Underwriter: Cyber Risk (SHA) at Santam Insurance

SHA’s core business is to underwrite specialist insurance products. Together with technical underwriting skills, this role also requires knowledge of information technology and the cyber threat landscape, and the ability to identify markets and industry sectors suited to the respective insurance covers.

What will make you successful in this role?

Underwriting

• Underwrite and manage a portfolio of existing and new business, including all tasks associated therewith but not limited to Underwriting Governance which includes detailed risk evaluation and assessment, coverage and exposure analysis, pricing determination, detailed claims analysis (understanding loss ratios and claim trends) and wording review & negotiations within underwriting authority.
• Refer and acquire sign-off relating to matters falling outside of own authority, in accordance with authority matrix/ local authority
• Adherence at all times to the authority matrix, departmental protocols and procedures, including Underwriting Governance provisions.
• Detailed explanations regarding changes with respect to terms/ underwriting stance.
• Drafting & amending wordings/ clauses, and escalate concerns/ enhancements to technical team.

Marketing / Relationship Building

Stimulate sales activity by educating brokers:

• about PI tech and cyber risk exposure
• about risk mitigation
• about incident response and the role of the insurance product
• the difference between the cyber insurance and PI tech product
• Maintaining SHA’s relationships with designated external service providers in the technology and cyber risk management and mitigation sectors
• Conducting regular visits and calls to the PI Tech and cyber insurance teams at global and national brokers.
• Maintaining SHA’s relationship with global cyber reinsurance partners.

Client Liaison (Internal and External)

• Working with teams of underwriters in the greater SHA business to identify growth and new business opportunities
• Attending client meetings to discuss cyber risk exposure with business owners, executives and information security officers/representatives.
• Growing SHA’s market share of the PI Tech and cyber insurance market

General Administration

• Produce reports to monitor new business and risk management initiatives
• Provide regular feedback to SHA executives
• Attend to daily administrative routine tasks and internal capturing system in accordance with organisational standards, processes and procedures.

Financial

• Meet budget responsibility for a book of business.
• Monitor renewals, lapsed policies and new business with monthly report back.

Qualification and Experience

• Appropriate tertiary qualification – Bcom, Insurance, Finance, Technology or Legal related. 
• Accredited coursework with a focus on information technology, computer science or cyber security a preference
• FAIS compliant 
• Minimum 3 years’ experience in broking or underwriting in the cyber or information security environment
• Legal experience in Insurance, Cyber Security, Privacy or Technology law

Skills

• Systemic Thinking
• Up to date understanding of cyber threats and risks
• Self starting
• Results driven
• Integrity
• Analysis and Judgement
• Attention to Detail
• Client Orientation 
• Communication Skills with an ability to negotiate
• Initiative
• Teamwork
• Time Management and working under significant pressure