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Open nowPosted 15 hours ago

Actuarial Associate

Turaco13 open roles

Where
Nairobi, Kenya
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Your applicationOpen nowActuarial AssociateTuraco · Nairobi, Kenya
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The clock on this job

Early applications get read.

8.2% of postings close within 7 days. Measured by our own scanner across the market. Turaco postings stay open a median of 3 days.

Share of postings closed within
  1. 1.9%1 day
  2. 3.8%3 days
  3. 8.2%7 days
  4. 15.2%14 days
  5. 34.1%30 days
This job: posted 15 hours ago

Turaco median: 3 days open

The posting

About Turaco:

It is urgent to find a way to insure people who are currently uninsured. Turaco’s mission is to liberate individuals from the fear of financial shocks. We aim to insure a billion people, effectively doubling the number of insured individuals worldwide.

Turaco is a rapidly growing financial services company in emerging markets that introduces a new model for health and risk financing tailored to emerging customers. We offer subscription-based insurance for the mass market, bundled with the regular transactions people are already engaged in. We collaborate with business partners to provide affordable insurance products that truly add value to people’s lives. At Turaco, we prioritize simplicity, communication, and transparency as we strive to transform the insurance experience. When it comes to claims, our goal is to pay out quickly and efficiently.

Turaco promotes diversity and inclusion in the workplace; we are building a team where our differences complement each other, making us stronger. We prohibit any form of discrimination and harassment based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic.

Since launching in February 2019, Turaco has cumulatively acquired over 5 million end users. We are experiencing rapid growth and are looking for team members who can grow alongside us.

To learn more, visit www.turaco.insure

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.
  • Using existing performance indicators for the Insurance Operations team build and track all requisite metrics that address underwriting of risks.
  • Automate regulatory and management reporting, building repeatable data pipelines and scripts (e.g. Python, R or SQL) that cut manual effort and reporting turnaround times.
  • Automate pricing, reserving and claims analysis workflows so that models can be refreshed quickly and reliably as new data comes in.

General

  • Work closely with Marketing and Customer Experience to understand customer satisfaction data and act on customer pain points regarding Turaco products.
  • Act as the technology integrator for the Insurance Operations team constantly reviewing existing features recommending updates and working with Tech to develop new features.
  • Lead process automation and optimization across policy administration, claims handling, underwriting and actuarial work, replacing manual, spreadsheet-based steps with scalable, automated workflows.
  • Providing continuous learning to the insurance operations team, especially on aspects of underwriting and pricing.

Desired Skills and Experiences:

  • Live Turaco’s values – care and protect our customers, do the right thing, low ego, and have fun
  • Advanced degree in Actuarial Science/ Insurance, or related field. Professional papers in Actuary or Risk are desired.
  • At least 2 years of professional experience in actuarial work or analytics, in the insurance industry or elsewhere.
  • An understanding of insurance policy administration, claims handling and insurance risk analysis is a plus.
  • Advanced data analysis skills, with hands-on experience in Python, R or SQL and data visualisation tools (e.g. Power BI, Tableau or Looker), for generating and interpreting key insurance metrics.
  • Experience automating data pipelines, models or reports, with a track record of replacing manual processes with scalable tools.
  • Excellent interpersonal skills and communication skills, including oral and written
  • A high sense of empathy toward insurance-related interactions.
  • Ability to work autonomously and take initiative, solve problems (solution-oriented),
  • Willingness to work as a team member with people in and outside of Turaco’s organization from differing backgrounds, geographies, and cultures.

Our Company Culture

Our company values are; Care & Protect, Do the right thing, Have fun, and Low ego. Our values inform the culture we have built at Turaco. Our work demands care and protects our customers, we believe in honesty, taking initiative, having fun while working, and being humble at all times. If these words describe you, join us!

Total Compensation & Benefits:

We offer a competitive salary matched to experience, alongside stock options, pension, healthcare and the opportunity to help scale one of Africa's growing insurtech businesses.

Join us in making insurance accessible to millions more people.

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