Business Owner: Insurance

Talent Candey; Wes-Kaap; Presencial; ZAR 1 200 000 - 1 800 000; Tempo integral

Resumo da oferta

Talent Candey is seeking an experienced Business Owner: Insurance in Cape Town to lead the insurance strategy, product development and distribution across banking channels.

The role requires 8–10 years in bancassurance or embedded insurance, with strong P&L ownership, pricing, and regulatory governance knowledge.

Qualificações

• Bachelor's degree in commerce, insurance, risk management or related field.
• Insurance qualification and FAIS-related credentials are advantageous.
• RE5 qualification is advantageous.
• Experience in bancassurance, embedded insurance or insurance product management.
• Previous banking experience is essential.

Responsabilidades

• Develop and execute the bank's insurance business strategy and product roadmaps.
• Own insurance product portfolio, pricing, P&L and profitability targets.
• Define distribution requirements across digital, retail, call centre and direct sales.
• Collaborate with risk, finance, underwriters and compliance for governance.
• Monitor performance, identify improvements and report to leadership.
• Manage relationships with underwriters, cell captives and partners.

Formação académica

Bachelor's Degree in Commerce

Insurance qualification

RE5 advantageous

FAIS knowledge advantageous

Bancassurance experience

Descrição da oferta de emprego

Business Owner: Insurance - Cape Town

Our Banking Client is currently looking for an experienced Business Owner: Insurance based in Cape Town.

Key Responsibilities

Insurance Strategy & Commercial Ownership

• Develop and execute the Bank's insurance business strategy.
• Take ownership of the insurance product portfolio and associated profit and loss (P&L).
• Establish commercial targets covering premium income, claims costs, commission income, fees and distribution costs.
• Identify opportunities to grow insurance penetration across the Bank's customer base.
• Develop product roadmaps, target market strategies and growth initiatives.
• Monitor financial performance and implement improvements to profitability.

Insurance Product Development & Management

• Design, develop and manage insurance products, including funeral, device and asset protection insurance.
• Identify customer needs and translate them into commercially viable insurance products.
• Work with Insurance Risk, Finance and underwriters to establish appropriate pricing and commercial terms.
• Monitor product performance, claims experience, loss ratios and customer satisfaction.
• Recommend product improvements, pricing adjustments and new insurance opportunities.
• Ensure insurance products deliver fair value and appropriate customer outcomes.

Insurance Partner & Underwriter Management

• Manage the commercial relationship with the Group's licensed insurance entity, Abacus.
• Build and maintain relationships with third-party underwriters and cell captive partners where applicable.
• Negotiate commercial terms, service-level agreements and product arrangements.
• Coordinate product changes and regulatory requirements with relevant stakeholders.
• Manage the legal, compliance and insurance partner interface relating to credit life insurance.

Distribution & Channel Development

• Define insurance distribution requirements across digital banking, retail stores, contact centres and direct sales channels.
• Work with IT and Operations to implement insurance products across the Bank's channels.
• Collaborate with Marketing and Sales to improve product awareness and customer uptake.
• Identify opportunities to embed insurance products into banking customer journeys.
• Develop product training and sales enablement requirements for frontline teams.
• Ensure distribution practices comply with Treating Customers Fairly (TCF) principles.

Regulatory Compliance & Product Governance

• Ensure insurance products and distribution practices align with applicable regulatory requirements.
• Work closely with Compliance, Legal and Insurance Risk on product governance.
• Support compliance with FAIS, FSCA requirements, the Insurance Act and Policyholder Protection Rules.
• Coordinate product responsibility and fair value assessments.
• Monitor customer complaints and identify opportunities to improve product outcomes.
• Maintain appropriate governance documentation and reporting.

Performance Reporting & Stakeholder Management

• Prepare regular reports on insurance sales, profitability, claims costs, penetration and customer sentiment.
• Monitor partner service levels and product performance.
• Present commercial results and recommendations to the Chief Product Officer and executive committees.
• Work collaboratively with Product, Operations, IT, Finance, Risk, Legal and Compliance.
• Drive continuous improvement and support the future development of the insurance function.

Minimum Requirements

• Bachelor's Degree in Commerce, Insurance, Risk Management, Actuarial Science or a related field.
• Insurance qualification and/or FAIS-recognised qualification advantageous.
• RE5 advantageous.
• Minimum 8–10 years' experience in bancassurance, embedded insurance or insurance product management.
• Previous banking experience essential.
• Proven insurance product development and commercial management experience.
• Demonstrated insurance product P&L ownership.
• Experience managing relationships with underwriters, cell captive arrangements or in‑group insurance entities.
• Experience designing and distributing funeral, credit life, asset protection or similar insurance products through banking channels.
• Strong understanding of insurance pricing, underwriting and claims concepts.
• Knowledge of applicable insurance legislation and financial services regulatory requirements.
• Strong commercial negotiation, stakeholder management and reporting skills.

Essential Experience

• Applicants must demonstrate proven experience in:
• Bancassurance / embedded insurance.
• Insurance product strategy and development.
• Insurance portfolio P&L ownership.
• Underwriter and insurance partner management.
• Commercial negotiation.
• Product pricing and profitability.
• Insurance distribution through banking channels.
• Insurance regulatory and governance requirements.
• Cross‑functional product implementation.
• Senior stakeholder and executive reporting.

Key Competencies

• Strong commercial and strategic thinking.
• Hands‑on product ownership.
• Entrepreneurial and builder mentality.
• Excellent negotiation skills.
• Strong analytical and financial acumen.
• Ability to work independently.
• Proactive problem‑solving and initiative.
• Customer‑focused decision‑making.
• Strong communication and stakeholder management.
• Adaptability in a growing banking environment.

Please take note: if you have not been contacted within 14 days, please consider your application unsuccessful.