Job Description

Job Purpose
The Rates Solution Analyst transforms actuarial pricing structures into effective business processes and technical solutions for short-term insurance. Working closely with underwriters, actuaries, and product owners, the analyst ensures rating models and regulatory changes are accurately integrated into operational systems. The role involves analysing business impacts, validating algorithms, documenting requirements, and supporting agile development to optimize rating processes and enable precise pricing and product delivery.
Key Responsibilities:
Requirement Gathering

• Interacting with all relevant stakeholders (underwriters, actuaries, Product Owners etc.) to capture rating, pricing and underwriting requirements.
• Conduct gap analysis and review how current products are set-up in the system in terms of rating between current and desired rate structures to identify changes and additions required to meet the business requirements.

Solution Design & Documentation

• Translate actuarial outputs (i.e. actuarial models, risk factors, rating structures etc.) into system requirements and business rules.
• Maintain and enhance data dictionaries, ensuring clear definitions and mappings of all data elements that interact with the rating engine and connected financial systems.
• Document risk mitigation strategies not limited to changes, version upgrades or new rating algorithms
• Review business processes to identify needs, build a clear business case, and share the expected benefits, risks, and impacts with stakeholders.
• Coordinate walk-throughs with key stakeholders, including product owners and actuarial teams, development and testing teams and ensure their understanding of the intended solution.

Agile Delivery & Backlog Management

• Support cross-functional teams by creating user stories, guiding the development of acceptance criteria and test cases.
• Champion Agile methodologies, encouraging continuous improvement, and leading all key Agile ceremonies

Testing & Validation

• Ensure rating rules, formulas and rating tables are accurately implemented in line with business and actuarial specifications.
• Validate premium discounts, and underwriting rules against actuarial models. Ensure migration and versions rules are applied efficiently.

Training & Change Management

• Support teams through system changes, upgrades, or new product launches, helping to ensure smooth transitions and effective communication of changes.

Compliance & Governance

• Conduct impact analysis (assessment of the new products, endorsements/MTA and/or regulatory changes on rating models) to identify and understand risk associated with the change.

Continuous Improvement

• Assess existing components--such as base rates, formulas, and risk factors--and consider their use before customizing.
• Make recommendations based on the interpretation of the actuarial technical models into business/system terms.
• Identify opportunities to optimize rating processes, stream-line configuration and share learnings and best practices across teams

Skills Required