Head: Pricing at Santam Insurance

What will you do?

• To provide technical pricing leadership to the development, management and execution of a comprehensive pricing strategy for Santam Client Solutions (SCS) business. This role involves identifying market opportunities through competitor and market analysis and producing business intelligence on underwriting performance. The role ensures the sustained profitable growth of the division through the implementation of risk-based pricing models across all products and distribution mechanisms. The role includes the following key areas of accountability:
• Development, maintenance and implementation of risk-based pricing models across all products and distribution mechanisms within SCS
• Develop and grow a world class pricing team in support of the SCS strategic objective to grow in its target markets
• Ensure SCS pricing governance and controls are in place to safeguard the premium adequacy of the portfolio

Key accountabilities and responsibilities include:

• Develop and execute pricing strategies aligned with business objectives to ensure profitability for SCS while remaining competitive in the market
• Build, maintain and implement scientific risk pricing models, ensuring pricing models are regularly updated through ongoing refinements and testing
• Build pricing adequacy reporting framework
• Apply advanced actuarial/statistical techniques using modern technology tools in analysing data and implementing pricing initiatives.
• Technical pricing innovation and improvement on existing models to achieve short-term and long-term business targets
• Contribute to the governance of the actuarial pricing functions across the Santam group to ensure consistent practices are applied across the group
• Input into product development and business processes where required
• Monitor market conditions and identify opportunities through competitor and market analysis
• Build, lead and mentor the pricing team, ensuring personal and professional development of the team and fostering a culture of excellence and continuous improvement

What do you need?

• Bachelor’s degree in actuarial science, statistics or similar qualification
• Fully or nearly qualified actuary or similar 
• Proven track record of at least 8 years’ experience within short term insurance pricing environment.
• At least 4 years’ management of a pricing function. 
• Good knowledge of Commercial and Personal products is essential.

Skills

• Technical pricing skills
• Management of a pricing function
• Skilled in leading and coaching staff to keep pricing talents engaged and productive
• Excellent English communication & report-writing and presentation skills
• Establish interpersonal relationship, negotiating and networking skills
• Ability to influence
• Ability to work under pressure with appropriate prioritisation skills
• Results-orientated and deadline driven
• Analytical skills and problem-solving abilities
• Creativity and ability to innovate and find new solutions to new challenges
• Able to organise own and others’ workloads to achieve priorities and objectives
• Demonstrate capability to think of the organisation holistically
• Empowering others