Portfolio Manager: Insurance

TFG (The Foschini Group); Wes-Kaap; On-site; ZAR 400,000 - 800,000; Full time

Job summary

A leading company in the retail sector is seeking a skilled Insurance Product Manager in South Africa. The role involves developing insurance strategies, managing teams, and ensuring compliance with financial regulations. Ideal candidates will have a Business Degree and extensive experience in the insurance landscape, aiming to deliver innovative product offerings that balance commercial objectives with customer satisfaction. Join a dynamic team and help to shape the future of the insurance portfolio at one of South Africa's top retail groups.

Qualifications

• At least 5 years relevant business and marketing experience in a managerial role.
• Knowledge of Insurance products and relevant legislation (e.g. FAIS, Insurance Acts).
• Ability to effectively apply financial and marketing knowledge.

Responsibilities

• Develop product strategies for insurance products like cell phone and jewellery insurance.
• Manage staff and external partners while ensuring compliance with legislation.
• Analyze market trends and implement growth strategies.

Skills

Analytical Processes

Claims Handling

Financial analysis

Insurance Principles and Practice

Data Collection and Analysis

Problem Solving

Education

A Business Degree or similar

Advance certificate in STI or LTI

Class of Business certificates in STI and LTI

RE5 & 1 Exams for Key Individual & Representatives

Job description

Key Responsibilities

JOB DESCRIPTION

• Continuously develop the Insurance product strategies with proven experience in developing, pricing, and managing short-term insurance products (e.g. cell phone insurance, jewellery insurance)
• Ability to identify market and performance trends and translate customer needs into innovative offerings for products, processes and distribution
• Strong financial acumen including understanding of insurance financial metrics (loss ratios, underwriting margins, claims ratios) and budget management, forecasting and profitability analysis of the insurance portfolio
• Strategic financial and marketing planning and implementation to execute growth strategies
• Ability to balance commercial objectives with excellent customer experience and long-term customer value
• Responsibility and accountability for external partner relationships
• Negotiation with relevant internal stakeholders at all levels within the organization with regards to strategies and store campaigns
• Conduct regular reviews of the market, customer and competitor offerings
• Setting up and monitoring sales, delivery and activation targets
• Managing staff related to the portfolio
• Maintain close collaboration with Legal and Compliance department to ensure all products and processes comply with the relevant legislation
• Responsibility for regulatory reporting (e.g. Conduct of Business Review) and other regulatory reporting requests
• Full knowledge of and compliance to all relevant legislation (STI, LTI, FAIS, NCA, CPA & POPI)
• Experience in building brands within financial services.
  
  

Qualifications And Experience

• A Business Degree or similar
• Advance certificate in STI or LTI (advantageous)
• To have completed Class of Business certificates in STI and LTI (advantageous)
• To have completed the RE5 & 1 Exams for Key Individual (KI) & Representatives (advantageous)
• To have met the requirement to be registered as a KI (advantageous)
• Ability to effectively apply financial and marketing knowledge to ensure growth of the portfolio
• At least 5 years relevant business and marketing experience in a managerial/leadership role
• 2 years’ experience in a supervisory role
• 2 years management experience managing a team of managers – [advantageous]
• Knowledge of Insurance products and relevant legislation (e.g. FAIS, Insurance Acts, POPI, etc.)
• Sound understanding & application of people management procedures [e.g. IR, coaching]
  
  

Skills

• Analytical Processes
• Analyse Alternatives and Recommend Solutions
• Builds Rapport
• Business Case Contribution
• Claims Handling
• Claims Management
• Claims Notification and Investigation
• Claims Settlement
• Data Collection and Analysis
• Data Control
• Financial analysis
• Financial Modelling
• In-Depth Questioning
• Information Management
• Insurance Principles and Practice
• Insurance Products and Services
• Knows the Buying Influences
• Manages Buyer Indifference
  
  

Behaviours

• Demonstrated knowledge of and skill in adaptability, decision making, interpersonal relations, problem solving, teamwork & written communication
• Comfortable and effective influencer.
• You need to be flexible as the environment is very dynamic and priorities can change.
• Sets ambitious goals and takes focused action to achieve desired outcomes to deliver measurable results
• Adapts effectively to situations that are complex, uncertain, or lack guidelines and clear information
• Interprets and simplifies complex and contradictory information when resolving organisational problems
• Interpreting and applying understanding of key financial indicators to make better business decisions.
• Assesses and improves the efficiency, effectiveness, and quality of various work processes
• Develops plans and prioritises initiatives that align to the organisational goals and objectives
• Effectively adjusts their behaviour, approach, and decision-making based on the situation
• Thinks and plans strategically, focusing on the long-term goals and objectives of the organisation
  
  

Preference will be given, but not limited to candidates from designated groups in terms of the Employment Equity Act.