Specialist Liability Underwriter

Division: Corporate & Niche

Reports to:  Head Specialist Corporate & Niche 

Position Name: Specialist Liability Underwriter

Purpose:

To develop and manage a strategy for liability insurance within the Specialist, Corporate & Niche department that supports the growth and development of the Mutual & Federal Corporate Liability business through developing, implementing and managing fit-for-purpose underwriting, broker relationship, sales and business development initiatives.

Relationships /Stakeholders:

Direct Distribution, Sales, Brand, Customer & Transformation, Underwriting, Claims, Operations

Change & Strategy, Finance, HR, Risk, IT

Level of work

Time-span of work: 12-18 months

Various unrelated variables, spanning across different functional areas and require an understanding of organisational processes, procedures, standards and controls.

Accountable for strategy implementation through integrating various functional activities and ensuring adherence to an operational framework of policies and procedures in order to optimise service delivery.

Proactive identification of interconnected functional problems, determine impact, patterns and trends, identify best fit alternatives, best practice solutions and anticipate future problems. Readily available information, access to advice or precedent on approaches to solve problems.

Integrate readily available information related to demand, activity, quality indices, staffing and resource utilisation produced from across various functional areas, compare and analyse, and produce detailed reports identifying trends, discrepancies and inconsistencies.

Judgement is required on the theory and analysis of information, workflow procedures and methods to create best practice, and the impact may extend to other divisions.

Strategy execution through decisions on operational goals, implementation of best practice, and alignment of functional activities to operational frameworks of policies and procedures.

Source, allocate, manage and control resources across different teams and disciplines through resource plans executed in line with operational specifications and overall organisational plans.

Adhere to all requirements of the budgeting process, draw up a realistic budget that include workforce, technology, materials and equipment used, monitor planned vs. actual, and report on cost efficiency.

Recommend changes to optimise processes, systems, policies and procedures, and direct the implementation of change and innovation initiated by the organisation.

Planning for handling the work outputs related to some particular product or service being provided, pulling together a number of interdependent functional activities, and specifying the priorities, standards and procedures to be followed to ensure efficiency.

Development of Corporate Liability function

Established Corporate Liability Capability

Activities

• Develop, plan for, implement and take accountability for the strategy and operating model of the Corporate Liability function, partnering with the Head: Specialist Corporate & Niche in response to the business model and Mutual & Federal strategy.
• Develop and implement a strategy for Corporate Liability Business to support Mutual & Federal growth.
• Drive the development of a leading customer value proposition for corporate liability. 
• Develop and maintain of a winning and fit-for-purpose portfolio management strategy.
• Develop and maintain a winning product development and life cycle capability.
• Develop and maintain winning business development strategies and management practices.
• Develop corporate liability products which includes rating and underwriting guidelines.
• Manage relationships with the broker channel and ensure effective broker service levels.
• Manage and drive profitability and growth within area of accountability.
• Identify and create coordinated sales opportunities
• Manage all costs, resource capacity planning and utilisation to support the achievement of sales targets, volumes, operational budgets and plans.
• Identify and drive opportunities to improve and expand product and service offerings.
• Actively manage and report on the achievement of sales targets as well as industry performance and trends.
• Translate strategy into relevant service standards and processes, setting, communicating and measuring  the corresponding operational measures and targets.
• Keep abreast of market conditions and trends.

Measures

• Underwriting standards
• Product development
• Broker relationships
• Sales targets
• Quotation accuracy and efficiency
• Data accuracy and completeness
• Customer query resolution
• Service standards

Best-practice Service Delivery

• Optimise customer service and relations to ensure customer attraction and retention
• Actively implement and monitor service practices to determine the status of customer service and relations
• Proactively identify and implement changes required in customer service and relations
• Develop customer solutions (process, product, systems) to address changing service requirements, implement customer centric strategies and ensure customer satisfaction
• Manage effective SLA’s with internal and external stakeholders.
• Provide professional services; where expectations are managed.

Drive continuous improvement to ensure optimisation and best practice

Implement continuous improvements initiated

• Streamline and integrate existing business processes and systems
• Keep up to date with Best Operating Practice
• Identify, prioritise, develop business cases for, present and execute Best Operating Practices
• Create collaborative relationships with other departments to determine internal and external process improvements designed to enhance the customer experience and value
• Evaluate and implement new systems and best operating practices

Optimised business process and operating procedures.

Financial and corporate governance to ensure efficiencies

• Adhere to all financial requirements and ensure cost efficiency through effective management of planned vs. actual
• Implement governance controls to effectively manage risks and potential returns.
• Contribute to the development and implementation of fit for purpose budgets.
• Budget by weighing up costs and risks pertaining to workforce, technology, materials and equipment used
• Effective budgetary compilation and control
• Manage vendor relationships, and budgets associated with projects
• Keep within budget constraints for an annual period, monitor planned vs. actual, and report on cost efficiency.
• Take accountability for the management of business related risks within own area.
• Operate within agreed mandates as documented in the business rules.

Measures

• Budget time frames adhered to
• Accuracy
• Targets
• Risks mitigated and managed within area.
• Compliance to mandates.

Best-practice Service Delivery

Optimise customer service and relations to ensure customer attraction and retention

• Actively implement and monitor service practices to determine the status of customer service and relations
• Proactively identify and implement changes required in customer service and relations
• Develop customer solutions (process, product, systems) to address changing service requirements, implement customer centric strategies and ensure customer satisfaction
• Manage effective SLA’s with internal and external stakeholders.
• Provide professional services; where expectations are managed.

Drive continuous improvement to ensure optimisation and best practice

Implement continuous improvements initiated

• Streamline and integrate existing business processes and systems
• Keep up to date with Best Operating Practice
• Identify, prioritise, develop business cases for, present and execute Best Operating Practices
• Create collaborative relationships with other departments to determine internal and external process improvements designed to enhance the customer experience and value
• Evaluate and implement new systems and best operating practices

Optimised business process and operating procedures.

Financial and corporate governance to ensure efficiencies

• Adhere to all financial requirements and ensure cost efficiency through effective management of planned vs. actual
• Implement governance controls to effectively manage risks and potential returns.

Contribute to the development and implementation of fit for purpose budgets.

• Budget by weighing up costs and risks pertaining to workforce, technology, materials and equipment used
• Effective budgetary compilation and control
• Manage vendor relationships, and budgets associated with projects
• Keep within budget constraints for an annual period, monitor planned vs. actual, and report on cost efficiency.
• Take accountability for the management of business related risks within own area.
• Operate within agreed mandates as documented in the business rules.

Budget timeframes adhered to

• Accuracy
• Targets

Risks mitigated and managed within area.

• Compliance to mandates.

Adaptability

• The willingness and capacity to simultaneously accept and adapt to change, as well as, remain effective and task focused in a fast passed and constantly changing workplace environment
• Advances an organization’s mission and long-term organizational practices
• Assesses external to internal demands/ expectations and takes appropriate action, involving upper management and affected staff
• Seeks and obtains buy-in from a variety of external/internal sources, with regard to changing and/or shifting priorities, demands, and requirements
• The ability to adapt to and capitalizes on emerging industry trends, opportunities and risks

Decision making and problem solving

• The extent to which an individual is able to recognize and analyse a problem and/or a difficult situation and develop an appropriate and results-oriented course of action
• Anticipate obstacles and overcome challenges in highly complex situations
• Recognizes symptoms that indicate more significant problems
• Anticipates obstacles, considers the impact/ consequence of decisions
• Puts a problem in context, recognizes risks, understands situational variables
• Reconciles the conflicts between short term requirements and long term objectives.

Strategic Thinking

• Formulates objectives and priorities, and implements plans consistent with the long-term interests of the organization in a global environment. Capitalizes on opportunities and manages risks.
• Create, implement, monitor and review tactical strategic plans
• Develops short term (12 – 18 months) tactical plans that are aligned with business division strategy and objectives to promote organizational strategic goals
• Makes strategic decisions which demonstrate an awareness of divisional strengths and weaknesses
• Displays a clear understanding of the market and competitive forces
• Adjusts strategy according to changing conditions
• The ability to interpret organizational strategy and translate this into tactical action and contingency plans

External Awareness

• Understands and keeps up-to-date on local, national, and international policies and trends that affect the organization and shape stakeholders’ views; is aware of the organization’s impact on the external environment.
• Predict the impact of external factors on the organization and its operations.
• Gathers and summarizes information to predict stakeholder views on a new policy
• Considers external policies and trends when reviewing correspondence, reports, and policy documents

Accountability

• Is responsible for results expected and all resources that have been placed under one’s care. Is open to sharing results and resources with others
• Manage and influence organizational practice in a responsible and dedicated manner
• Approaches own work with dedication and high sense of responsibility
• Provides support to others in accomplishing their work
• Takes responsibility for the welfare of the entire portfolio under one’s lead

Building Customer Loyalty

• Builds enduring rewarding customer relationships and ensures that a customer focus is the rationale behind all business activities.
• Guide and integrate good customer relation practice
• Uses appropriate techniques to move others to action or to gain agreement
• Fosters an environment that values customer satisfaction. Initiates programs that ensure customer satisfaction is delivered
• Develops and implements customer satisfaction measurements and performance quality reviews
• Formulates customer service policies and procedures aligned with the organization’s objectives

Product Development

• Stays attuned to the needs of the market and developments in the insurance sector. Translates market knowledge into product innovations and new designs that are responsive to the needs of the clients.
• Influence and guide product and service offering models
• Anticipates trends in the industry that will lead to the development of new products to better respond new market segments or new market needs
• Engage with key role players to promote product and service delivery alignment with client specific medium and long term strategic goals and requirements
• Monitors and influences service level agreement achievement through strategic partnerships with key role-players in the market

Communicating With Impact

• Communicates effectively in both the written and verbal format. Delivers clear, succinct messages and ensures understanding of others’ message
• Provide guidelines and standards for organization’s communication network
• Communication is subject to varied contexts and setting, requiring communicating with a level of accuracy and fluency that enables communication on a variety of topics from both concrete and abstract perspectives
• Most cognizant of ensuing impact due to appropriateness of message content, timing and forum of communication
• Uses varied communication vehicles and opportunities to promote dialogue, shared understanding and consensus
• Constructing and developing hypotheses to explore and persuade of alternative possibilities using extended discourse, without unnaturally lengthy hesitation to convey information with the most far reaching impact on organization-wide processes and outcomes
• The scope of communication may involve, but is not limited to, presenting organizational, legislation and regulations, long-term department/organization objectives, strategies and goals to senior management administrators, organization’s stakeholders, outside organizations and the public

Qualifications

• Grade 12
• Business/ Marketing Degree (BCOM/ BA MARKETING or equivalent)
• Appropriate Insurance Qualification

Technical Skills & Knowledge

Essential: 

• Business planning and budgeting
• Product knowledge
• Business development
• Market knowledge

Desirable:

• Business Intelligence
• Influence

Experience

• 7 – 10 years’ experience in Corporate Liability insurance;
• 8 years’ experience in field of sales and business development.

Career Path

Potential Position 1

• Head: Specialist Corporate & Niche

Potential Position 2

• Executive: Corporate & Niche