Jubilee Insurance is the number one composite insurer in East Africa with a proud legacy that dates back to August 1937. As the first locally incorporated insurance company in Mombasa, Jubilee has consistently led the way in innovation, customer service, and regional growth. Today, our operations span across Kenya, Uganda, Tanzania, and Burundi, offering Life, Pensions, General, and Medical Insurance services to over 1.9 million clients.
As the only ISO-certified insurance group listed on the Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange, and Uganda Securities Exchange, Jubilee continues to uphold the highest standards of service and governance. We are committed to excellence, innovation, and the development of our people.
We are pleased to announce an exciting opportunity within our Nairobi Head Office for a driven and skilled professional ready to contribute to our legacy of excellence. We invite applications for the following role:
Job Title: Senior Actuarial Analyst
Job Reference No: JHIL176
Reporting to: Assistant Manager – Actuarial
Location: Jubilee Health Insurance Limited, Head Office, Nairobi
Application Deadline: 6th June 2025
Role Purpose
The Senior Actuarial Analyst will play a critical role in supporting the Actuarial Department in pricing, reserving, business intelligence, and risk analysis. This position ensures that sound actuarial principles are integrated into the development of health insurance products, financial reporting, and regulatory compliance. The role demands high-level data analysis skills, actuarial modeling expertise, and collaboration with various internal departments.
Key Responsibilities
Strategy
- Support the design, review, and pricing of new and existing health insurance products, ensuring alignment with the company’s risk appetite and market positioning.
- Analyse claims experience to provide recommendations for pricing adjustments based on benefit utilization and medical trends.
- Build and maintain actuarial pricing models that support business growth and profitability.
- Deliver data-driven insights to guide strategic product and pricing decisions.
Operational
- Collaborate closely with the Operations and Business Development teams to price and manage corporate schemes effectively.
- Generate detailed reports and dashboards to provide management with actionable actuarial intelligence.
- Support automation initiatives for actuarial processes and tools, enhancing speed and accuracy.
- Offer mentorship and technical guidance to junior actuarial staff and interns, fostering professional growth and team competence.
Corporate Governance
- Ensure full compliance with the Insurance Regulatory Authority (IRA), industry standards, and professional actuarial guidelines.
- Provide technical support during internal and external audits through thorough documentation and clear analysis.
- Maintain comprehensive and accurate documentation of actuarial models, assumptions, and methodologies.
Leadership & Culture
- Work cross-functionally with teams including Underwriting, Claims, IT, Finance, and Business Development to integrate actuarial insights into business operations.
- Present findings clearly and effectively to internal stakeholders to drive data-informed decisions.
- Champion a culture of actuarial excellence, continuous learning, and data integrity across the organization.
- Uphold the highest standards of professionalism, ethics, and integrity in all responsibilities.
Laws, Regulations & Policies
- Stay informed of and ensure adherence to relevant regulatory frameworks, including but not limited to:
- Anti-Money Laundering (AML)
- Counter Financing of Terrorism (CFT)
- Data Protection and Privacy Regulations
- Implement internal policies and processes that ensure compliance with external laws and company standards.
- Lead the development of departmental compliance programs that align with legal requirements and operational efficiency goals.
- Foster an ethical and transparent work environment where compliance issues can be openly reported and addressed.
Key Skills and Competencies
- Advanced Actuarial Modelling: Proficient in developing and applying complex actuarial models for pricing, reserving, and forecasting within the health insurance domain.
- Data Analytics: Strong command of statistical tools and methodologies to derive meaningful insights from large health-related datasets.
- Product Development: Skilled in pricing and structuring innovative health insurance products that are competitively positioned and financially sound.
- Insurance Claims Analysis: In-depth knowledge of medical claims, enabling accurate cost projections and trend evaluations.
- Risk Assessment: Experience in building models to assess operational and underwriting risks, and in determining capital adequacy based on solvency requirements.
- Dashboard Reporting: Capable of creating insightful actuarial dashboards and reports for executive decision-making.
- Automation and Process Improvement: Proven ability to streamline actuarial tasks through automation and system integration.
- Documentation and Compliance: Diligent in maintaining detailed actuarial documentation to support internal reviews, audits, and regulatory inspections.
Academic Qualifications
- Bachelor’s degree in Actuarial Science.
Professional Qualifications
- Progress toward recognized actuarial certification is required.
- Minimum: 4–6 actuarial exams with SOA (Society of Actuaries), IFoA (Institute and Faculty of Actuaries), or any other internationally recognized actuarial body.
Relevant Experience
- A minimum of four (4) years of actuarial experience in health or medical insurance is essential.
- Proven expertise in pricing and product development within a regulated insurance environment.
Why Join Jubilee Insurance?
- Be part of East Africa’s most trusted and dynamic insurance brand.
- Work in a collaborative environment that values innovation, performance, and growth.
- Join a diverse and inclusive workforce committed to professional development and excellence.
- Engage in work that makes a real impact on millions of lives through healthcare access and financial security.
How to Apply
If you are ready for a new challenge and meet the qualifications and experience outlined above, we invite you to take the next step in your career with Jubilee Insurance.
Please submit your application through our official recruitment platform by 6th June 2025. Ensure you quote the Job Reference Number (JHIL176) in your application.
