Head: Underwriting Renasa at Telesure Investment Holdings (TIH)

Job Purpose

• Design, implement and manage a technical underwriting framework for Renasa that fosters superior risk selection, streamlined processing, loss ratio management and underwriting profitability. Setting of underwriting standards on a national basis as well as oversee the evaluation/ acceptance of risks within the company’s underwriting appetite. Oversee facultative reinsurance process, surveying processes and standards and manage Technical Underwriting procedures and processes and all system design requirements, relating to the underwriting of all business on Nimbis and Third-Party underwriting systems. Ensure sufficient and accurate reporting to be used in portfolio management

Responsibilities

Leadership and Direction

• Set and communicate the strategy for achieving the organisation's mission, vision and values within a function, together with the broad actions needed to implement it; inspire a large or diverse workforce to commit to these and to doing extraordinary things to achieve the organisation's business goals.

Underwriting

• Make authoritative decisions about technical or professional underwriting and business enhancement solutions that would significantly improve business performance. Introduce underwriting rules on the acceptance of business.

System Management and Development

• Management and development of underwriting systems to deliver pre-set outcomes for commercial and personal lines areas of responsibility.

Insights and Reporting

• Manage and develop the execution of complex reports, identifying and interpreting complex 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.

Monitor implementation of remedial measures.

• Prepare and contribute effectively to forums and committees where represented. Reporting on the effectiveness of all third-party broker systems utilised by the organisation and in line with strategic objectives.

Operations Management

• Support the overall organisational strategy by managing, developing and delivering operational plans and outcomes for the business.

Underwriting Policy Development & Implementation

• Develop underwriting frameworks for the underwriting department. Take responsibility for 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

• Ensure that business activities within the area of responsibility comply with relevant external regulatory codes and with internal policies and procedures to minimise business risk and to protect the reputation of the organisation. Develop, manage and maintain business rules around when audits are required and adhere to underwriting guidelines and standards by managing audits.

Stakeholder Engagement

• Identify and manage stakeholders up to top management level, finding out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.

Organisational Capability Building

• Evaluate the capabilities of staff within the department to identify gaps and prioritise development activities. Implement the organisation's formal development frameworks within the area of responsibility. Coach and mentor others to support the development of the organisation's talent pool.

Strategic Planning

• Take responsibility for developing and delivering the strategic planning approach for a key part of the organisation.

Budgeting and Costing

• Take responsibility for setting and managing area budgets so they align with organisational strategy.

Personal Capability Building

• Act as subject matter expert in an area of technology, policy, regulation, or operational management for the team and beyond in the function. Maintain external accreditations and in-depth understanding of current and emerging technologies, external regulation, and industry best practices through continuing professional development, attending conferences, and reading specialist media.

Education

• Grade 12/ SAQA Accredited Equivalent (Essential); RE 1 and FAIS recognised qualification (Advantageous); Diploma in Insurance or equivalent (Advantageous)  (Required)

Experience

• 8 or more years' in short-term insurance (mainly in commercial lines) (Essential); Short-term insurance underwriting on third-party systems (Essential); 5-8 years senior management experience (Essential