Actuarial Analyst - Agri

In brief

**Overview** This is a career opportunity for an Actuarial Analyst, specializing in Parametric Insurance, within Santam Specialist Business. The role is based in Alice Lane and reports to the Business Head: ROA and Parametric Crop Insurance. The Agri Crop division focuses on crop insurance solutions, providing essential services to clients, brokers, and stakeholders in the agricultural sector. The primary purpose of this role is to provide actuarial expertise to support the design, pricing, monitoring, reporting, and sustainability of parametric insurance products across the business. **What you will do** * **Product Design and Development:** Support product innovation by developing parametric insurance solutions that meet market and business needs. This includes analyzing weather, satellite, and environmental data for pricing, developing and maintaining pricing methodologies, product assumptions, rating structures, and benefit designs, and supporting automated claims assessment and payout calculations. You will also collaborate with various teams (Underwriting, Distribution, Claims, Risk, Operations) to implement solutions. * **Pricing and Profitability Management:** Develop, maintain, and enhance actuarial pricing models, conducting reviews and analyses to ensure premiums reflect underlying risks, claims experience, expenses, capital requirements, and business objectives. This involves monitoring product and portfolio performance through profitability and trend analysis, identifying emerging risks, recommending pricing actions, supporting management decision-making via scenario testing, and establishing pricing governance frameworks. * **Reinsurance Adequacy and Optimisation:** Support the design, evaluation, and optimization of reinsurance structures to protect against earnings volatility and catastrophic losses. This includes analyzing portfolio exposures, recommending retention levels and purchasing strategies, conducting treaty performance reviews, and collaborating with Reinsurance teams, brokers, and reinsurers to provide actuarial insights for negotiations. * **Data Analytics and Business Insights:** Develop dashboards, actuarial monitoring tools, and management reporting frameworks to support business decision-making. You will also support business cases, strategic projects, investment decisions through robust data and actuarial analysis, and assist with predictive modeling, segmentation analysis, and data-driven initiatives. **Requirements (from the original advert)** * Degree 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 Pricing * Climate and Weather Risk Modelling * Remote Sensing and Satellite Analytics * Portfolio Performance Monitoring and Reporting * Data Analytics and Visualization * Analytical and Critical Thinking * Problem Solving and Decision Making * Attention to Detail * Planning and Organising * Communication and Presentation Skills **Who should apply** An individual with a degree in Actuarial Science, Mathematics, or Statistics, possessing a minimum of 5 years of actuarial experience within short-term insurance, reinsurance, or a similar field. The ideal candidate will have demonstrated experience in product design and insurance pricing. Furthermore, they should possess technical competencies in climate and weather risk modeling, remote sensing and satellite analytics, portfolio performance monitoring and reporting, and data analytics and visualization. Strong analytical, critical thinking, problem-solving, decision-making, planning, organizing, communication, presentation skills, and attention to detail are also expected. **Deadline** Not specified **Reference** Original posting: https://www.myjobmag.co.za/job/actuarial-analyst-agri-santam-insurance-1 Source: myjobmag

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