Actuarial Manger in the Actuarial Risk Specialist Team
Discovery
Total years of experience :13 years, 4 Months
Actuarial Risk Specialist and Technical Marketing
This position allows me to play a critical role within the Discovery Life business by working closely with the various distribution channels through which we market our products. I am responsible for strategic thinking around product launches and to provide crucial input to the broader product development team.
My day to day role requires me to provide product, market and strategic insights to our distribution channel to increase new business and unlock new support in the IFA space whilst constantly feeding back market insights into the R&D department.
I am required to provide compelling positioning and ensure an effective roll-out of launches, roadshows and campaigns to our financial advisers and franchises.
I am required to analyse big data to identify opportunities within franchises and within the product space, and to become a Discovery Life and market expert for large client meetings and targeted client presentations.
This role has allowed me to work closely with all areas of the Life business to ensure the smooth functioning of our distribution force.
Business Development in a Life Insurance and Wellness Solutions role
• Extend relationships with existing clients to result in new business opportunities;
• Oversee and initiate discussions with potential new clients;
• Prepare and conduct presentations both internally and to clients;
• Develop products (from product specifications to the pricing) and introduce the use of technological developments to enhance any existing or new product offerings;
• Drive the need for digitisation within a life insurance space;
• Liaise with the Pricing and Medical units to ensure that all pricing for new business and products meets the industry requirements;
• To keep abreast of industry developments both locally and internationally and to extend the teams’ local knowledge and expertise to grow the business internationally;
• Liaise with the Legal department with regards to due diligence and other legal aspects surrounding business opportunities and in so doing draft all necessary legal documentation (treaties, tenders, addenda, non-disclosure agreements and memorandums to list a few).
I was part of a team at Hannover Re (global) working within a strategic partnership between Hannover Re and Discovery Vitality in the global rollout of Vitality Active Rewards.
I was chosen to champion the marketing within the South African Insurance market of Qinematic - a dynamic posture scanning device currently used in elite sport - alongside the founding CEO, Glenn Bilby.
Consulting and valuations for pension schemes and retirement benefits. Responsibilities included:
• IAS19 and FAS58 pensions valuations;
• Long service awards, gratuity and severance benefit valuations;
• Valuations on the liability of share options held by employees including forfeitures and new issues;
• Road accident fund calculations.
Actuarial Health consulting with the following responsibilities:
• Post-Retirement Medical Aid Valuations;
• Submissions to the Council for Medical Schemes;
• Incurred But Not Reported (IBNR) claims calculations;
• Benefit review analyses for medical aid schemes;
• Benchmarking of medical aid schemes’ benefits and rules against each other;
• Research and development around wellness solutions for group medical aid schemes;
• Health Quality Assessment reporting for the South African market;
• Pricing, forecasting and budgeting for medical aid schemes;
• Implementing enhancements to medical aid benefits following pricing analyses;
• Actuarial reporting on risk and solvency of schemes.
Actuarial Exams: • CT1 • CT2 • CT3 • CT4 • CT5 • CT6 • CT7 • CT8 • CT9 • CA2 • CA3 • F210
Level 8.5 achieved on the test score
• Actuarial Science I, II, III • Mathematics (Major) I,II • Mathematical Techniques III • Mathematical Statistics I,II • Computational and Applied Mathematics I • Economics I • Business Accounting I