Actuarial Manager

Actuarial Manager (Product Development) – Geotab Vitality (Vitality Drive International)

Geotab Vitality is a joint venture between Geotab, a global telematics company, and Vitality, the world leader in behaviour change. The venture applies the Vitality shared-value model to commercial fleets: telematics data from Geotab devices measures how safely fleet's drivers drive, and Vitality incentive and rewards mechanics are used to change that behaviour, so that fleets record fewer accidents, lower claims and lower operating costs. The Actuarial and Product capability supporting the venture is anchored within the wider Vitality Drive team, so that the role carries dedicated accountability for Geotab Vitality outcomes while drawing on the product research, behavioural science, data analysis and rewards management expertise that already exists in Vitality Drive.

Discovery Insure is committed to creating a nation of great drivers through our innovative Shared-value Insurance model. Discovery Insure is South Africa’s fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home insurance sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well.

The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.

​​The Actuarial Manager is accountable for the Geotab Vitality product roadmap, its delivery timelines and its commercial outcomes and represents the venture at the relevant Geotab product forums so that Vitality shared-value mechanics are progressively embedded across the Geotab ecosystem.

Matric (Essential).

Bachelor's or Honours degree in Actuarial Science, Mathematical Statistics or a closely related discipline (Essential).

Qualified Actuary and current member of the Actuarial Society of South Africa: AMASSA (Associate Member) or FASSA (Fellow Member) (Essential).

At least 5-8 years' experience in an Actuarial role, with a substantial portion in pricing, product development or research and development

At least 1 year Research and Development experience within an Insurance industry (advantageous)

At least 1 years’ experience in short-term insurance (advantageous)

Experience influencing senior stakeholders in a partner, joint venture or client organisation.

Experience in commercial or fleet insurance (advantageous)

Experience of shared-value or incentive-based product design (advantageous)

Exposure to international markets outside South Africa (advantageous)

Own the Geotab Vitality product roadmap, delivery timelines and commercial outcomes, and hold a permanent seat at the relevant Geotab product and governance forums.

Design and calibrate the fleet driving behaviour score and the underlying telematics event definitions, including how harsh braking, acceleration, cornering, speeding, phone distraction and driving hours translate into a defensible measure of risk.

Quantify the relationship between driving behaviour and claims experience, and build and maintain the models that demonstrate the accident frequency and claims cost reduction the programme delivers to fleets and their insurers.

Price and cost the rewards and incentive structures so that the value returned to fleets and drivers is funded by the improvement in risk, and monitor the resulting margin, uptake and engagement against plan.

Translate behavioural science into product mechanics that fleet managers and professional drivers actually respond to, working with the Vitality Drive behavioural science, data analysis and rewards management teams rather than relying on actuarial judgement alone.

Build the commercial case for the programme with Geotab resellers, fleet customers and insurance partners, including pricing of the proposition, funding of rewards partners and the value case presented to each fleet.

Support the operational and relational running of the venture alongside the operations team, providing the analytical backbone for reporting to fleet customers, and contribute to the strategic agenda with the venture leadership.

Influence and align stakeholders across both parent organisations, bridging a telematics engineering culture and an insurance and behaviour change culture, and manage the data privacy, driver consent and regulatory considerations that come with monitoring driving behaviour in multiple markets.