Business Owner Insurance- Cape Rown

Prosperity Placements; Cape Town; On-site; ZAR 1,200,000 - 1,800,000; Full time

Job summary

Prosperity Placements in Cape Town seeks an experienced Business Owner: Insurance to take end-to-end commercial ownership of the organisation's insurance and bancassurance product portfolio, including funeral, device, asset protection, and other embedded products distributed through banking channels.

You will own the product P&L, shape the strategy, manage underwriter relationships, ensure FSCA licensing and FAIS obligations, and coordinate with Compliance, Legal, Risk, and Finance to embed

Qualifications

• Bachelor's degree in Commerce, Insurance, Risk Management, Actuarial Science or related field.
• Recognised insurance qualification advantageous.
• 810 years experience in bancassurance, embedded insurance, or insurance product management.
• Proven experience managing underwriter or cell captive relationships.
• Experience designing and distributing credit life, funeral, or asset protection products.
• P&L ownership experience for an insurance or comparable financial product line.

Responsibilities

• Own the insurance product P&L, setting and delivering annual commercial targets.
• Develop and execute the insurance business strategy, including product roadmap and growth initiatives.
• Design and maintain the insurance product suite in partnership with underwriters and insurance risk teams.
• Manage relationships with the groups licensed insurance entity and third-party underwriters.
• Coordinate with Compliance and Legal on FSCA licensing, FAIS, and Insurance Act obligations.
• Define distribution requirements across channels and embed insurance offers into customer journeys.
• Track claims experience, loss ratios, and customer sentiment to drive continuous improvement.
• Prepare performance reporting for Exco and product committees.
• Build and lead a small team as the portfolio scales.

Skills

P&L ownership

Commercial acumen

Negotiation

Relationship management

Regulatory awareness

Cross-functional collaboration

Clear communication

Education

Bachelor's degree in Commerce/Insurance/Risk Management/Actuarial Science

Insurance qualification advantageous

Job description

Business Owner: Insurance

Cape Town, South Africa

We are seeking an experienced Business Owner: Insurance to take end-to-end commercial ownership of the organisations insurance and bancassurance product portfolio. This role is responsible for defining, developing, and driving the performance of funeral, device, asset protection, and other embedded insurance products distributed through banking channels.

Key Responsibilities:

Own the insurance product P&L, setting and delivering annual commercial targets.

Develop and execute the insurance business strategy, including product roadmap and growth initiatives.

Design and maintain the insurance product suite in partnership with underwriters and insurance risk teams.

Manage relationships with the groups licensed insurance entity and third-party underwriters.

Coordinate with Compliance and Legal on FSCA licensing, FAIS, and Insurance Act obligations.

Define distribution requirements across channels and embed insurance offers into customer journeys.

Track claims experience, loss ratios, and customer sentiment to drive continuous improvement.

Prepare performance reporting for Exco and product committees.

Build and lead a small team as the portfolio scales.

Requirements:

Bachelors degree in Commerce, Insurance, Risk Management, Actuarial Science, or related field.

Recognised insurance qualification (e.g. Associate/Fellow of the Insurance Institute of South Africa) advantageous.

810 years experience in bancassurance, embedded insurance, or insurance product management.

Proven experience managing underwriter or cell captive relationships.

Experience designing and distributing credit life, funeral, or asset protection products.

P&L ownership experience for an insurance or comparable financial product line.

Key Competencies:

Commercial acumen balanced with customer-centricity.

Strong negotiation and relationship management skills.

Regulatory and product-governance awareness.

Clear communication to Exco and governance forums.

Collaborative cross-functional working with Operations, IT, Risk, Compliance, Legal, and Finance.

Adaptability to a scaling, evolving product portfolio.

Qualifying Questions:

Do you have at least 810 years experience in bancassurance, embedded insurance, or insurance product management within banking or insurance?

Have you managed relationships with underwriters, cell captives, or in-group insurance entities, including commercial negotiation?

Do you have proven experience owning the P&L for an insurance or comparable financial product line?