Senior Manager: Underwriting (Commercial Lines)

at  Sanlam

WHO ARE WE?

Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. Our success is rooted in our passion for our clients and everything we do is centred on our delivery of Insurance Good and Proper.
About Us
With over 106 years of experience, Santam is Africa’s leading general insurance company with a market share exceeding 24% in South Africa. Our client solutions business leads with a culture and work environment that truly provides meaningful opportunities for personal and professional growth. This is a contributing factor to Santam being recognised this year, and for the fourth consecutive year, as a Top Employer by the Top Employers Institute, the only general insurer in South Africa to achieve this rating.
This speaks volumes about our focus on best people practices, as well as our commitment to optimising and improving our business performance by selecting employees who are ready to thrive and perform with purpose.
Santam Client Solutions (SCS) Underwriting function is a key insurance capability of Santam’s SCS business unit, ensuring the achievement of the collective growth and profit responsibilities. Close collaboration with internal stakeholders, such as Actuarial, Operations, Distribution and Claims is required, to achieve these financial targets. And similarly, a proper understand of the needs of external stakeholders and our clients.
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)

Skills

• Commercial lines Underwriting skill
• Advanced Excel
• All policy administration and quoting systems of Santam
• Management experience in Underwriting
• Excellent English communication & report-writing skills
• Presentation skills
• Establish interpersonal relationship, negotiating and networking skills
• Ability to influence
• Ability to work under pressure with appropriate prioritisation skills
• Results-orientated and deadline driven
• Good analytical skills and problem-solving abilities
• Skilled in leading and coaching staff
• Creativity and ability to innovate and find new solutions to new challenges
• Able to organise own and others’ workloads to achieve priorities and objectives
• Demonstrate capability to think of the organisation holistically

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group’s Employment Equity plan and targets will be considered as part of the selection process

• 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