Head: Insurance Management

**Purpose of the position**:
Lead the company's critical insurance program, overseeing all insurance-related activities and, playing a critical role in developing and implementing strategies to mitigate risks associated within SBV Operations to maintain the company's insurance portfolio.

**Key Performance Areas (KPAs)**:
**Manage strategic alignment linked to the Insurance programme of SBV**
- Develop and implement the company's insurance program, including policies, procedures, and strategies that align with the company's overall risk management objectives and that that coverage is adequate and cost-effective.
- Provide input into the Departmental Strategy linked to the Long-term Company Strategy
- Support the annual insurance cover review, coordinating and compiling a comprehensive argument for the Company to receive or maintain the best rates and standards around Insurances, giving SBV a competitive edge

**Insurance Portfolio Process and systems management**
- Finalise and confirm insurance cover for Business is arranged and submitted to the relevant Brokers and Underwriters.
- Enforce compliance with regulatory requirements and contractual obligations relating to insurance.
- Identify emerging risks and develop strategies to mitigate, providing guidance and expertise to the SBV teams for closure
- Conduct risk assessments and develop risk management strategies to mitigate potential losses.
- Responsible to partner with the various business units on the below activities to incorporate their needs and offer value add to the various teams from an expertise point of view: *Gather accurate information to help in assessing their insurance needs *Create and provide insights into the risk profile of the area *Provide advisory services on how to improve or maintain an appropriate risk profile linked to the SBV intent *Provide advocacy for SBV insurance Portfolio intent to align teams
- Research insurance companies' policies and negotiate with underwriters to find the most suitable insurance for our business needs at the best terms
- Generate an understanding on the terms and the extent of the cover provided in line with the negotiated agreements with the Underwriters across SBV, partnering with Organisational Development to deliver awareness or training programmes on a regular basis
- Accountable to manage the annual insurance cycle, including policy renewals, amendments, and mid-term adjustments, looking ahead to foresee Business’s insurance needs liaising with the relevant stakeholders as required
- Advise the relevant Business areas on whether and when they need to make claims on the relevant policies.
- Providing expert guidance, arrange and place specialised types of insurance cover for complex cases which involves preparing reports for insurance underwriters and surveyors and negotiating with insurers.
- Devise new ways to mitigate risks to reduce the likelihood of claims and confirm placing with the best premiums.
- Utilise stakeholder engagement tactics and relationship maintenance methods to: o Manage internal stakeholders: build and maintain an ongoing relationship with the relevant Business areas (uses of Insurance services). o Manage external Stakeholders: develop and maintain relationships with Brokers, underwriters, Actuaries, claim managers and other professionals that are relevant to maintain that SBV can protect its insurance program.
- Accountable to establish and maintain detailed records and administration to protect SBV’s interests and comply with relevant legislation and SBV standards. To minimise risk to SBV by taking responsibility to confirm that insurance placed the relevant insurance premiums on time to prevent repudiation of claims
- Accountable to manage claims from the start through to settlement which involves (but not limited to): *To provide advice on making a claim and the processes involved. *To collate accurate information and documents to proceed with a claim. *To analyse a claim made by a policymaker to establish whether it satisfies the policy conditions. o To guide Business on how to proceed with the claim. o To explain to Business when their claim is not covered. o To monitor the progress of a claim. *To liaise with solicitors, as well as other legal and claims professionals, and negotiate the terms of a claim. *To prepare an initial estimate of costs and then closely monitor and keep a record of costs. *To get advice from external specialists, such as loss adjusters and forensic accountants, on complex cases. *To manage all administration aspects of the claim, confirming that case notes, logs and diaries for each claim are completed on time and accurately. *To adhere to legal requirements and industry regulations. *To making decisions on the extent and validity of a claim and ensuring post analysis to prevent future such claims.
- Demonstrates and provides advisory services through a comprehensive understanding of the different types of business insurance cover e.g