Manager: Product & Underwriting at Santam Insurance

Key Responsibilities

The candidate will be expected to perform (but not limited to) the following duties:

Product strategy:

• Strategic planning, product research and analysis, vision and roadmap, product execution, keeping abreast of trends and changing client needs
• Product strategic roadmap considerations, identifying and capitalising on Santam and Sanlam group synergies, product gap analysis, prioritisation and implementation of relevant product actions

Market Research and Trend Analysis:

• The process of gathering intelligence regarding specific products, attitudes, services, etc. and interpreting that information so business decisions can be made. Identify market trends that will impact on the relevant target market.
• Competitor research and analysis
• Documentation and presentation of data, reports, and insights to appropriate stakeholders. 

Product concept design and prototyping:

• Working with the Customer Value Proposiiton capability to define distribution channel definition, operational models consideration, impact analysis and solutions, claims models consideration, impact analysis and solutions
• Undertake product concept design, evaluation, and prototyping. 
• Conducting product feasibility assessments 
• Client needs research and analysis
• Drafting of technical product requirements
• Product elements aligned to product architecture, actuarial assumptions, predictive modelling, pricing and rating, underwriting for rules, pricing and underwriting standards, product training and marketing briefs

Product development:

• The development of new products (supporting the product managers throughout the product development lifecycle).
• Drafting of technical documentation associated with the product (including product specs and policy rules)
• Wording clause drafting, in conjunction with the Santam Underwriting teams

Product pricing:

• Building pricing models using rate tables and models to design leading products which meet the needs of the unique customer segments

Project planning:

• Ability to define the scope and objectives of an initiative, anticipate resource needs, and then arrange, prioritise and schedule activities to meet objectives.

Product implementation:

• Systems and product user-acceptance testing
• Product governance

Reporting and Administration:

• Conduct effective reporting and administration. The ability to access information from diverse sources and prepare reports.

Financial Acumen:

• Interpret and apply understanding of key financial indicators to make better business decisions
• Establish and maintain strong relationships with relevant internal and external stakeholders

Qualifications & Experience

• Relevant tertiary degree
• General insurance and/or actuarial related qualification ideal
• Strong technical experience (underwriting, actuarial or claims) (minimum 5 years)
• At least 10 years’ short-term insurance experience, with a strong technical insurance proficiency
• Personal and commercial lines product knowledge
• Strong experience in product implementation - preferable 
• Strong experience in product governance – preferable
• Experience working on policy administration systems (preferable)

Skills

• Finding innovative and practical solutions to complex challenges
• Analytical thinking
• Business acumen
• Research and data gathering
• Creating simplicity from complexity in a structured manner
• Strong attention to detail
• Proactive and results oriented
• Market research and trend analysis
• Identifying and capitalising on business potential
• Strategy implementation
• Best practice product innovation through robust development lifecycle
• Project management and strategic product planning
• Concept design and storytelling
• Development of technical product specifications
• Strong MS Office (Excel, Word, Power Point)
• Knowledge of underwriting practices
• Ability to translate business requirements into technical specifications
• Ability to articulate client needs in terms of product features 
• Basic project management and administration skills 

Competencies

• Business insight 
• Financial acumen 
• Organisational savvy 
• Decision quality 
• Collaboration
• Client focus
• Flexibility and adaptability
• Cultivates Innovation
• Strong communication skills
• Ability to manage stakeholder relationships
• Product strategy 
• Project planning
• Knowledge management