Job Purpose
Assist in the design and implementation of a technical underwriting framework for TIH Business Insurance (BI) that fosters superior risk selection, streamlined processing, loss ratio management and underwriting profitability.
Responsibilities
Underwriting Contribute to the decisions around technical or professional underwriting and business enhancement solutions that would significantly improve business performance. Introduce underwriting rules on the acceptance of business. Assist in the resolution of escalated underwriting complaints and escalated underwriting opinions on claims. Support and contribute to the renewal of BI’s reinsurance programme in line with business strategy. Ensure optimal placement of facultative cases.
Product & Solution Development
Analyze and evaluate the feasibility and relevance of proposed products and services. May also assist with the definition, development and delivery of a significant product or service, ensuring alignment with customer requirements. Review and enhance BI products accordingly (addressing gaps and competitively). Undertake market opportunity assessment for BI products and undertake comparative analysis on key competitors’ products.
Risk Management & Analysis
Evaluate individual risks for acceptance where potential high risk scenarios exist or where there are changes to a clients’ claims behaviour. Determine underwriting processes and minimum risk acceptance criteria for BI's.
Underwriting Policy Development & Implementation
Assist in the development of underwriting frameworks for the underwriting department. Assist with creating underwriting procedures and monitoring their implementation within underwriting. Monitor adherence to set mandates through technical audits and controls as set in the underwriting framework. Leverage all available information from our partners, the industry and internally to ensure we are constantly reviewing the underwriting processes, systems and protocols with a view to improve efficiencies and to ensure best practice.
Operational Compliance
Maintain and renew a deep knowledge and understanding of the organization's policies and procedures and of relevant regulations, and ensure own work adheres to required standards. Ensure that business activities within underwriting comply with relevant external regulatory codes and with internal policies and procedures to minimize business risk and to protect the reputation of the organization. Undertake technical underwriting audits. Maintain business rules around when audits are required and adhere to underwriting guidelines and standards by managing audits. Ensure that business objectives and personal delivery aligns to and meets the TSW principles.
Stakeholder Engagement
Identify and manage internal and external stakeholder relationships (TIH companies; Brokers; Reinsurance brokers; Management colleagues). Find out their needs/issues/concerns and reacting to these by leading and coordinating he development of stakeholder engagement plans to support the communication of business information and decisions.
Insights and Reporting
Prepare and coordinate the completion of complex reports, identifying and interpreting patterns and trends, and translating those insights into actionable recommendations. Conduct monthly statistical analyses (loss ratio, multi-claimants and claims trends analyses) and engage underwriting (policy admin) to implement appropriate proposed corrective measures. Assist with the implementation of remedial measures. Prepare and contribute effectively to forums and committees where represented.
Personal Capability Building
Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation where relevant to improve performance and fulfill personal potential. Maintain an in-depth understanding of technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.
Performance Management
Prioritize own workflow and ensure work is completed to the required standards of productivity, quality and timeliness; use performance management systems to improve personal performance.
TECHNICAL COMPETENCIES
Underwriting
Apply comprehensive knowledge / skill and provides guidance and training to others. Good knowledge of short-term industry and commercial underwriting.
Underwriting Training
Use comprehensive knowledge and skills while guiding and training others to achieve full compliance with applicable rules and regulations in management and/or operations.
Policy and procedures
Provide technical guidance when required to develop, monitor, interpret and understand policies and procedures, while making sure they match organizational strategies and objectives.
Data Collection and analysis
Provide technical guidance when required to analyze data trends for use in reports to help guide decision making.
Numerical Skills
Use an understanding of numerical concepts to perform mathematical operations such as report analysis and provide technical guidance when required.
Verbal and Written Communication
Use clear and effective verbal communications skills and provides technical guidance when required to express ideas, request actions and formulate plans or policies.
Review and Reporting
Provide technical guidance when required to review and create relevant, lucid and effective reports.
Risk Management
Identify, assess, prioritize and manage risks in the organization and provides technical guidance when required.
Planning and Organizing
Plan, organize, prioritize and oversee activities to efficiently meet business objectives.
Computer skills
Support business processes by understanding and effectively using standard office equipment and standard software packages. Proficient in MS Office and Excel
Presentation skills
Communicate with other people by speaking in a clear, concise and compelling manner.
Negotiation
Negotiate to help the organization by obtaining consensus between two or more internal or external parties who may have different interests.
Education
Grade 12/ SAQA Accredited Equivalent (Essential); FAIS Regulatory Qualification (Essential); RE 5 (Essential); Relevant 3 year Business or insurance industry related degree / diploma in management (Advantageous); Class of Business Certification (Essential); STI Qualification (Essential); RE 1 (Advantageous); AIISA/FIISA qualification (Advantageous)
Experience
Telesure Investment Holdings (Pty) Ltd (TIH) is the holding company of some of South Africa’s leading and innovative financial institutions.
These financial institutions are licensed to provide financial products and/or services ranging from short-term, long-term and health insurance as well as a comparison and investment platforms.
Our origins go back to 1 June 1985, when Auto & General Insurance was launched into the South African market. We have since grown into a group of subsidiaries of which Auto & General now forms a part.
Today, we own some of South Africa’s most loved and recognisable brands, each finding a better way to give their unique group of customers peace of mind.
We exist to continuously find better ways to give people peace of mind, whether it is to protect what they own, their loved ones or their greater ambitions and life plans they’re working so hard for.
We’re proven pioneers with a hunger for doing and being the best we can, bringing customer-focused innovation and service excellence to the financial services industry.
We’re an undivided team of diverse thinkers and doers who believe in leading through technology and pushing past their limits.
TIH is a licensed controlling company.
