Job Description

What will you do?

As a Junior Actuarial Analyst, you’ll work on live pricing models, claims data, and business performance tracking that influence millions in premium and claims decisions. This is a permanent opportunity based in Alice Lane, Sandton, Gauteng, with a hybrid work model available.

You'll join a high-performing actuarial and analytics team within South Africa’s leading general insurer – and help shape the way insurance works.

What will make you successful in this role?

You’ll rotate through or contribute to some of the following core areas:

Model Development

• Assist in sourcing, validating, and preparing core pricing inputs such as exposure and claims data.
• Support the development and improvement of pricing models using advanced actuarial/statistical techniques, leveraging tools like Python, R, and SQL.
• Contribute to the implementation of pricing initiatives that align with business objectives balancing profitability, competitiveness, and risk appetite.

Business Strategy and Product Insight

• Contribute to market fit analysis and product cross-subsidisation investigations.
• Support ad hoc business and analytics projects that guide executive strategy.
• Input into product development and business processes where required.

Portfolio and Performance Analytics

• Build dashboards and MI to track key performance metrics, including profitability, loss ratios, conversion, retention, cancellations, inflation, price adequacy, and model performance.
• Analyse actual vs expected performance of models which have been implemented, ensuring pricing models are regularly updated through ongoing refinements and comparison to objectives.
• Monitor and validate renewal performance and price change implementation.

What do you need

• A bachelor’s degree in Actuarial Science, Statistics, or a related quantitative field.
• Exposure to data analysis tools like Python, R, SQL, or Excel.
• Eagerness to learn and grow in a fast-paced, performance-driven environment.
• Strong analytical and problem-solving ability with meticulous attention to detail.
• Skilled in recognising statistical patterns and applying critical thinking to turn raw data into predictive insight and strategic advantage.
• Passion for data and curiosity about how insurance products, risks, and customer behaviour work.
• A creative mindset with a drive to challenge the status quo and explore new solutions.
• Ability to connect your work to broader business goals, strategy, and customer outcomes.
• Confident communicator who can distil technical ideas into actionable insights for a range of audiences

What will you gain

• Exposure to multiple business areas (pricing, claims, underwriting, analytics).
• Mentorship from experienced actuaries and data scientists.
• Clear development path towards technical specialist, pricing actuary, or analytics strategist.
• Hands-on experience with live models and real impact work.
• Study support (if applicable) and career development resources.

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth.
Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

WHO ARE YOU?

Santam is Africa’s leading general insurance company with a market share exceeding 24% in South Africa, representing R41.3bn in GWP in 2024. With over 106 years of experience and the data depth to match we offer a great opportunity to transform complex information into powerful insights that shape products, pricing, and the future of insurance throughout the industry.

We’ve been named Top Employer for four consecutive years, recognised for our progressive people practices and unwavering commitment to helping our employees thrive, grow, and perform with purpose.

We’re looking for smart, curious minds who want to dig deep into data, ask bold questions, and build strategies that drive real meaningful change in the business.