Actuarial Associate

Turaco is an insurance company that focuses on micro-insurance, leveraging data and automation to manage underwriting, risk analysis, pricing, and compliance.

The Actuarial Associate at Turaco will be based in Nairobi, reporting to the Head of Insurance Operations and collaborating closely with the Chief Operations Officer. The core focus of this position is to manage the technical elements of insurance underwriting, encompassing risk assessment, reserving, pricing models, and regulatory compliance. A significant part of the role involves data analytics and process automation, transforming policy and claims data into actionable insights and automating current manual actuarial, pricing, and reporting workflows.

1. Collaborate with the insurance operations and commercial teams to develop and review micro-underwriting and micro-insurance policies.
2. Work with the technology team to establish underwriting infrastructure and necessary data structures for regulatory reporting.
3. Design underwriting journeys for Turaco's flagship and new micro-insurance products.
4. Take ownership of product pricing for micro-underwriting, including building baseline pricing models and guidelines.
5. Facilitate pricing communication within the Insurance Operations team and across the organization.
6. Participate in product ideation sessions with commercial teams and partners to integrate product concepts into pricing decisions.
7. Conduct experience studies and analyze claims, loss ratio, lapse, and retention trends across products and partners to inform pricing, product design, and partner strategies.
8. Develop and maintain analytical models and dashboards to convert policy and claims data into clear, actionable insights for management and partners.
9. Identify risk areas within underwriting and other insurance operations, and formulate mitigation strategies.
10. Ensure compliance with regulatory requirements, assessing non-compliance from product development to launch and implementing corrective actions.
11. Introduce regulatory reporting templates to insurance operations and ensure timely reporting.
12. Monitor and analyze the performance of insurance products using internal CRM data, creating dashboards and reports for management insights.
13. Build and track all requisite metrics addressing underwriting risks, utilizing existing performance indicators for the Insurance Operations team.
14. Automate regulatory and management reporting by building repeatable data pipelines and scripts (e.g., Python, R, or SQL) to reduce manual effort and turnaround times.
15. Automate pricing, reserving, and claims analysis workflows to enable quick and reliable model refreshes with new data.
16. Work closely with Marketing and Customer Experience to understand and address customer pain points related to Turaco products.
17. Act as the technology integrator for the Insurance Operations team, continuously reviewing features, recommending updates, and collaborating with the Tech team on new feature development.
18. Lead process automation and optimization across policy administration, claims handling, underwriting, and actuarial work, replacing manual processes with scalable, automated workflows.
19. Provide continuous learning and training to the insurance operations team, particularly on underwriting and pricing aspects.

1. Demonstrate Turaco’s core values: care for customers, integrity, humility, and enjoyment in work.
2. Possess an advanced degree in Actuarial Science, Insurance, or a related field, with professional actuarial or risk papers being desirable.
3. Have at least 2 years of professional experience in actuarial work or analytics, preferably within the insurance industry.
4. An understanding of insurance policy administration, claims handling, and insurance risk analysis is an advantage.
5. Exhibit advanced data analysis skills, with practical experience in Python, R, or SQL, and data visualization tools such as Power BI, Tableau, or Looker, for generating and interpreting key insurance metrics.
6. Have experience automating data pipelines, models, or reports, with a proven track record of replacing manual processes with scalable tools.
7. Possess excellent interpersonal and communication skills, both oral and written.
8. Demonstrate a high sense of empathy in insurance-related interactions.
9. Be capable of working autonomously, taking initiative, and solving problems with a solution-oriented approach.
10. Be willing to collaborate as a team member with individuals from diverse backgrounds, geographies, and cultures, both within and outside Turaco’s organization.