š OPPORTUNITY OVERVIEWSantam Insurance is actively recruiting for a Actuarial Analyst - Agri position in Gauteng. This is an excellent opportunity for professionals in the Insurance sector looking to advance their careers.
šÆ IDEAL CANDIDATE PROFILEWe are seeking talented individuals with the following profileā¢ Experience Level: 5 years ā¢ Educational Background: Bachelor or equivalent ā¢ Industry Focus: Insurance ā¢ Location Preference: in Gauteng
š¼ WHY THIS ROLE MATTERSThe Actuarial Analyst - Agri position is an important role within the Insurance sector, offering meaningful career development and professional growth opportunities.
š CAREER DEVELOPMENT INSIGHTSThis role in Insurance offers valuable career progression opportunities aligned with your experience level and professional aspirations.
š APPLICATION GUIDANCEWhen applying for this Actuarial Analyst - Agri position, ensure your CV highlights: ā¢ Relevant experience matching the 5 years requirement ā¢ Educational qualifications in line with Bachelor ā¢ Specific achievements in the Insurance field ā¢ Any certifications or specialized training
š SOUTH AFRICA JOB MARKET CONTEXTThe Insurance sector in South Africa continues to show strong demand for skilled professionals. This position represents a valuable opportunity in the current job market.
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CAREER OPPORTUNITYSantam Specialist BusinessĀ has a career opportunity for anĀ Actuarial AnalystĀ ā Parametric Insurance, based in Alice Lane and reporting to the Business Head: ROA and Parametric Crop Insurance.Ā TheĀ Agri CropĀ specializes in crop insurance solutions and plays a critical role in delivering exceptional service to clients, brokers, and stakeholders across the agricultural industry.
JOB PURPOSEProvide actuarial expertise to support the design, pricing, monitoring, reporting and sustainability of parametric insurance products across the business.Ā
KEY RESPONSIBILITIESProduct Design and Development
Support the execution of product innovation strategies through the development of parametric insurance solutions that meet customer, market, and business needs. Analyse weather, satellite, and environmental datasets to support product pricing. Develop and maintain pricing methodologies, product assumptions, rating structures, and benefit designs across product lines. Support automated claims assessment and payout calculations across product lines. Collaborate with Underwriting, Distribution, Claims, Risk, and Operations teams to implement market-leading and sustainable parametric insurance solutions
Pricing and Profitability Management
Develop, maintain, and enhance actuarial pricing models using appropriate statistical and actuarial methodologies. Conduct pricing reviews and analyses to ensure premiums adequately reflect underlying risks, claims experience, expenses, capital requirements, and business objectives. Monitor product and portfolio performance through profitability analysis, loss ratio monitoring, trend analysis, and experience investigations. Identify emerging risks and recommend pricing actions to improve portfolio performance and profitability. Support management decision-making through scenario testing, sensitivity analysis, and financial impact assessments. Establish and monitor pricing governance frameworks, assumptions, and model controls to ensure consistency and accuracy.
Reinsurance Adequacy and Optimisation
Support the design, evaluation, and optimization of reinsurance structures to protect the business against earnings volatility and catastrophic losses. Analyse portfolio exposures and accumulation risks to recommend appropriate retention levels and reinsurance purchasing strategies. Conduct treaty performance reviews and evaluate the financial effectiveness of reinsurance programmes. Collaborate with Reinsurance teams, brokers, and reinsurers to provide actuarial insights that support negotiations and programme renewals.
Data Analytics and Business Insights
Develop dashboards, actuarial monitoring tools, and management reporting frameworks to support business decision-making. Support business cases, strategic projects, and investment decisions through robust data and actuarial analysis. Support predictive modelling, segmentation analysis, and data-driven business initiatives.
QUALIFICATIONS AND EXPERIENCEDegree in Actuarial Science, Mathematics, or Statistics 5 years of actuarial experience within short-term insurance or reinsurance, or a related environment. Experience in product design and Insurance PricingĀ
TECHNICAL COMPETENCIESClimate and Weather Risk Modelling Remote Sensing and Satellite Analytics Portfolio Performance Monitoring and Reporting Data Analytics and Visualization
OTHER COMPETENCIESAnalytical and Critical Thinking Problem Solving and Decision Making Attention to Detail Planning and Organising Communication and Presentation Skills
How To Apply
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Attach your Application letter, updated Curriculum Vitae (CV) and any supporting documents required.
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Use a professional subject line such as Application for "Indicate Position"
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Send your application before the closing date.
Note: Only shortlisted candidates are contacted.
