Head : Africa Underwriting

Role overview

To develop and manage an underwriting control framework and underwriting operating model for the M&F AFRICA business units that supports the growth and development of the Mutual & Federal business through developing, implementing and managing:

  • a fit-for-purpose  technical underwriting governance  framework 
  • underwriting process and operations
  • developing and  implementing technical pricing, as well as management of discount mandates
  • developing product and creating product changes
  • liaising with Head: Reinsurance to ensure adequate and appropriate reinsurance structures in place and processes to obviate overexposure
  • across all product sets and distribution mechanisms in all Africa, excluding South Africa

Key Responsibilities

  • Develop, plan for, implement and take accountability for the strategy and operating model of the Africa Division Technical Underwriting Department, partnering with the Executive: Underwriting in response to the business model and Mutual & Federal strategy.
  • Establish an aligned departmental Balanced Scorecard focused on the implementation, measuring and management of the departmental strategy.
  • Determine the business value chain for the Africa Underwriting Department and ensure that this value chain is aligned and integrated with the Underwriting Division and Africa & New Markets value chain.
  • Set underwriting rules, criteria, guidelines and mandate levels across products, lines of business, platform, distribution and all geographies.
  • Develop technical underwriting framework including product wording, risk acceptance criteria and underwriting rules & guidelines, retention limits, survey standards, risk classification guide, EML calculation rules & delegated authority mandates.
  • Review reinsurance wordings to ensure no unplanned gaps exist.
  • Conduct and manage technical reviews.
  • Ensure that risk is managed optimally within the technical framework, particularly in risk acceptance and underwriting appetite.
  • Review current business practices and technical underwriting procedures to identify key risk and alignment to the market if appropriate.
  • Develop, implement and manage a product management framework that identifies and corrects loss trends and problem areas and provides remedial solutions for implementation by the Africa & New Markets sales and underwriting teams.
  • Design, implement and manage an effective, efficient and fit-for-purpose set of underwriting processes for Africa & New Markets operational underwriting units and service centre units that will optimally enhance the product lifecycle.
  • Provide and analyse underwriting results for the Africa & New Markets division.
  • Provide data specifications for connectivity and rate engines.
  • Manage and control price discounting through framework design, implementation and tracking.
  • Liaise with the Corporate Actuarial department to drive pricing models that are competitive, relevant to the environment and comply with capital requirements.
  • Contribute to strategies and related processes to continuously grow the target market. Influence new business, marketing and communication processes incorporating product development and client services to improve understanding and acceptance of product mix in the market.
  • Actively participate in the research and monitoring of the industry, target market and competitors to identify opportunities and threats as well as areas for improvement in operations.
  • In conjunction with the Risk & Actuarial department, facilitate the development and implementation of technical rating solutions that satisfy the company’s stated financial objectives.
  • Co-design, co-implement and co-manage an online quoting capability.
  • Provide wording design and drafting which is legally compliant, free of ambiguity and within scope of reinsurance and underwriting appetite.
  • Liaise with Reinsurance Department to ensure adequate reinsurance is in place to support technical underwriting appetite and product sets within risk based capital structure defined by the Corporate Actuarial department.
  • Prepare business specifications for systems development teams with respect to all product sets.
  • Provide technical guidance on referrals

Experience required

  • 5 – 10 years’ experience in the insurance  sector
  • 3-5 years’ experience in field of technical underwriting or short-term  actuarial experience
  • 3-5 years’ experience in the management of people, at least at manager of manager level.
  • Experience in Short Term insurance sector a prerequisite
  • FIISA or FCII  or working towards FIA or FASSA
  • And/or Actuarial degree
  • And/or BCom degree

Please note, interviews for this position will take place at our Careers in Africa Recruitment Summit in London, 16- 18th of May 2014. Relevant candidates will be contacted and invited to attend the event.


Company