Senior Portfolio Manager: Outsourced Business at Santam Insurance

Career Opportunity

• This career opportunity is available at Santam Broker Solutions: Outsourced Business (reporting into the Portfolio Administration & National Brokers business unit; (“PA & NB and National Brokers”)) for the Senior Portfolio Manager, who will be based in Hill on Empire.

Primary Accountabilities:

• Identify, prospect, and secure new strategic binder partnerships and new Administrator binder partnerships for our Outsourced Business. Conduct comprehensive market research to understand potential new partnership opportunities within the short-term insurance sector.
• Develop and maintain a robust pipeline of qualified leads through various channels including networking, cold outreach, industry events, and referrals.
• Develop, implement and refine a strategy to grow our Administrator Business in PA & National Brokers that aligns with Santam’s growth objectives.
• Grow and manage selected existing Administrator Portfolios.
• Set and achieve ambitious targets for new partner acquisition and associated premium growth.
• Monitor industry trends, competitor activities, and regulatory changes to identify new opportunities and potential threats.
• Support the overall program for the CPM Migration Project during migration and conversion being a champion in resolving and supporting the business with through trouble shooting of key issues that impact the entire CPM Channel.
• Support Outsourced Business in implementing best practices.

New Strategic Binder Opportunities

• Identify, prospect, and secure new strategic binder partnerships for our Outsourced Business.

What will you do?

Administrator Binder Business Channel

• Identify, prospect and secure new Administrator Binder opportunities.
• Ensure the achievement of ambitious growth target within the Personal and Commercial Lines Administrator business.
• Oversee and continuously evaluate the performance of the Administrator Binder channel to ensure delivery of target underwriting profit and portfolio growth. Implement efficient business processes to enhance customer service, control national expense ratios, and optimize overall spend.
• Drive the optimisation of sales and underwriting-related activities across the Administrator Distribution channel by building a robust sales and underwriting strategy and executing all these activities.
• Maximize retention of desirable clients.
• Develop and implement retention plans per Administrator Binder holder portfolio aligned with Santam OB segmentation model as far as possible (renewal process, cancellations, new business).
• Develop competition and market intelligence.
• Ensure monthly exchange of data to monitor growth and profitability.
• Procurement - align with Santam model to ensure cost savings.
• Analyse data and regularly ensure that rating structures are updated and aligned with risk.
• Retention strategy aligned with the OB segmentation model.
• Renewal process aligned with Santam segmentation model.
• Data analysis and Client Lifetime Value as per the Centre of Expertise planning.
• Enable Administrator Binders to offer and deliver client centric risk management solutions to our target market.
• Implementation of Data share (electronic data transfer).
• Knowledge of Administrator value chain: Procurement, Salvage & Recoveries, Assessors.
• Understanding Administrator client base (segment) and relation to other lines of business.
• Ensure alignment of Claims, Finance & Underwriting processes internally and with Santam.
• Monitor the application of best practice

CPM Conversion and Migration

• Co-ordinating role of CPM Migration roll-out processes as a champion for Outsourced Business, particularly relating to trouble shooting in the Migration and Conversion Process in relation to Finance, Underwriting, Finance and Claims to ensure alignment in for both front and back-end process for Broker Services Regions and National Brokers.

Outsourced Business Support in best practice management

• Support Executive Head: PA & National Brokers in mapping, analysing, and optimising process flows at our Binders and between our Binders and Santam; specifically in enhancing controls, efficiency, effectiveness, and compliance of insurance administration processes. This will involve driving governance, operational excellence, mitigating risks, supporting a seamless deliver of insurance services
• Limited business support to Executive Head: PA & National Brokers to ensure the smooth and efficient day-to-day operations of Outsourced Business, allowing our other National Account Managers to focus on core activities of their Binder portfolios

What will make you successful in this role?

• This role requires a highly driven and results-oriented individual with a deep understanding of the insurance landscape, excellent networking abilities, and a proven track record in business development and closing deals.
• Facilitate Administrator compliance with all regulatory requirements.
• Improve core process efficiency and capability.
• Drive with the support of Risk Services the implementation of electronic pricing tools.
• Minimise claims leakage through effective benchmarking and implementation of best practice processes with all business partners: outstanding estimates; estimation and claims philosophy; salvage and recoveries, assessor’s fees; Drive in Centres, procurement, ensure alignment between policy wording and bank of endorsements, monitor double payments and unallocated cash.
• Monthly reporting and data analysis (Focus on deviations and negotiation and implementation of corrective actions).
• Management of Centre of Expertise and Administrator relationship and processes.
• Monthly meetings between Santam and Administrator binder holder.
• Liaise in review of policy wordings, rating structures and underwriting criteria.
• Co-ordinate product development structure and manage the operational implementation of solutions and deal with change management.
• Management and monitoring of agreed mandates/processes Administrator binder holder in terms of; Strategy, Finance, Claims processes and settlements, Underwriting, Systems, Quality assurance, Training and development, Claims bordereaux (double payments and unallocated cash), Audits and implementation of audit findings, Claims process, Underwriting and finance process.
• Identify customer needs and drive opportunities in line with Santam OB business strategy.
• Account Management - Together with the Administrator binder holder, drive the development and execution of business plan.
• Agree on shared objectives and targets and drive mutual sustainable growth.
• Relationship Management - Drive improved understanding of the customer and overall business (marketplace, channel, consumer, competitive environment, strategy, productivity, profitability and the across value chain).

Qualification and Experience

• Bachelor's degree in Business Administration, Operations Management, Finance, Insurance, or a related field
• At least 5 - 7 years Outsourced Business experience
• 10 years experience in Short Term Insurance
• Experience across Personal and Commercial Lines
• Proven track record of understanding governance, designing, implementing, and monitoring effective internal controls.
• Experience with claims negotiation and support
• Financial and Process Management experience across the value chain

Knowledge and Skills

• Customer Service and Management.
• Regulatory & Compliance.
• Business processes.
• Marketing and Sales Knowledge.
• Reporting and Administration.
• People Management.
• Strong analytical skills.
• Strong networking and stakeholder management skills.
• Strong communication and relationship building skills.
• Attention to detail.
• Initiative: Self-motivated and proactive in driving process improvements and ensuring control effectiveness.
• Adaptability: Flexible and able to adapt to changing priorities and a dynamic regulatory environment.
• Problem-Solving: Proactive in identifying and resolving operational issues and control deficiencies.
• Excellent English communication & writing skills.
• Strong relationship, negotiating and networking skills.
• Ability to influence.

Personal Attributes

• Drives results.
• Deciding and initiating action.
• Leading and supervising.
• Collaborates.
• Client focus.
• Flexibility and adaptability.
• Cultivates innovation.
• Strategic decision making.
• Analytical thinking
• Influencing/ gaining commitment.
• Business acumen.
• Coaching and development.