Career Openings at Bryte Insurance Company Limited

Requirements

Key Tasks & Accountabilities

• Produce a Business Plan that reflects market opportunities for the area of responsibility.
• Produce a Sales Plan that demonstrates how to identify, develop, and manage prospects.
• Underwrite and accept risks within a delegated authority to achieve the effective implementation of new business.
• Grow and retain the BSM sales target to ensure the GWP and profitability targets are met.
• Target new broker partners with a view to increasing market share whilst maintaining profitability within the desired loss ratio targets.
• Track productivity levels in the required format
• Deliver and enhance the highest level of client satisfaction by working with our broker partners to map and determine their business needs in delivering superior client service.
• Strategically analyse the broker partner’s business plan and develop future business opportunities.
• Develop the broker panel whereby the Business Development Growth targets are achieved through relationship management.
• Ensure that all technical and operational underwriting standards, procedures, and controls are complied with.
• Implement agreed underwriting measures to attain targeted loss ratios and rates.
• Ensure alignment with the BSM Sales Plan

Stakeholder Management

• BSM Operations
• Regional Managers
• Core business functions within Bryte.
• Wider Bryte Insurance Group stakeholders
• Brokers

Qualifications and Experience

• Graduate or equivalent with minimum 5 years short term insurance industry experience
• Sound experience in Sales with a strong presence and footprint in the Broker community.
• FAIS compliant

Knowledge

• Sound understanding and knowledge of South African Insurance market experience within Sales.
• Sound knowledge of statutory and legislative requirements
• Maintain up to date knowledge of local markets and industry sectors.
• Sound knowledge of Bryte Specialist Motor, its business strategy, and objectives

go to method of application »

Key Tasks and Accountabilities

Business Accountabilities

General

• Provide actuarial services with minimal supervision.
• Coordinate work tasks.
• Provide guidance to members of the team.
• Perform more complex analyses.
• Demonstrate increasing knowledge of relevant actuarial disciplines and procedures to be able to provide first class service to internal customers.
• Actively pursue actuarial qualification and demonstrate consistent progress toward designation.

Reserving specific

• Under general direction, support reserving, reinsurance analysis, or market-facing business units in support of business objectives, and annual IFRS audit. 
• With appropriate review and guidance from Management coordinate, prepare, and perform actuarial analyses including and premium projections, consultation on actuarial models, and risk-based capital issues.
• Support finance, market-facing business units, claims, risk, capital management, and other functions on reserving, and strategic business decisions.

Capital specific.

• Under general direction, support capital modelling, data quality, regulatory returns, and audits.
• With appropriate review and guidance from Manager, coordinate, prepare and perform actuarial analyses including collection of information from various stakeholders across the business.
• Business Support specific
• Support actuarial services related to Risk Based Capital model development, parameterisation, and allocation activities.
• Perform data analytics and/or reinsurance analysis.

Relationships

Internal

• Actuarial business partners
• Underwriting
• Claims
• Finance (FAR and PPM)
• Senior management/executives

External

• Head Actuarial Function
• Auditors (external and internal)
• Underwriting management agency (UMA) partners
• Network of contacts within the actuarial profession

Qualification & Experience

• University degree in actuarial science, statistics, mathematics, or a related field.
• Good progress with exams, displaying strong technical knowledge.
• Three to seven years of experience in an actuarial environment.
• Self-motivation and drive.
• Professional, enthusiastic, and positive attitude.
• Able to meet deadlines and work under pressure.

Knowledge

• Strong knowledge of actuarial professional guidance and relevant legislation.
• Strong knowledge of finance and accounting practices, financial analysis, and reporting; ability to apply this knowledge appropriately to diverse situations.
• Strong knowledge of the insurance industry's trends, directions, major issues, regulatory considerations, and trendsetters.
• Strong knowledge, insight, and understanding of business concepts, tools, and processes that are needed for making sound decisions in the context of the company's business; ability to apply this knowledge appropriately to diverse situations.
• Strong knowledge of practices and policies governing disclosure of information about the organization, its business activities, and employees; ability to apply this knowledge appropriately to diverse situations.

go to method of application »

Requirements

Key Tasks and Accountabilities

• Pricing of existing and potential new lines of business of Bryte’s short term insurance offerings including Commercial Lines, Personal Lines, Marine, Engineering and Hospitality.
• Manage and lead the pricing team, consisting of approximately 10 people.
• Managing various stakeholders across the business, including Broker Distribution and Underwriting, to ensure that Bryte meets its ongoing financial targets.
• Analyse portfolio results on an ongoing basis to guide pricing decisions and inform alternative courses of action, where necessary to achieve the business goals.
• Develop and/or co-develop the required pricing best practice, including systems design and procedures to achieve business goals. Assist in the required implementation of systems and tools as needed.
• Overall responsibility for pricing tools used by Bryte, including contracting, budgeting, implementation, and alignment to best practices.
• Translate organisation plans into implementable pricing bases and risk management strategies. Ensure that process and standards are consistent with other Bryte Actuarial units and governance policies.
• Predict the outcome of alternative courses of action with reasonable accuracy using statistical techniques, design criteria and required specifications.
• Lead complex pricing assignments and projects that require high levels or integration across various business units.
• Provide actuarial support and advice to the business including insights into underlying performance.
• Create and maintain business reports to monitor the profitability and identify market opportunities.
• Support and participate in Profitability Review and Performance Assessment discussions.
• Support Reserving, Finance, market-facing business units, Broker Distribution, Claims, Risk, Capital Management, and other functions on pricing, and strategic business decisions as required.
• Assist in managing the flow and quality of data.

Business Support Specific

• Translate Income statement deviations from targets into underwriting and pricing actions.
• Play a thought leadership role in data and analytics within Bryte and help drive pricing initiatives into general underwriting processes.
• Provide price and renewal strength monitoring against targets.
• Help translate capital charges and reinsurance cost into pricing processes.
• Do research and provide consultation on Business Unit level on pricing and underwriting decision taking.
• Participate in analyses related to Mergers & Acquisitions and/or special projects that are outside of normal business as usual or geographic responsibilities.

Relationships

Internal

• Business partners
• IT and Data Management
• Underwriting
• Claims
• Finance
• Risk Management
• Sales and Distribution

External

• Consultants and software providers
• Bryte Insurance Partners
• Network of contacts within the actuarial profession
• Participation in professional/ industry groups/ working parties.

Qualifications & Experience

• Minimum NQF Level 7, i.e. University degree in Actuarial Science or a related field.
• Qualified FASSA designation of the Actuarial Society of South Africa or an international equivalent will be given preference.
• Minimum five years’ short term insurance pricing experience, including modelling and deployment.
• Experience of providing actuarial advice to senior management
• Underwriting and portfolio management experience with market practice acumen
• 5 or more years general management experience
• Experience in project management and past exposure to large IT development projects.

Behaviors

• Demonstrate ability to collaborate effectively across functions and influence outside of own function.
• Exhibits self-motivation and drive; takes initiative without the need for approval.
• Professional, enthusiastic, and positive attitude.
• Demonstrate a proactive mindset to help drive business and profitability initiatives.
• Able to meet deadlines and work under pressure.
• Ability to manage a team of people to achieve the required performance outcomes.