Purpose of the Role:

At Dis-Chem Life, we are driven by a bold mission: to create groundbreaking products, technology, and solutions that WOW our customers and push South Africa forward. This role positions you at the forefront of this transformation, shaping the future of insurance and driving innovation that has never been seen before. 

You will leverage advanced actuarial models, predictive analytics, and data-driven insights to create solutions that push the boundaries of affordability, sustainability, and accessibility. 

As an Actuarial Analyst, you are driven by solving complex problems and creating meaningful change. Within this role you will do just that, collaborating with the country’s top actuaries to craft innovative products that disrupt the insurance industry.  

You won’t just be part of the future of insurance - you will create it. Your work will directly impact our mission, shaping an industry and defining legacy while making a lasting difference in the lives of our customers. 

Role Summary

As the Actuarial Analyst at Dis-Chem Life, you will work across actuarial, data, underwriting, and operations teams to design, enhance, and optimise our policy administration, underwriting systems and deliver key analytics and insights to the broader business.

The Actuarial Analyst will translate product, pricing, and risk requirements into robust system logic, decision trees, and operational rules that support scalable growth and quality business. This includes refining underwriting and improving policy servicing processes and embedding actuarial guardrails within sales and administration journeys, providing support in pricing and product changes through analytics, ensuring system configurations align with approved assumptions, and proactively identify operational persistency, and risk leakage issues.

The Actuarial Analyst role will be central to strengthening controls, improving automation, and ensuring our products remain commercially sound, operationally efficient, and aligned to Dis-Chem Life’s growth strategy.

Benefits:

• Competitive Salary 
• Ability to work on groundbreaking projects with some of the largest data sets in the country, with leading pioneers in AI and data-driven insurance techniques  
• Flexible working hours with remote or hybrid work options
• Opportunities for personal growth and professional development, including access to cutting-edge technologies  
• A collaborative and inclusive environment that values your contribution and provides space for personal growth
• The chance to work on high-impact projects that shape the future of insurance in South Africa
• Financial backing to complete relevant actuarial exams, professional certifications, and associated fees to support your career development and progression
• Generous Study Leave, if required
• Visionary Leadership

Key Responsibilities:

System and Process Development

• Provide actuarial input into the design and enhancement of policy administration, underwriting, and servicing systems
• Develop and refine underwriting decision trees, including automated acceptance, loading, and referral rules
• Optimise end-to-end policy lifecycle processes
• Perform actuarial validation of system, product, and rule changes prior to deployment

Experience Analysis and Investigations

• Perform regular experience investigations on:
• Lapse and surrender experience
• Mortality and morbidity claims
• Disability incidence and termination rates
• Staff movement (joiners/leavers for group schemes)
• Calculate Actual vs Expected (A/E) ratios and investigate drivers of deviations
• Segment experience by relevant risk factors (age, duration, product, industry, salary band, distribution channel, etc.)
• Identify emerging trends and early warning indicators

Data Management and Validation

• Extract, clean, and reconcile data from policy admin and claims systems
• Perform data quality checks and investigate anomalies
• Maintain structured experience investigation datasets
• Automate recurring data preparation processes where possible

Actuarial Analysis and Reporting: 

• Conduct actuarial analysis across Dis-Chem Life products and Dis-Chem Better Rewards
• Produce commercially focused reporting for senior management, highlighting trends, risks, and recommended actions
• Maintain transparent documentation of assumptions and models.

Process Improvement and Automation

• Identify manual or repetitive actuarial processes, propose and execute on automated solutions
• Develop automated workflows using Excel VBA, SQL, R, Python or other languages
• Improve data extraction, cleaning, and reconciliation processes
• Standardise and document repeatable processes
• Reduce turnaround times for investigations and reporting

Cross-Functional Collaboration

• Engage with underwriting, claims, finance, operations, and product teams to help improve their processes
• Assist in implementing product or assumption changes within systems
• Support audits and regulatory reviews

 Technical Skills:

• Proficiency in any of the following coding languages (VBA, Excel, R, Python, SQL, C#, HTML)
• Familiarity with data visualization software (Power BI, Tableau, Superset) - advantageous
• Ability to build financial models and produce reports to guide decision-making and ensure regulatory compliance
• Experience handling large datasets, performing statistical analysis, and generating insights to inform business decisions
• Familiarity with underwriting and claims administration systems - advantageous.

Soft Skills:

• Excellent communication skills 
• The ability to explain complex actuarial and financial concepts to both technical and non-technical audiences 
• Strong analytical thinking and the ability to provide creative solutions to complex financial challenges 
• Ensuring accuracy in analysis, modelling, and reporting to prevent errors and ensure financial stability 
• Ability to work effectively with teams to achieve business objectives and ensure alignment across departments 
• Manage multiple high-priority tasks and deadlines with precision and adaptability, ensuring success under pressure in a fast-paced environment 
• Strong integrity, ensuring that all actuarial work adheres to the highest ethical standards and complies with regulatory requirements 

Experience:

• Between 1-3 years of experience in an actuarial role, with a focus on insurance or related financial services sectors
• Experience with pricing, reserving, and risk management specific to long-term insurance is highly preferred
• Nearly / Newly Qualified Actuary

Qualifications: 

• A Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, or a related field 
• Good progress towards Actuarial exams and certification (ASSA, SOA, IFoA, or equivalent) 
• Ongoing development towards actuarial certification 
• Accredited with ASSA, or equivalent professional actuarial body