Actuarial Manager- Product Development & Pricing at Botswana Life Insurance Ltd

The role of the Actuarial Manager - Product Development is to support the Actuary in efficiently and effectively planning, controlling and executing all new product launches within the company. This will be conducted within established departmental and product development budgets and in terms of agreed strategy in order to consistently improve earnings of the company as well as to develop new business prospects and to develop future human capital capability.

Some of the Key Performance Areas:

•                                                                                                                                         Manages the product development activities of the Actuarial Services unit within agreed strategic plans and budgets as approved by the Group Actuary.
• Provides input into the strategic planning process.
• Review profitability of existing products on annual basis
• Redesign and/or reprice existing products in agreement with the sales department
• Produce product specifications for all new products in conjunction with the sales department
• Provide pricing for all new products
• Create valuation process, including but not limited to Prophet codes, for all new products
• Create policy wording and underwriting guidelines for new products in line with the product      specifications
• Liaise with Actuarial Manager (Risk Management) to determine the level of reinsurance required      for new products
• Arrange reinsurance for new products as required
• Work with the Marketing department to produce the advertising material for new products
• Liaise with Learning and Development function to develop training plan for all staff and sales      force
• Implement projects as required by management.
• Prepare product development budgets for the unit

Desired Skills and Experience

Bachelor’s Degree in a numerate degree such as Actuarial Studies, Economics, and Statistics.

Associate of the Institute and Faculty of Actuaries or equivalent qualification

The background experience must include at least minimum of three years experience in a corporate actuarial environment, plus familiarity with ASSA APN’s. Must have thorough knowledge of Prophet and must have product development experience.

The company offers an attractive remuneration package with benefits in keeping with a large financial organization.

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