Actuarial Executive at Kenya Orient Life Assurance Limited

On Monday, February 2nd, 2015
Recently established as a sister Company to Kenya Orient Insurance Ltd, Kenya Orient Life Assurance Limited was licensed in July 2014 to transact life insurance business in Kenya. 
With an ambitious growth and innovation strategy, cutting edge products and a
driven and committed management team, Kenya Orient Life Assurance is set to change the course of life insurance business in Kenya and indeed tap
into the ever increasing and yet virtually untouched insurance market.

We are looking for talented and motivated people in a variety of roles.
You will have an opportunity to join a team who are warm, professional and experts in their fields. As a successful candidate, you will work in a fun, highly innovative and engaging environment.

Division / Department: Underwriting

Immediate Supervisor: Underwriting Manager

Overall Responsibility: To provide actuarial analysis, ensuring the company is always aware of its liability position, product performance and provide expertise in product development and pricing.
 

Key Tasks, Duties and Responsibilities
  • Preparation of valuation data and advice on their emerging risks and implications
  • Assist in the performance of statutory and non-statutory actuarial valuation of the life business
  • Determine the level of profitability and performance of new and existing products
  • Product development and pricing of life insurance products
  • Statistical analysis of the life business, pension and medical business
  • Assist in the forecast of actuarial liabilities of the life business
  • Obtain market intelligence by researching and identifying new products and new business areas and ideas
  • Analysis of industry statistics
  • Monitor per policy expense ratios and perform expense analyses
  • Monitor the level of profitability and performance of new and existing products
  • Monitor mortality experience to determine sufficiency of premiums
  • Liaising with the external actuary on all actuarial aspects and compliance to the insurance act
  • Work closely with the underwriting department to determine the adequacy of premium rates
  • On-going Data clean up and system audit to ensure optimal business performance
  • Calculation of all insurance contract reserves
  • Ensuring compliance to IRA regulation
  • Analysis of industry statistics and monitoring of key metrics including those supporting credit ratings
Requirements
  • A Bachelors of Science (Actuarial Studies)
  • At least 3 professional actuarial papers completed
  • 2 years relevant working experience
Competencies
  • Basic underwriting and pricing knowledge
  • Excellent analytical, communication and customer handling skills
How to Apply

If you are interested in a position and have the required qualifications, skills and experience, CLICK HERE to Apply and submit a duly filled application form on or before Friday, February 13th 2014.

Only shortlisted candidates will be contacted.

Kenya Orient Life Assurance Ltd is an Equal Opportunity Employer

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