APPLY NOW” to visit the company’s application page.
Follow their instructions carefully.
JVR Jobs connects you with employers – we don’t process applications directly.
Latest Job Opportunities
Hermanus: Executive PA
This is a hybrid role (about 80% work-from-home ) with weekly in-person meetings in Hermanus , so candidates must be…
View JobJohannesburg: CNC Machine Operator
The Company: Our trusted client locally manufactures reliable concrete brick and block making machinery. They consistently supply heavy industrial equipment...
View JobSouth Africa: Case Assistant
Minimum requirements: Matric or equivalent qualification Tertiary qualification in Medical, Life Sciences, or a related discipline is essential 1 years...
View JobMidrand: Junior Legal Advisor and Contract Manager
Key Responsibilities Legal and Commercial Support Provide day-to-day legal and administrative support to the Chief Legal and Commercial Officer. Assist…
View JobJohannesburg: Salesforce Administrator posted by MSP Staffing LTD
Seeking a Salesforce Administrator responsible for supporting Salesforce and Riskonnect products, providing technical support, and ensuring smooth...
View JobHillcrest: AFS Compiler – Hillcrest
The role involves compiling accurate financial statements from accounting records, ensuring compliance with relevant accounting standards, and liaising with...
View Job
Browse Employers
Job Alerts