Actuarial Associate

Turaco is a micro-insurtech company changing healthcare financing in emerging markets. We provide simple, affordable health and life insurance to low-income earners, distributing our products through partnerships with leading businesses in Kenya and Uganda. Our mission is to act as a safety net, freeing people from the fear of health-related financial shocks.

Actuarial Associate

About the role

• Turaco is looking for an Actuarial Associate to work at our Nairobi office in our Service Center reporting directly to the Head of Insurance Operations and working closely with our Chief Operations Officer. This individual will take on the technical aspects of our journey into insurance underwriting, specifically risk analysis, reserving, pricing projections, and compliance. The role has a strong analytics and automation focus: you will turn our policy and claims data into insights that drive decisions, and automate the actuarial, pricing and reporting processes that are manual today.

Key Roles & Responsibilities

Underwriting

• Work closely with the larger insurance operations and commercial team to develop and review micro-underwriting/micro-insurance policies.

• Working with the technology team to develop the underwriting infrastructure and the data structures needed for regulator-approved reporting

• Designing the underwriting journeys for Turaco flagship insurance products and new micro-insurance products in the pipeline.

Pricing & Analytics

• Own product pricing for micro-underwriting at Turaco, including building baseline pricing models and guidelines

• Drive the communication of pricing within the Insurance Operations team and externally to the organization.

• Participate in product ideation sessions with the commercial team and partners to understand the basics of each product and embed these ideas in pricing decisions.

• Run experience studies and analyse claims, loss ratio, lapse and retention trends across products and partners to inform pricing, product design and partner decisions.

• Build and maintain analytical models and dashboards that turn policy and claims data into clear, actionable insights for management and partners.

Risk & Compliance

• Identify risk areas in underwriting and other insurance operations, and develop responses to mitigate such risks.

• Own compliance with the regulator. Assess non-compliance right from product development to product launches and scale and implement corrections.

Reporting & Automation

• Introduce regulator reporting templates to insurance operations and ensure reporting as per regulator timelines.

• Track and analyse the performance of insurance products using data from our internal CRM system, building dashboards and reports that give the management team key insights for decision making.