Actuary

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Business Unit:

Function:
Actuarial Sciences

Date: 2 Feb 2026

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

Discovery Corporate and Employee Benefits is the first and only employee benefits provider to be shaping employee behaviour, creating healthier and wealthier work forces. It is an exciting business to be in as we reimagine the way retirement savings and life insurance is brought to companies and employees.

A specialised multi-disciplinary team that focus only on retaining our existing clients. This team works across the business touching most departments within the business and works externally with brokers and clients.

The creation, implementation and execution of the renewal strategy for our Group Risk schemes and execution of renewal strategy for our Umbrella Fund. Improving our processes and understanding market behaviour to support the business to maintain as many of our existing clients as possible.

• Create a renewal strategy that is in keeping with maintaining our existing Group Risk portfolio lapse rate while maximizing premiums.
• Support the implementation of this renewal strategy using updated tools, making sure the tools give the correct outcomes and consistent outcomes across various parts of the renewal process. From claims experience given to market, claims analysis completed and presentations produced.
• Execute the renewal strategy through the existing pre-renewal processes to release renewals 90 days before the renewal date of the scheme’s anniversary.
• Improvement of the pre-renewal process to make the process as smooth as possible.
• Commercial decision making on requests for rate reductions on existing business, taking into account the composite objectives of maximizing premium while minimizing lapses, and understanding the broker and market forces impacting each decision.
• Track market feedback and renewals rates that are implemented given competitors positioning in the market.
• Building sufficient tools to monitor the competitor landscape for use in the strategy for renewals as well as new business
• Supporting large renewal increases with detailed pricing and with supportive presentations to be delivered by the renewals actuary, or the Head of product, Pricing and data integrity or the Chief Commercial Officer.
• Building relationships with service consultants, brokers and clients.
• Execute renewal strategy from the Umbrella Funds team for existing Umbrella fund clients.
• Producing lapse analysis for the various committees on a quarterly basis and presenting in the various forums.
• Do 6 monthly analysis on the renewals completed and the extra income this created for the business and reporting on the progress to CEB Exco.
• Comprehensive lapse analysis including competitor rates, to understand whether we need to change New Business strategy or renewal strategy and present this to CEB Exco.
• Management Information on team’s performance.
• Actively reducing the number of queries coming into the team with monthly feedback to the internal teams, changing processes and education.
• Knowledge of all the risk factors such as occupation and industry, admin and profit factors and their interdependency.
• Knowledge of pricing components of the Umbrella business
• Preparation and distribution of quote documents for Risk and or Umbrella.
• Illustration of the value proposition of Discovery’s benefit enhancements.

Role Specific…