Territorial Lead

Santam Insurance; Cape Town; On-site; ZAR 800 000 - 1 000 000; Full time

Job summary

A leading reinsurance provider in Cape Town is seeking a Territorial Lead to manage reinsurance underwriting and drive profitability. The role involves developing client relationships, leading a team, and ensuring compliance with guidelines. Ideal candidates have 5-6 years' experience in Short-Term Insurance and an undergraduate degree in a related field. Strong analytical skills and proficiency in Microsoft Office are essential. Competitive salary and potential for relocation support included.

Qualifications

• 5-6 years' experience in the Short-Term Insurance industry, preferably in reinsurance.
• 2-3 years' experience leading or managing a team.
• Postgraduate qualification will be advantageous.

Responsibilities

• Develop and maintain a profitable reinsurance treaty book.
• Drive profitability and growth in territory according to annual targets.
• Manage the underwriting process and portfolio queries.

Skills

Client focus

Drives results

Flexibility and adaptability

Organisational savvy

Negotiation

Analytical

Education

Undergraduate Degree (preferably in scientific, engineering or numerate discipline)

Tools

Microsoft Excel

Microsoft Word

Microsoft PowerPoint

Job description

Santam Re is hiring 3 (three) Territorial Leads.

The Territorial Lead reports to the Cluster Market Head.

Applicants must be based in Cape Town, South Africa, or be prepared to relocate.

The role also requires some travel.

WHO ARE WE

Santam Re, based in Cape Town South Africa and operating globally, presents a company culture that is committed to fostering genuine connections with people.

With over years of experience, Santam is Africa's leading general insurance company with a market share exceeding 24% in South Africa.

Our reinsurance business, Santam Re leads with a culture and work environment that truly provides meaningful opportunities for personal and professional growth.

Profitable growth is key to Santam Re's success and is the reason we are intent on further strengthening our actuarial and underwriting expertise which are at the core of our business model.

We have built our reputation on being strong in technical analysis, on being able to grasp the nuances of emerging markets, high quality service delivery and in the provision of optimal portfolios that respond to the needs of our brokers and cedents, today and for the future.

WHAT WILL YOU DO?

This role is responsible for the reinsurance underwriting in the chosen territory of Santam Re to drive the strategic agenda of profitable growth of Santam Re.

This will include both treaty and facultative reinsurance within defined underwriting mandates, whereby the incumbent will be required to develop a book of business internationally.

This dynamic role requires a passionate, energetic individual to handle reinsurance pricing activities, tools management and portfolio steering to manage exposure, profitability and growth.

WHAT WILL MAKE YOU SUCCESSFUL IN THE ROLE?

• Develop, lead, and maintain a profitable reinsurance treaty book in the chosen territory - this is both a client facing role.
• Profitability & Growth – drive profitability and growth in territory according to annual targets set and according to annual premium volume, profitability and volatility benchmarks.
• Driving profitability of the book (ensuring a 5% margin)
• Analysing of BI Statistics and propose actions to correct profitability where required
• Marketing and business development (ensuring growth)
• Building and maintaining reinsurance broker and cedant relationships for both existing business and potential business, both locally and globally.
• Managing the portfolio which includes running the underwriting process (pricing and underwriting the treaties using a range of actuarial and softer methods as well as checking, writing and analysing the wording of contracts), checking and monitoring the accounts, payments and profitability of the treaty.
• Effective management of portfolio queries and referrals
• Managing a team – providing leadership and direction whilst supporting the team with training and development activities.
• May travel independently or with colleagues and will need to negotiate with clients and brokers which requires adherence to internal guidelines.
• Performing analyst / underwriter tasks as and when required.

QUALIFICATION AND EXPERIENCE

Minimum qualification – Undergraduate Degree (preferably in a scientific, engineering or numerate discipline)

5-6 years' experience in the Short-Term Insurance industry (preferably in reinsurance, finance risk management or engineering sectors)

2-3 years' experience leading / managing a team.

Advantageous qualifications, knowledge and experience :

Postgrad qualification will be advantageous

COMPETENCIES

• Client focus
• Drives results
• Flexibility and adaptability
• Organisational savvy
• Balancing stakeholders
• Plans and aligns

Optimises work processes

Data Collection and monitoring decisions made by underwriters based on knowledge of business processes

Reporting and Administration

Quality, compliance and accreditation

Business acumen

PERSONAL SKILLS AND ETHICS

Santam Re's people-first approach requires us to make smart decisions as we build on our delivery of reinsurance solutions.

We are, therefore, highly driven to present industry-leading teams that are personable, approachable, have strong codes of personal values and ethics, and tolerance for other's beliefs and lifestyles, including their host nation's cultures.

Beyond the capabilities and expertise required, the professional Santam Re Territorial Lead must also present and / or embrace the following :

• Team player
• Ability to manage a team
• Ability to work to tight deadlines and under pressure
• Must be pro-active and take ownership of tasks
• Willingness and desire to learn
• Good work ethic
• Ability to multi-task
• Solid interpersonal and relationship building skills
• Good planning and organizing skills
• Proficient in Microsoft Excel, Word and PowerPoint
• Wording expertise, market knowledge, business acumen and a strong ability to understand the end-to-end analysis of a reinsurance submission are critical to this role.
• Good understanding of reinsurance principles and concepts
• A strong understanding of insurance and related risks to ensure Santam Re underwriting is protected from undue and / or unacceptable risks
• A strong understanding of reinsurance wordings and the implications of such wordings on the protection being afforded to cedants
• Good knowledge of insurance industries in geographic territories identified as target regions for Santam Re
• Negotiation
• Analytical
• Facultative and treaty underwriting