Senior Manager: Underwriting (Commercial Lines) at Santam Insurance

What will you do?

• To manage Santam Client Solutions (SCS) Commercial Lines (CL) business portfolio to ensure achievement of SCS’s profitable growth targets. Create, develop and grow a world class underwriting team in support of the SCS strategic objective to grow in its target markets through the multiple distribution channels within SCS. Manage and deliver on the following areas:
• CL insurance classes performance with regards to premium growth and profitability
• Ownership of the full underwriting functions, including Underwriting Guidelines for Santam SCS and where appropriate collaboration with peers within Santam.  

Key accountabilities and responsibilities include:

• Achieve SCS financial targets by working with internal stakeholders, including Pricing, Product Management, Distribution, and Operations, to drive profitable and sustainable growth.
• Implement strategic initiatives to meet financial goals, including designing SCS products for target markets and distribution channels in partnership with Product Management.
• Develop and manage underwriting rules and processes to ensure they align with Santam’s risk appetite and facilitate ease of business.
• Draft and update policy wordings, conditions, and rules to minimize underwriting leakage, enhance client experience, and comply with legislative changes.
• Collaborate with SCS Pricing to set and align rating parameters and underwriting rules based on data analysis.
• Manage underwriting authority and compliance, balancing flexibility with Santam’s profit and growth targets.
• Stay informed on global underwriting trends for Commercial lines risks, exploring opportunities for innovation or risk adjustments in the South African market.
• Develop new solutions and innovations to maintain Santam’s market leadership across segments.
• Engage with Santam Group’s expert underwriters to ensure optimal client and broker solutions.
• Ensure offerings are competitive and market-related, achieving the required return on investment.
• Drive and manage the achievement of SCS’s Commercial lines business growth targets, balancing profitability across business classes.
• Address profit and growth challenges with solutions such as improved underwriting rules, automation, and risk models.
• Collaborate with Operations, Distribution, and external stakeholders on complex underwriting issues to secure buy-in and identify growth opportunities.
• Implement and oversee adherence to underwriting guidelines, policies, and procedures.
• Approve technical policy wordings, underwriting manuals, and reinsurance processes.
• Report on compliance with underwriting guidelines in collaboration with SBS Governance.
• Assess and discuss reinsurance programs with Santam Reinsurance for optimal structures.
• Represent Santam at industry forums and SAIA as needed.
• Influence external stakeholders on general insurance and risk relevance.
• Inspire and motivate staff to manage turnover and compete for talent.
• Provide guidance on complex risks and insurance matters to internal staff.

What do you need?

• Bachelor’s degree or relevant insurance qualification e.g. AIISA or FIISA or similar 
• Proven track record of at least 6 years’ experience within STI Underwriting environment, of which at least 2 years’ management of an underwriting function. 
• Good knowledge of Commercial underwriting is essential.
• Specialist Property & Motor technical underwriting expertise.
• Thorough knowledge of Santam’s products.
• Knowledge of (and understanding of the impact of) the relevant legislation on the business e.g. Building regulations etc.
• Advance Computer literacy (MS Word, Excel & PowerPoint)