Product Development Actuary

Actuarial · Nairobi, Nairobi
Department Actuarial
Employment Type Full-Time
Minimum Experience Experienced

About Pula: 

We work in 13 countries across Africa and Asia, and in 2020, we facilitated crop insurance cover to over 4.7 million farmers across Kenya, Rwanda, Uganda, Nigeria, Mali, Senegal, Zambia, Ethiopia, Madagascar, Tanzania, and Malawi. Since raising our Series A our operations have expanded globally including now Asia and Latin America.


Pula is fast-paced, constantly adapting to new opportunities and challenges. We are a high-performance, multi-cultural team. We expect our team to value performance, results and professionalism.


At Pula, we are: 

  1. We are customer obsessed and for us it's not done until it's done. Pula’s insurance protects those who feed the world, and we are obsessed with delivering value to smallholder farmers as we build the systems that protect them against catastrophic risks together with global insurers, businesses and international NGOs. 
  2. We have each other’s back: we recognize that building real sustainable businesses for agriculture in Africa are rare, and we have each other's back as we build this new Africa. 
  3. We are groundbreaking: In most countries where we work, agriculture insurance has never been done before and so as we have to stretch the limits of what’s possible, bringing agricultural insurance to places where it has never been before. 
  4. We make it happen: We execute at a high level, even in complex circumstances and with tight seasonal deadlines, with the goal of building a sustainable and profitable enterprise

We have been funded by venture capital investors (TLCom, Women’s World Banking, African Risk Capacity, Omidyar Network, ACCION, MercyCorps) and global NGOs (African Development Bank, MasterCard Foundation, CGAP/World Bank as well as the Bill and Melinda Gates Foundation). 


The Pula Actuary

If you are looking to be a traditional pencil pushing actuary, then Pula is not the place for you. However, if you are looking to push the boundaries of traditional insurance and take strides in changing the lives of the poor, then we look forward to receiving your application!


You will be working with a team of qualified actuaries, CFA’s and Data Scientists to build products that will shape the future of agriculture insurance across Africa & Asia. At Pula we strive to change the markets that we operate in using new & exciting technologies to make the world a better place. Some of the technologies we are currently using or exploring include Machine Learning, use of drones for claims adjustment, R-based models and satellite/remote sensing technology for pricing. 


Scope of work:

We are looking for an exceptional Product Development Actuary with a passion for a new product development process to join our team and take our products to the next level.

The candidate will work within the Actuarial and Analytics function and report to the Head of the Team, with a broader goal of delivering new products to support continued business expansion and growth of Pula.

  • With Pula rapidly growing ambition to expand Agriculture and parametric insurance offering we seek an actuary as a product Lead who supports the team to achieve business goals.
  • The candidate will be expected to develop bespoke insurance products and to work with internal (other departments) and external stakeholders (insurers, reinsurers and clients) to deliver competitive products to the market.


As part of their daily responsibilities the Product Development Actuary will be tasked with:

  • Design, price and implement bespoke insurance solutions to new markets e.g. Agriculture, energy sectors.
  • Engage with insurers and reinsurers to seek their buy-in into the new products.
  • Engage with potential clients to understand their risk exposure needs.
  • Continuously iterate existing products to improve the client value proposition.
  • Design and manage insurance new product development and management plan 
  • Liaise with the commercial function with respect to design and launch of new products.
  • Collecting, reviewing and analysing the data collected which will be used for developing and pricing for products.
  • Managing and ensuring high quality data is collected across our countries of operations.
  • Developing technical notes, legal wordings, and briefs for insurers and reinsurers.
  • Managing the negotiation of product design and  rates between the client, insurers and reinsurers.
  • Analytics of customer data.
  • Analyze product portfolio and monitor loss ratio & profitability.


The right applicant would have the following skill set:

  • Bachelor's degree in Actuarial Science
  • Qualified or Part-Qualified Actuary of the Institute Faculty of Actuaries (IFoA) or equivalent.
  • At least 3 - 5 years experience in Product development experience in the insurance industry.
  • Able to understand business problems & appropriately leverage data to develop practical solutions.
  • Able to think outside the box to develop creative solutions on either the technical or business side.
  • Able  to develop insurance products including rates and new coverages.
  • Able to effectively analyze & visualize data to address business questions.
  • Able to communicate effectively, both verbally and in writing, to both technical and non-technical audiences.
  • Able & willing to continuously learn programming languages, statistical methods, & other technical skills relevant to the job
  • Excited to experiment with new methods, tools, programming languages, etc.
  • Able to work both independently and in a team environment.
  • Able  to coordinate all related parties to achieve targets.
  • Able  to manage multiple priorities 
  • Adaptable, willing and able to learn from mistakes, growth mindset, and receptive to feedback.
  • Demonstrated leadership potential and a high level of dependability.
  • Proficiency in programming languages is a plus.
  • Very strong quantitative and analytical skills.


To learn more about Pula: 

  • 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 


We accept applications on a rolling basis but recommend applying as soon as possible.

Thank You

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  • Location
    Nairobi, Nairobi
  • Department
    Actuarial
  • Employment Type
    Full-Time
  • Minimum Experience
    Experienced