Claims Manager (CPT)

The role

What will you do?

What will make you successful in this role?

Reinsurance Claims Management
•    Coordinating the full lifecycle of outward reinsurance claims across proportional and non-proportional treaty programmes.
•    Optimal steering and controlling of the reinsurance claims recovery process in conjunction with the underlying business unit/s.
•    Monitor and manage large loss and catastrophe claims recoveries.
•    Ensure the accurate calculation and allocation of recoveries in accordance with treaty terms, and in conjunction with the risk office as well as underlying business unit/s.
•    Review and validate claims bordereaux, statements of account, and recovery schedules.
•    Oversee claims cash collection processes and ensure close collaboration with the outwards finance team to ensure outstanding claims recoveries do not age within debtors.
•    Ensure accurate recording and reconciliation of reinsurance claims transactions within relevant systems, per line of business and for the specific business unit which incurred the loss.
•    Monitor and resolve claims disputes, coverage issues, and recovery delays in conjunction with the underlying business unit/s.
•    Coordinate claims settlement processes with the outwards finance team, and the Santam Group treasury team as required.
•    Review and recommend improvements to claims processes to minimise the risks associated with poor claims data being used to support recovery activities – this ensures any risk of potential leakage is proactively managed.
•    Maintain claims files and supporting documentation in accordance with regulatory and audit requirements.

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Technical Support to the Group Buying function
•    Interpret and apply complex treaty wordings, endorsements, and special acceptances to ensure the best outcome for the Santam Group.
•    Collaborate with the Group Buying function to provide technical guidance regarding recoverability, aggregation, attachment points, limits, reinstatements, and claims reporting obligations. 
•    Develop and maintain a reinsurance claims dashboard which assesses each reinsurance programme’s responsiveness to major losses and catastrophe events.
•    Participate in claims strategy discussions involving large or complex losses.
•    Support underwriting and actuarial teams with claims-related reinsurance insights.

Stakeholder Management
•    Build and maintain strong working relationships with reinsurers, brokers, underwriting teams, group compliance, finance departments, actuarial functions, and legal advisors across the industry and within the Santam Group.
•    Manage communication with international markets and external stakeholders, in collaboration with the Santam Group buying function and the underlying business unit/s.
•    Attend reinsurer and broker meetings relating to claims performance and recoveries.
•    Facilitate cross-functional collaboration across multiple geographies and business units.

Reporting and Analytics
•    Monitor claims recovery performance metrics and identify operational improvement opportunities.
•    Analyse trends relating to recoveries, disputes, outstanding balances, and reinsurer responsiveness. Provide this feedback to the Santam Group buying function to ensure proactive stakeholder management.
•    Support actuarial reserving and finance teams with reinsurance claims data and reconciliations.
•    Provide insights into claims development patterns impacting reinsurance programmes.
•    Provide insights into reinsurance program design to ensure the maximum benefit to the Santam Group and its business units.

Governance, Compliance and Controls
•    Support the underlying business unit/s with industry best practice / updated processes to ensure compliance with contractual obligations, regulatory requirements, internal policies, and the Santam Group’s claim reporting standards.
•    Ensure adherence to claims notification timelines and contractual reporting obligations in consultation with the underlying business unit/s.
•    Support internal and external audits relating to function.
•    Assist in maintaining effective risk management and governance frameworks.

Qualification and experience

Bachelor’s degree in insurance, Risk Management, Finance, Accounting, Law, Commerce, or related field

Professional certifications such as:

Associate/Fellow of the Insurance Institute of South Africa (IISA)
Chartered Insurance Institute (CII)

You have a proven track record of delivering meaningful, impactful work throughout your career.
You have a minimum of 8 years of practical reinsurance experience either within a reinsurance claims function, reinsurance technical accounting function or primary insurance claims management.
You have practical experience with reinsurance treaty and facultative programs.
You have strong analytical and problem-solving skills, with the vision to see solutions beyond current system capabilities.
You have experience working with large international reinsurers, brokers and / or multinational insurance groups.
You have experience handling complex and high-value claims programmes for which recoveries could span multiple years.
You have enhanced communication and presentation skills and enjoy working cross-functionally building relationships across an organisation.
You can adapt, and thrive, in a fast-paced and evolving environment where you will need to roll up your sleeves.
You are open to travel locally and internationally as required by the role from time to time.

About us

We are a leading general insurer in South Africa with a market share less than 24%. We have 108 years of standing and we provide a diverse range of general insurance products and services to individuals, commercial and corporate markets. We operate in South Africa, Namibia and selected emerging markets through a network of intermediaries, direct and partnership channels. Our portfolio of insurance products includes car, property, liability, engineering, agricultural insurance, guest house insurance; tourism, leisure and entertainment and reinsurance insurance. Our agriculture insurance products, include crop insurance, asset insurance, and weather insurance. In addition, the company provides claim, brokerage, and SOS services to its customers. In South Africa and Namibia, We serve more than 1 million policyholders who range from individuals to commercial and specialist business owners and institutions. Headquartered in Cape Town, South Africa, Santam was founded in 1918 and listed on the JSE in 1964 under the insurance (non-life) sector. The group has secondary listings on the Namibian Stock Exchange and A2X Markets Exchange. Santam is a subsidiary of South African financial services group Sanlam, which holds 62.3% of Santam’s shares.