Company: Discovery Corporate and Employee Benefits
Industry: Financial Services, Group Risk, Life Insurance & Retirement Savings
Business Unit: Discovery Employee Benefits (DEB)
Function: Data Analysis / Pricing & Underwriting
Location: Sandton / Johannesburg, Gauteng
Position Type: Full-Time Permanent
Posted Date: 30 July 2026
Closing Date: Open / Rolling Applications
About Discovery Employee Benefits (DEB)
Discovery’s core purpose is to make people healthier and to enhance and protect their lives. Discovery Corporate and Employee Benefits is a pioneer in the financial services sector, integrating behavioral science and shared-value incentives into retirement savings and group life insurance for corporate clients.
As a Pricing Analyst, you will manage new business quotations, perform group risk assessments, support existing scheme renewals, and execute data analysis to ensure the long-term profitability and competitiveness of Discovery’s employee benefits book.
Key Result Areas & Operational Workstreams
Your key operational deliverables will cover five core pillars:
1. Risk Assessment & Quotation Processing
- Scheme Quoting: Conduct risk assessments and process Group Risk & Retirement quotes for schemes
- Data Validation: Ensure incoming corporate scheme data is complete, identifying and resolving discrepancies prior to actuarial modeling.
- Facultative Reinsurance: Liaise with external reinsurers for scheme profiles falling outside standard treaty terms.
2. Actuarial Policy Compliance & Rate Analysis
- Underwriting Policy: Analyze scheme profiles in accordance with internal Actuarial Policy and Standard Operating Procedures (SOPs).
- Rate Analysis: Conduct in-depth statistical analysis of risk rates, free cover limits (FCLs), and premium structures to guide pricing decisions.
3. Sales, Servicing & Renewal Support
- Stakeholder SLA: Process and issue quotes within strict Service Level Agreements (SLAs) for Business Consultants (BCs) and Servicing Consultants (SCs).
- Retention & Renewals: Support servicing and renewal teams with competitor rate analysis and scheme retention strategies.
4. Market Intelligence & Competitor Benchmarking
- Competitor Analysis: Analyze rival insurers’ pricing strategies, identifying market trends and making actionable rate recommendations.
5. Systems Testing & Special Projects
- System Testing: Participate in System Development Testing across QA and Production environments.
- Reporting: Generate ESQS general reports, log quote metrics, and execute ad-hoc analytical projects for the Pricing Manager.
Candidate Profile & Requirements
To qualify for this analytical role, candidates must meet the following criteria:
- Academic Qualifications:
- Matric / Grade 12: Essential.
- Degree Requirement: Completed Bachelor of Commerce (BCom) degree (or equivalent commercial qualification) which must include at least 1st-year Mathematics or Statistics.
- Advantageous: Recognized insurance industry qualifications (e.g., COP/ICiBSA).
- Work Experience: Minimum of 2 years of experience in Group Risk Pricing and financial data analysis.
- Technical & Software Skills:
- Microsoft Excel: Intermediate to advanced Excel proficiency for data manipulation and modeling.
- Microsoft Office Suite: Strong general proficiency.
- Advantageous: Hands-on skills in Power BI and Visual Basic for Applications (VBA).
- Industry Knowledge: Solid understanding of South African group risk products, insurance trends, and underwriting objectives.
- Key Attributes: Strong numerical accuracy, deadline-driven, ability to simplify complex analytical findings, and comfortable working under pressure.
Career Advice for Discovery Applicants
- Highlight BCom Math/Stats Coursework: Discovery strictly checks academic transcripts for university-level Mathematics or Statistics modules. Ensure these are explicitly listed on your CV.
- Detail Group Risk Experience: Emphasize any hands-on exposure to group life, disability, funeral, or retirement scheme pricing, free cover limit calculations, or reinsurer treaty structures.
- Showcase Excel & Power BI Capabilities: Highlight specific functions (e.g., VLOOKUP/XLOOKUP, Pivot Tables, SUMIFS, Power Query) and any dashboard building experience in Power BI or VBA automation.
Sample Technical & Pricing Interview Questions
Group Risk & Underwriting Questions
- Question (Free Cover Limits): “How do you evaluate scheme demographic data (e.g., age distribution, salary profile, industry risk) when setting Free Cover Limits (FCL) for a group risk quote?”
- Question (Data Cleaning): “What steps do you take when incoming employee benefit data contains missing salaries, inconsistent job titles, or date-of-birth anomalies?”
Competitor Benchmarking & Excel
- Question (Rate Benchmarking): “How do you approach analyzing competitor pricing when Discovery’s rates are higher, but our shared-value benefits offer broader long-term value?”
How to Apply
Submit your application directly through the official Discovery Careers portal: