Head of Insurance Development
Job Introduction
When you join Saga we welcome you with open arms and we fuel your career possibilities. We support. We encourage. We champion you to reach your full potential
This role is an important leadership role within the Actuarial team who strive to facilitate, to help and support AICL function of the business and reports directly to the CEO of AICL.
This is a role which will see you take the lead on ensuring AICL adheres to all relevant home and host state regulation and compliance requirements. Mentor and coach the team and provide leadership, advice and guidance across all insurance and reinsurance areas.
You will bring with you a wealth of experience and knowledge of insurance and reinsurance and a strong desire & experience to mentor and coach teams to continuously improve. This is an opportunity for a genuine expert to be able to use their complete skill set to develop a high performing team to even greater heights!
And in return, you can look forward to all of the responsibility and involvement of an integral role, providing you with a rewarding and fast paced career with an excellent benefits package including life assurance, pension, high street and online discounts, and concessions for holidays and travel.
Role Responsibility
The primary tasks of the role are:
1. Take the lead on ensuring that AICL adheres to all relevant home and host state regulation and compliance requirements
2. In conjunction with the UW dept ensure that underwriting and policy wordings for all products are in line with best practice. Work with distribution channels to ensure that policy wordings, endorsements, excesses, etc are in line with market best practice
3. Reporting to senior management, assist with the management of AICL’s reinsurance solutions (incl quota share, coinsurance and Motor XoL) and identify reinsurance opportunities to support AICL’s capital light model
4. Lead on the effective and efficient management of existing and new distribution relationships across all AICL departments
5. Work with Claims/CHMC & Saga Broking/SSL to ensure that all outsourced activity is compliant with relevant regulation and ensuring that appropriate oversight and control is maintained on those outsourced operations
6. Monitor the performance of distribution channels to ensure that they are acting in line with TOBA contractual SLAs
7. Ensure AICL complies with all Saga Group governance requirements
8. Work with SSL & CHMC to ensure smooth delivery of Saga’s Insurance Strategy.
9. Provide updates to the board in respect of regulation, distribution, outsourcing, reinsurance, AICL and Group governance compliance and delivery of Insurance Strategy
10. Own specification and interpretation of and act upon MI for regulatory, compliance, underwriting, distribution and capacity
11. Mentoring and coaching of the AICL team
12. Keep up to date with current market/legal trends and disseminate details of the same to the AICL team
The tangible outputs that this role produces are:
• AICL compliance to all necessary regulation
• A consistent and fair outcome for all AICL customers
• Successful relationship management of distribution and capacity
• Provide Saga with capacity solutions with AICL being underwriter of choice
The Ideal Candidate
Knowledge and Competencies Required:
• Excellent knowledge of Insurance Regulation and Compliance
• Excellent knowledge of Personal Lines Underwriting & Distribution
• Strong knowledge of Reinsurance/Capacity solutions, markets and practices
• Proven track record of motivating others to achieve a common vision
• Ability to effect change through IT systems and best practice
• Ability to produce high-quality work within agreed timescales
Special Skills:
• Results driven.
• People skills & employee engagement.
• Excellent communicator
• Have a clear view of the legal environment affecting Personal Lines Insurance and Reinsurance
• Attention to detail, being able to write and review policy wordings
• Self-motivated and able to work on own initiative
• The ability to analyse and create best practice around regulation & compliance
Technical Qualifications Required:
• Graduate or experience equivalent
• Demonstrable experience and high-level expertise in insurance and reinsurance
Package Description
The standard benefits when you join Saga include:
- Option to purchase a further 5 days annual leave per year
- Free private medical insurance after 1 years service
- Pension
- AXA Be Supported
- Apples Nursery (Folkestone only and on a waiting list basis)
- Free fruit
- Give as you earn
- Free eye tests
- Honeymoon benefit
- Sharebuy
- Salary finance
- Discounts on Saga holidays and insurance products
- A range of reductions and offers from leading retailers, travel groups and entertainment companies
- Long service awards
About the Company
When you join Saga you will see that we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement.
We value diversity not just because it is the right thing to do, but because diverse teams perform better. Creating a culture in which everyone feels welcome and offering equal opportunities in all aspects of employment and advancement is incredibly important to us. Fair consideration is given to applications from all applicants, including those with disabilities. If you need support at any point with your application please let us know as we will be happy to help.
Learn more about the Saga business by watching our Saga plc Interim results for the six months ended 31st July 2018
To all recruitment agencies: Saga does not accept agency CVs unless specifically engaged on the role by the HR Recruitment Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga is not responsible for any fees related to unsolicited CVs.
Saga Group
