Actuarial Associate at Pula

What you will be doing:

• The Actuary will be expected to manage, design and price products, improve and analyze existing products, manage the risk placement process for insurance contracts, conduct research on projects/opportunities as needed, analyze payouts and any other task as needed from time to time.

The details of the tasks expected to be undertaken under this role are as below:

• Designing, pricing and implementing bespoke Climate and Agriculture insurance solutions or any other product lines as required from time to time.
• Conduct, document and implement research on new or existing product opportunities as well as projects undertaken by the business.
• Collecting, managing and ensuring high quality data is collected across our countries of operations especially for new or modified products.
• Creative thinking around analysis of customer data and visualizing this data
• Provide technical and analytical support in engagements with insurers and reinsurers to seek their buy-in into the new or modified products.
• Understand, analyze, and design solutions based on engagements with potential clients to understand their risk exposure needs.
• Providing inputs and liaising with automation and innovation teams on automation of insurance operation processes for new and modified products/innovations.
• Liaising with the commercial function with respect to evaluation, design and launch of new products and opportunities.
• Developing technical notes, legal wordings, and briefs for insurers and reinsurers across various geographies.
• Supporting the business in the negotiation of product design and rates between the client, insurers and reinsurers.
• Payouts: Provide timely payout reports, present the payout reports to internal as well as external stakeholders which include Commercial teams, Clients, Insurers etc.
• Work closely with reinsurers and insurers to get the payout approvals.
• Insurance & Reinsurance: Provide technical support to reinsurers and insurers. Organize regular training for the industry at large.
• Data management: Ensuring data protocol, systems and quality control measures are developed, identifying, and maintaining digital security systems to safeguard sensitive data, initiate data improvement and data automation strategies.
• Claims experience Analysis: Monitoring claims experience of company's insurance products to feedback product re-structuring and pricing decisions.
• Support the overall growth of business of the firm, meeting with external business partners as part of expansion initiatives.

Beyond this, a successful candidate should:

• Autonomously take full responsibility of analytical projects in some of the following areas: product pricing, payouts, automation, corporate planning, reinsurance, and/or R&D. The Actuary will be accountable to find the proper ways to meet the needs, deadlines and expectations of its stakeholders.
• Be responsible to find solutions and assist colleagues with their problem-solving of complex situations by sharing understanding of difficult actuarial/statistical concepts and providing training on such.
• Master the analytics and actuarial work processes to be able to recommend improvements and implement approved modifications, including but not limited to creating new macros working with existing software, etc.
• Thrive in a fast-paced startup environment, where getting the job done within seasonal deadlines is paramount
• Occasional work and travel to rural areas in Africa and Asia
• Flourish in a highly talented, diverse and multicultural team environment

 Recommended qualifications:

• Bachelor's degree in actuarial science, Mathematics, Statistics, or a related field. (First Class preferred)
• 3 years experience in an actuarial role
• 6 International Actuarial Exams completed
• In-depth knowledge of insurance products, underwriting, and actuarial principles.
• Excellent communication and presentation skills, with the ability to simplify complex technical information.
• Strong analytical and problem-solving skills.
• Ability to work independently and collaboratively in a fast-paced environment.
• Proficiency in programming tools and software.

What Pula will bring to the table

• Growth potential: With an untapped market of 1.5 billion smallholders worldwide, on track to doubling the number of farmers insured in 2021 and Pula's global leadership in Agriculture Insurance, our new staffers have a tremendous upside growth potential.
• Market Leader: Not only is the opportunity massive, but Pula is by far the market leader in it's category with 11m farmers insured as of 2023.
• Solid: Pula has been funded by leading venture capital investors (Omidyar Network, ACCION, MercyCorps) and global philanthropic institutions (MasterCard Foundation, CGAP/World Bank as well as the Bill and Melinda Gates Foundation). Pula closed a $6m series A funding in December 2020 in the right in the middle of the pandemic a clear testimony of the opportunity that Pula is going after.
• Respected: Winner of the Singapore FinTech Festival 2019, Winner of The InsureTech of the Award, Africa. Featured on TED talks, The New York Times, The Economist.
• Impact and creation: This is a high-impact role, that offers a unique opportunity to bring the company to the next level, whilst developing new strategies, approaches and ideas.
• Leadership: The founders & CEO foster a culture of transparency, respect, high performance, pragmatism, execution and personal development.
• Purpose: It is rare to find a professional opportunity that offers accelerated professional development and a life purpose. Pula is going through a second phase of accelerated growth that will naturally provide professional development, whilst contributing to the financial stability of small farmers in the emerging markets.
• Remuneration: Competitive base salary accordingly with seniority and experience, commission on closed sales and an employee share option plan that offers an attractive equity upside.

To learn more about Pula you can visit

• TED Talk: Crop Insurance, an Idea Worth Seeding
• New York Times: He Grew up on a Farm. Now, He Helps Protect Them
• The Economist: The Poor, Who Most Need Insurance, Are Least Likely to Have It