Underwriter: Cyber Risks

Stay safe online. Now more than ever it’s important to be cybersafe. See Santam’s tips to help you stay safe online. Learn more. Santam Specialist has an exciting opportunity for a Cyber Risks Underwriter to join its dynamic team. This role is aimed at an experienced insurance professional who will focus on the underwriting of cyber risk insurance products within the South African specialist insurance market . What will make you successful in this role? The successful candidate will be responsible for providing technical expertise and underwriting cyber risks across a variety of industries and client segments, supporting the development and profitable growth of Santam’s cyber insurance portfolio. Key Responsibilities include: Risk Assessment & Underwriting: Analyse and assess new and renewal submissions for Cyber Risk insurance with a focus on exposures including ransomware, data breach, business interruption, and network security liabilities. Apply deep technical knowledge of cyber risk exposures and evaluate the likelihood and potential severity of cyber threats. Determine appropriate coverage terms, limits, and pricing strategies using proprietary underwriting models, market data, and broker insights. Ensure alignment with Santam’s cyber risk appetite , pricing tools, and underwriting guidelines. Structure bespoke cyber insurance solutions where standard wordings are inadequate. Broker and Client Engagement: Develop and maintain strong broker relationships to position Santam as a market leader in Cyber Risk underwriting. Present and explain cyber coverage to brokers and clients, providing training and insight where needed to enhance cyber risk awareness. Attend renewal and new business meetings; negotiate terms and close deals effectively. Monitor the performance of the cyber portfolio (e.g. hit ratios, profitability, loss trends) and provide insights into emerging threats and risks. Work collaboratively with the Head : Cyber Risks to ensure product relevance and continuous development of cyber wordings and endorsements. Deliver underwriting reports and updates to management for decision-making and strategy refinement. Internal Collaboration: Collaborate closely with claims, actuarial, legal, IT security, and reinsurance teams to manage risk holistically. Participate in product development initiatives and cross-functional projects, including those related to cyber risk modelling and incident response readiness. Contribute to the development of underwriting tools, training material, and knowledge-sharing resources. Qualifications & Experience Bachelor’s degree in risk management, Law, Insurance, IT Security, Finance or related field (LLB, B.Comm or similar) preffered Cyber Insurance underwriting experience (minimum 2–3 years ) essential. Broader knowledge of specialist insurance products and underwriting FAIS compliant with RE5 qualification. Admitted Attorney or experience in data protection, cyber law, or IT governance would be a strong advantage. Strong understanding of global and local cyber risk landscape, threats, and regulatory frameworks (e.g. POPIA, GDPR). Proficient in Microsoft Excel, Word, PowerPoint, and data tools. Skills Technical Expertise Deep understanding of cyber exposures and insurance solutions including third-party liability and first-party incident response cover. Ability to analyse IT risk reports, threat intelligence, and client cyber security postures. Sound knowledge of cyber insurance policy wordings and ability to draft bespoke terms and clauses. Analytical Thinking: Strong analytical and risk assessment skills with the ability to interpret complex data and cybersecurity reports. Financial acumen to assess business resilience, continuity plans, and economic impact of cyber risks. Communication & Influence: Strong verbal and written communication skills – ability to confidently engage brokers, clients, and internal stakeholders. Ability to explain complex cyber risk concepts in an accessible manner. Commercial Acumen: Understanding of local market dynamics in South Africa’s specialist insurance sector. Able to identify growth opportunities and develop tailored solutions in a competitive cyber insurance market. Agility & Innovation: Proactive in staying updated with emerging cyber threats, trends, and regulatory changes. Adaptable and able to innovate within a dynamic and evolving line of business. Knowledge Solid understanding of: Cyber risk landscape, threat actors, and mitigation practices. Global and South African data protection regulations and liability trends. Reinsurance and its application in cyber risk underwriting. Short-term insurance principles and underwriting standards. Financial and operational risk implications of cyber incidents. Our recruitment processOnboarding You made it. Here we ensure we receive all your documents to get you onto our payroll system. Our recruitment process Advertise Step 1 Our vacancies are advertised between 3-5 days depending on the market availability of the skills required. Our recruitment process Step 2 Could take a couple of days depending on the volume and the screening process, which various according to the complexity of the role. Our recruitment process Step 3 Long listed candidates are sent to the hiring manager to review and consider for the next stage of the selection process. Our recruitment process Telephonic screening Step 4 Candidates may be contacted for a short screening interview to get to know them better and to ask any clarity seeking questions. Our recruitment process Your interview Step 5 We use a competency interview model. Interview dates will be confirmed via e-mail. During the interview you will be introduced to the panel and the process will be explained. Remain calm and sell yourself. This is our opportunity to match your skills to the job. You only get one shot Our recruitment process Assessment Step 6 Should we like what you bring to the table, depending on the job you are being considered for, you may be invited to complete a psychometric assessment. Further employment checks are conducted the ensure the validity of your credentials. Our recruitment process Step 7 Prior to an offer being made, there may be a second interview to meet with the Head of Department.Should there be a need for any further interviews, be sure to bring the same charm that got you through your first interview. Our recruitment process Onboarding Step 8 You made it. Here we ensure we receive all your documents to get you onto our payroll system. Our recruitment process Advertise Step 1 Our vacancies are advertised between 3-5 days depending on the market availability of the skills required. Our recruitment process Step 2 Could take a couple of days depending on the volume and the screening process, which various according to the complexity of the role. Our recruitment process Step 3 Long listed candidates are sent to the hiring manager to review and consider for the next stage of the selection process. Our recruitment process Telephonic screening Step 4 Candidates may be contacted for a short screening interview to get to know them better and to ask any clarity seeking questions. Our recruitment process Your interview Step 5 We use a competency interview model. Interview dates will be confirmed via e-mail. During the interview you will be introduced to the panel and the process will be explained. Remain calm and sell yourself. This is our opportunity to match your skills to the job. You only get one shot Our recruitment process Assessment Step 6 Should we like what you bring to the table, depending on the job you are being considered for, you may be invited to complete a psychometric assessment. Further employment checks are conducted the ensure the validity of your credentials. Our recruitment process Step 7 Prior to an offer being made, there may be a second interview to meet with the Head of Department.Should there be a need for any further interviews, be sure to bring the same charm that got you through your first interview. Our recruitment process Onboarding Step 8 You made it. Here we ensure we receive all your documents to get you onto our payroll system. TIPS & TRICKS Getting ready for your interview There is not just one way to be successful at Santam, nor is there one way to interview with us. Interviewing is a two-way process - it helps us learn about you, and it helps you learn about us, our people, and what you could do here. Santam has been officially recognised by the Top Employers Institute as a Top Employer 2025 for excellence in people practices. This is the ninth consecutive year that we have achieved this accolade. #J-18808-Ljbffr