Underwriting Manager

Assume overall accountability for all technical and operational underwriting functions and results within the organization.
Sasria, a state-owned company, is the only short-term insurer in South Africa that provides affordable voluntary cover against special risks such as civil commotion, public disorder, strikes, riots and terrorism to any individual, business, government or corporate entity that has assets in South Africa.

Sasria has a dual mandate – legislative mandate that directs our day-to-day business operations, and a broader strategic mandate, like any other business in South Africa, to make a positive contribution to transforming our industry and our country, in order to make our country a better place for all her people.

Vision
Special Risk covered

Mission
To Provide Special Risk Solutions for Stability in South Africa.

Core Values
The following values underpin Sasria's pursuit of its stated vision and mission:

  • Fairness - we will treat all our stakeholders impartially and with respect, recognising our accountability to them;
  • Ethics - we will conduct ourselves in a manner that is transparent and ethical: courageously doing what is right, honouring our commitments and communicating honestly;
  • Service Excellence - in the performance of our work, we will consistently apply our knowledge, experience and best efforts to deliver relevant and professional service of an exceptional standard;
  • Collaboration - we will engage with our partners and employees, assuming positive intent, respecting diversity and working together to create uniformly positive outcomes
  • Innovation - we will apply thought and creativity to the application of new solutions to our and our customers' needs and requirements.
ROLE DESCRIPTION

Job summary statement/purpose
Assume overall accountability for all technical and operational underwriting functions and results within the organization.

KEY PERFORMANCE AREAS (DUTIES & RESPONSIBILITIES):
  1. Rate Implementation
    • Monitor pricing to ensure its competitiveness and viability in the market.
    • Ensure the rate indications are materialized within the market.
    • Application of correct rates within XOL programme as per delegated authority.
  2. Underwriting Function
    • Review terms and conditions of products annually and provide recommendations to Technical Underwriting Manager.
    • Review multi-claimant accounts and make recommendation i.t.o. corrective actions to be taken.
    • Oversee operational issues – queries, client visits, technical support to agents.
    • Ensure adherence of underwriting team to all relevant policies.
    • Develop; maintain and implementation of the Underwriting procedures and processes.
    • Ensure adherence to Underwriting wording and regulations.
  3. Training
    • Assume overall responsibility for underwriting related training on behalf of Sasria.
    • Oversee the process of education through various platforms on Sasria products to clients/agents, ensuring basic understanding of Sasria's role in the market (Including national road shows).
    • Prepare all training material (manuals & presentations).
  4. Risk Management
    • Manage insurance operational risk as per governance framework.
  5. Strategy Development
    • Participate in the development of a strategy to achieve the objectives of Sasria.
    • Execution of the departmental strategy.
    • Contribute in compiling budgetary requirements.
    • Control the operational departmental budget ensuring expenditure remains within the set parameters.
  6. People Management
    • Manage performance of direct reports.
    • Ensure that annual performance objectives are set and understood by team members in the department.
    • Ensure agreement of annual goals, measuring performance against agreed goals.
    • Talent Management of direct reports, development areas identified and career development plans and paths in place for team members.
    • Ensure that the working environment contributes to improving staff morale and increasing productivity.
    • Develop Individual & Team Competence.
    • Ensure that all staff are trained, skilled and that their expertise is fully applied.
    • Ensure that working environment contributes improving staff morale and increased productivity.
Qualifications and Experience:
  • Matric.
  • Tertiary qualification
  • BCom degree
  • Insurance related qualification
  • RE5
  • 5 - 8 years of experience in an Underwriting position of Short-Term Insurance.
Knowledge:
  • Sound knowledge of underwriting
  • Exposure to actuarial modelling
  • Basic understand scientific modelling underpinning the analysis and research of products
  • Understanding of the business context within which Sasria operates - local, African and global markets, and the related social and political landscapes
  • Business principles
  • Insurance principles
  • People management
Technical Skills:
  • Planning and Organising
  • Excellent writing and reporting skills
  • Networking and negotiations skills
  • Computer skills
  • Research skills
  • Excellent analytical skills

Demographics
A South African citizen of any gender, preference will be given to an EE candidate.

Location of the role
The role will be in Illovo, Johannesburg.

CLOSING DATE: 31 December 2020

Sasria is committed to diversifying its staff profile in terms of its transformation agenda and encourages candidates from previously disadvantaged backgrounds to apply. Sasria will respond to short listed candidates. Candidates who have not been contacted within 4 weeks of the closing date can assume that their application has been unsuccessful.

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Sandton Gate, 3rd floor,
27 Minerva Avenue,
Glenadrienne,
Sandton

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Phone: 011 341 9480

Email: communications@iisa.co.za
Office Hours

Monday - Thursday: 8:00 - 16:30
Friday: 8:00 - 15:30

Saturday - Sunday: Closed

The Insurance Institute of South Africa

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