Non-Life Actuarial Specialist

About the role

A leading South African insurance organisation, represented by Rand Mutual Assurance, is looking for an experienced Non-Life Actuarial Specialist to support its product development and commercial insurance activities. The role suits a technically strong, commercially minded actuary with experience across the full non-life product lifecycle, from product development and pricing through to reinsurance, distribution support, operational implementation and ongoing product management. The position is based in Johannesburg on a hybrid basis.

Key responsibilities

• Lead and support the end-to-end development of non-life insurance products, from concept through implementation and ongoing management.
• Develop, review and refine actuarial pricing models and methodologies.
• Conduct pricing analyses to support product profitability, competitiveness and commercial sustainability.
• Evaluate reinsurance requirements and support the development of appropriate reinsurance structures.
• Provide actuarial and commercial input into product design, business cases and strategic decisions.
• Collaborate with distribution teams on product positioning, pricing and market requirements.
• Support the operational implementation of new and existing products and monitor their performance, recommending adjustments.
• Work with underwriting, finance, operations and other stakeholders, and provide independent analysis to senior management.

Required profile

• Strong actuarial experience in the non-life insurance industry, with demonstrated product development and pricing experience.
• Understanding of reinsurance and its use in product design and profitability.
• Experience across the insurance product lifecycle and working with distribution, underwriting, finance and operations teams.
• Relevant actuarial qualification or progress towards professional actuarial accreditation.
• Desirable: experience in both non-life and health insurance, multiple product development, regulated South African environment, and leading projects or mentoring juniors.

Required skills

• Actuarial analysis and financial modelling
• Pricing and profitability analysis
• Underwriting and risk assessment
• Strong analytical, modelling and problem-solving capabilities