Jubilee Insurance Actuarial Analyst (Pricing) Jobs in Kenya
Job Ref. No: JHIL112
Role Purpose
The job holder will play a crucial role in pricing of risks associated with existing and new products. Leveraging technology, they will automate the pricing procedures, thereby enhancing operational efficiency and ultimately improving service delivery. They will work closely with other departments such as data analytics, products & strategy, marketing, business development and finance in achieving the overall strategy of the business.
Main Responsibilities
Pricing, Innovation
Analyze historical data, market trends and other considerable factors to determine appropriate rating factors and premiums to be charged on various policies and products.
Evaluate the financial impact of various health insurance products by analyzing data related to claims, policyholders, and healthcare trends.
Investigate and provide insights on key drivers affecting pricing of health and care products.
Analyze existing internal pricing models and provide suggestions on how they can be improved.
Actuarial Modelling and Data:
Develop and maintain actuarial models used in premium rating.
Analyze actuarial data including policy holder information, claims data, financial data to ensure data integrity and accuracy in actuarial models & calculations.
Perform sensitivity analysis and scenario testing to assess the implication of pricing on the business performance.
Use statistical and mathematical techniques to forecast trends in healthcare costs, morbidity incidence rates and benefit utilization rates.
Stakeholder Collaboration and Communication:
Work closely with internal and external stakeholders.
Communicate complex actuarial concepts to all stakeholders using simple terms.
System Calibration and IFRS 17
Develop premium rating models, considering IFRS 17 reporting requirements in the premium rating. II. Ensure premium rating is calibrated correctly in the system and perform UATs.
Key Competencies
Core Actuarial Principles
Data Analysis
Actuarial Modelling and forecasting
Critical thinking, Decision Making
Business Acumen and commercial awareness
Stakeholder Management
Qualifications
Bachelor’s degree in an Actuarial Science or a related field
A minimum of four professional actuarial qualifications, each requiring successful completion of at least four rigorous examination papers.
Relevant Experience
Minimum of 4 years of relevant working experience.
How to Apply
If you are qualified and seeking an exciting new challenge, please apply via [email protected] quoting the Job Reference Number and Position
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