Key Tasks, Duties and Responsibilities
Revenue.
Participate in product development with regards to using data to develop more personalized products.
Carry market intelligence surveys and analysis of industry statistics to determine product relevance in the market.
Participate in strategy formulation by using data to identify and interpret trends.
Management Expense & Cost Efficiency.
Conduct expense analysis to identify leakages in the processes.
Assist in ensuring costs within the department are managed in order to achieve desired profitability and set management expense ratios.
Analyse claims to allow for studying of underwriting risks for the various business channels.
Loss Ratio.
Analyse claims data to advise for risk pricing per channel effectively reducing claims cost.
Participate in investigations seeking better adequacy in claims reserving.
Participate in reinsurance optimization exercises to ensure that the company does not have net outflows.
Analyse claims emergence and payment patterns for the various lines to advice on the efficiency of the claims payment process.
Experience Review and Monitoring (Actuarial Control Cycle)
Perform claims, lapse and expense analysis to come up with assumptions to be used to advice pricing, loss reserving and projection of the balance sheet liabilities.
Continuous feedback of results into the actuarial control cycle to identify assumptions that need updating.
Assist in the review of claims and underwriting policies to ensure continued validity of actuarial assumptions.
Internal Controls and Reporting.
Assist in ensuring compliance with changing standards affecting actuarial work e.g. IFRS 17.
Prepare IRA and AKI reports for submission when necessary including technical liabilities reports and solvency reports.
Interpret/explain business requirements and coordinate with developers for new requirements/issue resolutions/change requests.
Assist in preparation of reports for new products for IRA submission before launch.
Requirements
Bachelor’s degree in Actuarial Science, Statistics, Engineering, Mathematics or equivalent from a recognized university.
Pass in atleast three actuarial professional papers.
3 years relevant experience in Actuarial and Data Analytics.
Apply via :
docs.google.com
