Open Roles at Sasria

Job Advert Summary

• The Technical Underwriter will perform technical underwriting tasks and participate in the implementation of underwriting terms and conditions for policy holders and implementation of rules and regulations for our distribution channel.

Minimum Requirements
Minimum Qualifications:

• Higher Certificate in Short-term Insurance
• RE 5
• Advantageous Tertiary qualification (Bcom degree or similar)

Minimum Experience:

• 5 – 7 years’ experience in Short term Insurance – Technical underwriting (commercial and or corporate). Portfolio management advantageous

*Please note that preference will be given to people with disabilities.

Duties and Responsibilities 

Strategic Alignment

• Contribute towards the development of the company’s strategic plans.
• Contribute in the development and drive of the divisional strategy.
• Participate in Updating of policy wordings and regulations.
• Conduct market analysis in order to analyse industry needs and contribute towards the enhancement of existing products.
• Implement departmental policies and procedures

Rate development

• Partner with Actuarial function on pricing for new products, analysis of risk, to ensure that products are priced correctly.
• Analyse claims and premiums trends which provide input into underwriting pricing and risk.

Underwriting function

• Review terms and conditions of products annually to ensure they remain relevant and up to date.
• Conducting GAP analyses of our rules and regulations to ensure they remain relevant and up to date.
• Handle queries and provide technical assistance to our brokers and Agents through visits.
• Review rates annually, ensuring competitiveness and viability of the product.
• Conduct research on possible new products and enhancement to existing products.
• Continuously review product information on our website to ensure remains up to date and relevant.
• Monitor and report on the loss ratio movement per class of business.
• Monitor and apply corrective measures on multi claimants.
• Participate in monthly operations reporting on financial and operations.

Training function

• Provide education through various platforms on Sasria products to clients/agents, ensuring basic understanding of Sasria’s role in the market.
• Review and compiling of training material (manuals & presentations).
• Conduct national road shows on Sasria products.
• Continuously review product information to ensure its relevance.
• Dissemination of product information to the market.

Risk Management

• Identifying Risks and Emerging Risks.
• Establish required controls to mitigate operational risks.

Financial

• Contribute in compiling budgetary requirements.
• Control the departmental budget ensuring expenditure remains within the set parameters.
• Perform any reasonable tasks as and when required by the Line Manager.

 Perform ad hoc tasks

• Perform any reasonable tasks as and when required by the Line Manager.

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Job Advert Summary

• The Head of Business Intelligence plays a key role in ensuring that Sasria is, at all times, fully apprised of the external risks that could impact the underwriting profit and solvency of the business.
• The Head of Business Intelligence is responsible for all business intelligence activities within Sasria.
• This would include being responsible for the identification and monitoring of key underwriting risk metrics, management of probable maximum loss studies, data management and analysis to allow for business decision making and, undertaking research to develop Sasria’s intelligence regarding critical and emerging underwriting risks.
• Research will include other risks that may be of national interest and not covered by Sasria or the private sector.
• The Head of Business Intelligence will be leading a team which will provide data analytics and research to all areas of the business.

Minimum Requirements
Minimum Qualifications:

• Master’s degree (focus on risk management preferable)

Minimum Experience:

• Minimum of 8 years’ experience with 5 years’ experience in a similar position

Please note that preference will be given to people with disabilities.

Duties and Responsibilities  

Operational Delivery:

Underwriting risk profile intelligence

• Identify, track and report on the key risks affecting Sasria’s underwriting risk profile.
• Lead team and/or work with suitable industry experts (such as consultants, academics, NGOs, international counterparts, etc) to perform research and analysis to identify economic, political, socio-economic, legal and other risk metrics.
• Maintain a database of events that may/do give rise to claims under Sasria’s defined perils. This includes working with other departments (such as underwriting and claims) as well as suitable external parties (eg SAPS, NGO’s, social media companies) to develop intelligence to identify and profile events.

Probable Maximum Loss (PML) studies

• Develop, maintain and manage Sasria’s PML studies in conjunction with appointed consultant.
• Work with suitable industry experts (such as consultants, academics, NGOs, international counterparts, etc) to perform PML studies for the purpose of Sasria’s reinsurance and capital optimization strategies.
• Provide a report on the PML study use by internal (actuarial, underwriting, reinsurance, etc) and external stakeholders (reinsurance broker, reinsurers, regulator, etc)

Risk Mitigation

• Work with stakeholders in Sasria, including Underwriting, Claims and SMD, to identify “hot-spots” for Sasria’s underwriting risk exposure and to develop practical risk mitigation strategies to reduce the incidence of loss events and/or minimize severity from loss events.
• Examples include the identification of high-risk transit routes along the SA road network; locations within the country that consistently “flare up” following specified events (eg local government elections, university/school registration, etc).

Risk Analytics

• Assist the broader business with reports and analytics, as may be required from time to time.
• Examples may include the development of models to validate claims against a register of potential loss events, identification of multi-claimants, fraud analytics, etc.

Research

• Responsible for root cause analysis in the case of catastrophe events.
• Be a thought leader on areas of National Interest, particularly those areas that are uninsured.
• Doing scientific research in communities in South Africa to better understand the triggers of perils covered by Sasria.
• Work closely with NGOs, other research institutions and international counterparts.

Data Collection and Management

• Work closely with IT and BCT to ensure that suitable technological and data management solutions are in place to support Sasria’s current and future data and analytics needs.

Other

• Support actuarial and underwriting department with technical pricing, product developments and product enhancements, as required.
• Support the integrated reporting cycle on an annual basis.

Business focused collaboration:

• Contribute to the successful achievement of Sasria’s vision, strategy and business plan, by assisting with the resolution of problems that pose a threat to the Company of not achieving its vision, strategy and business plan.
• Responsible for considering key risks and broad based solutions for a number of key projects / issues within Sasria.

Strategic Involvement:

• Contribute to the creation the Sasria’s long term strategy and short term business plan.
• Shaping Sasria’s risk culture by ‘setting the tone from the top’ not only through words but actions and reinforcing commitment.

 People Focus:

• Managing own career by being accountable for one’s behavior, performance and development.
• Managing individual and team performance to achieve individual and organization goals and objectives.
• Developing a skilled team capable of assisting Sasria with the achievement of its objectives.