Wellness Actuary - Momentum Metropolitan Holdings

Momentum Health Solutions, an entity of Momentum Metropolitan Holdings delivers sustainable, integrated health solutions that meet the needs of clients in different segments and maximise lifetime client value. We build and maintain a culture of innovation, and create value through unique insights into how to achieve specific outcomes by using a defined set of Health capabilities.

Role Purpose

Responsible for leading the pricing and actuarial function. The role includes pricing and actuarial monitoring of all Multiply products/solutions and partners and demonstrating the impact of Multiply on client behaviour, health claims and scheme/health insurance profitability.

Duties & Responsibilities

• Perform Membership projections across the following:

• • Membership numbers
  • Sales
  • Lapses
  • Multiply status/rewards level distribution

• Regular pricing of existing and new Multiply partners.

• Setting the annual budget for the Multiply programmes.

• Analysis of variance/surplus in the Multiply benefit and partner usage and status distribution.

• Technical assistance from a pricing and value management perspective for the wellness solutions businesses.

• Define, monitor and report value metrics.

• Define and monitor lead indicators of value emergence.

• Demonstrating the impact of Multiply on client behaviour, health claims and scheme / health insurance profitability.

• Input into the product development process.

• Form a detailed understanding of the attributes of a Multiply client including, but not limited to:

• • Life expectancy
  • Persistency
  • Buying Behaviour
  • Health behaviour

• Building a thorough understanding of the competitor landscape that includes both product features as well as any business or profitability insights.
• Keep abreast of any legal or regulatory developments that may affect our business.

• Analyse various sources of information and translate findings into insights that answer specific business questions.

• Compile and present actuarial reports for various stakeholders to highlight insights and inform decision-making.

• Review and compare competitor strategies, to inform product and pricing strategies.

• Design and develop products and solutions that answer specific business questions and capitalises on opportunities identified.

• Review and develop solutions through the application of actuarial techniques and modelling.

• Develop methods and strategies to implement and monitor actuarial-related risks within specific business processes or products.

• Provide specialised actuarial assistance (technical oversight and support) within the actuarial team and other business areas, to support business delivery.

Requirements

• Postgraduate qualification in Actuarial Science, Statistical Analysis or Mathematics
• Actuarial student (Essential)
• Fellow of the Actuarial Society of South Africa (preferred)
• 6 years experience in product development/pricing within an insurance or financial services environment
• Exposure to Rewards Programs and behavioural science (preferred)
• Proven track record of leading a team of professionals (preferred)

Competencies

• Business Acumen
• Client Commitment
• Drive for Results
• Leads Change and Innovation
• Collaboration
• Impact and Influence
• Self-Awareness and Insight
• Diversity and Inclusiveness