New Jobs at Santam Insurance

WHAT WILL YOU DO

• The Senior Reinsurance Underwriter is to report to the Chief Underwriting Officer.
• Applicants must be based in Cape Town, South Africa, or be prepared to relocate. The role also requires some travel.
• This dynamic role requires a passionate, energetic individual to handle reinsurance pricing activities, tools management and portfolio steering to manage exposure, profitability and growth.

WHAT WILL MAKE YOU SUCCESSFUL IN THE ROLE

• Underwriting, managing and maintaining a reinsurance treaty book in the chosen territory. This is both, a client facing and an underwriting role.
• Analyzing and working with Client’s information.
• Pricing treaties using internal models.
• Reviewing Contract Wordings in line with the Underwriting Guidelines.
• Performing Compliance checks on Contracts and Cedants.
• Preparing Underwriting Review for Underwriting Committee.
• Review and manage endorsements and special acceptances.
• Claims review and approval.
• Capturing of information on relevant filing system.
• Responsibility for completeness of all required documents.
• Maintenance of internal Reports.
• Training and development of team members on areas of expertise and new industry relevant topics.

QUALIFICATION AND EXPERIENCE
 Minimum requirements:

• Master’s degree, Engineering Degree, Law or Actuarial Qualification (FIA, CFA or Actuary) with significant numerate component
• At least 7 years of work experience in the reinsurance, finance, risk management or engineering sectors preferably in underwriting or client management
• Solid Client and Business Development experience (at least 7 years of experience)
• Willingness to work over the Christmas and other holiday periods 
• Willingness to travel internationally

Advantageous qualifications, knowledge and experience:

• 7 years’ experience in the short term insurance industry/reinsurance environment.
• Good understanding of reinsurance principles and concepts
• An understanding of reinsurance wordings, reinsurance markets and the end-to-end analysis of a reinsurance submission. 
• A strong understanding of insurance and related risks 
• Reinsurance technical accounting knowledge 
• Project Management experience

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WHAT WILL YOU DO

• Senior Pricing Actuary to report to the Chief Pricing Actuary & Chief Underwriting Officer.
• Applicants must be based in Cape Town, South Africa, or be prepared to relocate. The role also requires some travel.
• This dynamic role requires a passionate, energetic individual to handle reinsurance pricing activities, tools management and portfolio steering to manage exposure, profitability and growth.

WHAT WILL MAKE YOU SUCCESSFULL

• Pricing of Santam Re’s larger contracts and complex treaties.
• The maintenance and development of Santam Re pricing tools.
• Reviewing pricing assumptions and output produced by the underwriting team.
• Maintaining a detailed understanding of the Santam Group, Santam Re underwriting guidelines.
• Reviewing slip and underwriting guideline checks performed by underwriters.
• Development and maintenance of dashboards for underwriters, as well as for client relationship managers who undertake their own market visits.
• Working with the reserving team to determine business segment profitability, on a quarterly basis.
• Research and development of reinsurance portfolio optimisation.
• Ongoing training and skilling in the interpretation of data & pricing principles.
• Market visits to acquire general underwriting and pricing views market stakeholders.

QUALIFICATION AND EXPERIENCE
Minimum requirements:

• A Qualified or Associate Actuary or as close as possible.
• Ten years’ experience in reinsurance pricing or as P&C actuary in general.
• An understanding of how risk is shared between insurer and reinsurer on various reinsurance contracts.
• Strong analytical and problem-solving skills, with proficiency in mathematical/statistical techniques and software skills.
• Ability to collate, analyse and interpretstatistical data.
• Knowledge of actuarial principles, insurance/reinsurance concepts, and risk management frameworks.
• Proven prior experience in P&C  actuarial work.
• Strong written, verbal, and presentation communication skills.

Advantageous qualifications, knowledge and experience:

• Ability to build and maintain good internal and external relationships as well as maintaining a high standard of professionalism.
• A high degree of self-management, displaying an organised and measured approach to the workload and the clients.
• Strong planning and organisational skills.
• Display an extensive knowledge of the short-term insurance industry.
• P&C reinsurance experience. 

COMPETENCIES

• Collaboration 
• Client focus.
• Cultivates innovation.
• Flexible and adaptable.
• Drives results.

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WHAT WILL MAKE YOU SUCCESSFULL

• Assist the Underwriter/Client relationship management team in developing, managing and maintaining a reinsurance treaty book in the chosen territory. This is both, a client facing role and an analytics and accounting role.
• Building and maintaining reinsurance broker and client relationships for both existing business and potential business.
• Pricing and underwriting the reinsurance treaties using a range of actuarial and softer methods as well as checking reinsurance contracts
• Support the drive of profitability and growth in the chosen territory according to annual premium volume, profitability and volatility benchmarks. 
• Research different region’s (Re)insurance sectors to determine the best strategy to employ on the portfolio
• Improving processes by actively engaging stakeholders on the processes involved in the underwriting process.
• Analyzing contract wordings
• Actively involved in projects determined by the Territorial Head and/or Chief Underwriter.
• Administration: updating internal systems and files, running reports. Ensures the admin for the team is completed on SharePoint and iRe (liaising with admin team).
• Supports the territorial head and reinsurance underwriter with preparing for trips by preparing market research, pulling accounts for clients being visited, etc.
• Frequently engages with clients over teams, zoom, the phone.
• Has an established relationship with the accounts and claims teams.
• Checking and monitoring accounts, payments and profitability of the book.

QUALIFICATION AND EXPERIENCE

• Undergraduate degree with a significant numerate component such as Math, Computer Science, Statistics, Economics, Physics, Engineering or Actuarial Science.
• 0-3 years’ of work experience preferably in the insurance/ reinsurance, finance and/ or risk management sectors.

SKILLS

• An understanding of reinsurance wordings, reinsurance markets and the end-to-end analysis of a reinsurance submission. 
• A strong understanding of insurance and related risks 
• Reinsurance technical accounting knowledge 
• Willingness to work over the Christmas and Easter Holiday period
• Willingness to travel internationally 
• Good understanding of reinsurance principles and concepts
• Excellent verbal and written communication skills
• Analytical ability
• Ability to read and review contracts critically in line with company requirements
• Advanced numeracy skills
• Ability to work independently with limited supervision
• High stress tolerance 
• Ability to work to tight deadlines and under pressure
• Strong negotiation skills
• Team Player
• Ability to work flexible working hours
• Must be pro-active and take ownership of tasks
• Willingness and desire to learn
• Good work ethic
• Ability to multi-task
• Solid interpersonal and relationship building skills
• Good planning and organizing skills
• Time management
• Great understanding of business processes