Insurance Manager

Company Description

At De Beers Group our purpose is to Make Life Brilliant.

We believe that a sustainable business is purposeful, competitive, resilient and agile – it’s a business that thrives through both economic and social cycles. By understanding the context and listening to stakeholders we stay ahead of evolving trends and provide the solutions to societal expectations. By solving the physical challenges of mining through relentless innovation, and constantly searching for more responsible ways to do business, we are changing the way our employees and stakeholders experience our business – creating enduring value for all stakeholders. Sustainability is at the heart of our decision-making – it is how we do business.

Job Description

We are seeking an Insurance Manager to act as De Beers Group’s central authority on insurance and risk financing. The role will manage global insurance programmes across mining operations, diamond recovery and processing, global diamond transportation, inventory/specie exposures, retail businesses, corporate functions and strategic initiatives, with accountability for effective risk transfer, claims recovery, regulatory compliance, loss prevention and optimisation of the Group’s total cost of risk.

The role has global scope and requires travel to corporate and operational locations, including mining sites, as business needs require. The role holder will coordinate business-unit insurance representatives and external service providers; any direct-report responsibilities and delegated financial authorities as defined.

Key Responsibilities

Insurance Strategy and Programme Design

• Develop and implement the Group's global insurance strategy and risk financing framework.
• Define the Group’s risk appetite for insured and retained risks and recommend appropriate deductibles, self-insured retentions, limits, insurer panels and alternative risk financing arrangements.
• Design, procure and maintain appropriate insurance programmes to meet the evolving needs of the business, including:
  • Mining and operational assets
  • Capital projects and construction activities
  • Mergers and acquisitions
  • Corporate and commercial activities
  • Emerging and strategic risks
• Maintain a coverage framework addressing material exposures, including property damage and business interruption, construction, liability, marine cargo/specie, cyber, directors’ and officers’ liability, crime, environmental liability, political violence and terrorism, and other specialist risks relevant to the Group.
• Ensure all statutory, contractual and regulatory insurance requirements are met across jurisdictions in which De Beers operates.
• Lead insurance market engagements, renewals and placement activities to secure optimal coverage and competitive pricing.
• Monitor global insurance market trends, capacity, pricing and coverage developments to identify opportunities and emerging threats.
• Provide insurance due diligence and transaction support for acquisitions, divestments, restructurings, joint ventures and strategic projects.
• Establish insurance governance for non- government joint ventures and partnerships, including alignment with partners, financing requirements and shareholder obligations.
• Build and maintain institutional insurance knowledge within the Group and develop sustainable insurance management processes that reduce reliance on external advisers.

Programme Optimisation and Innovation

• Continuously review insurance arrangements to identify cost-effective improvements and innovative risk financing solutions.
• Challenge existing programme structures and develop recommendations that improve coverage, reduce total cost of risk and increase operational efficiency.
• Explore alternative risk transfer mechanisms and emerging insurance products.
• Benchmark insurance programmes against industry best practice and leading mining sector standards.

Insurance Administration and Governance

• Oversee the implementation and ongoing management of all administrative processes and controls necessary for the effective operation of insurance programmes.
• Ensure accurate and timely management of policy documentation, endorsements, declarations, asset schedules and underwriting data.
• Establish and maintain governance frameworks, reporting mechanisms and internal controls supporting insurance programme effectiveness.
• Own insurance the budgets, premium forecasts, allocations and accruals; monitor broker remuneration, premium taxes and expenditure against approved budgets.
• Coordinate with Finance, Tax and external audit on insurance-related accounting, claims receivables, provisions, disclosures and supporting evidence.
• Maintain compliance with local admitted-policy requirements, licensing, sanctions, anti-bribery, premium-tax, data-protection and document-retention obligations across relevant jurisdictions.
• Own insurance exposure, policy and claims data, systems and records, including data-quality controls, access governance and reporting automation.
• Coordinate annual renewal processes and ensure quality submission information is provided to insurers and brokers.

Claims Management

• Lead the Group response to major loss events and significant or complex claims, coordinating insurers, brokers, loss adjusters, legal advisers and operational stakeholders to maximise recovery, protect evidence and minimise business disruption.
• Develop and maintain effective claims management processes across the Group.
• Ensure appropriate claims notification, documentation and recovery procedures are in place and operating effectively.
• Monitor claims performance metrics and ensure claims are settled within reasonable timeframes and in accordance with policy terms and conditions.
• Identify trends and lessons learned from claims experience and recommend risk mitigation measures.

Stakeholder Management and Advisory

• Establish and coordinate a network of insurance coordinators and subject matter experts across operations, projects, finance, legal, security, supply chain and procurement functions to ensure accurate underwriting and claims information is available throughout the year.
• Build and maintain strong working relationships with business unit leaders, project teams and Group functions.
• Provide expert insurance advice and support to operational, project and corporate teams.
• Review insurance, indemnity, limitation-of-liability, waiver and evidence-of-insurance provisions in material customer, supplier, logistics, construction, financing and joint-venture agreements.
• Maintain relationships with insurers, brokers, reinsurers, loss adjusters, legal advisors and other external stakeholders.
• Act as the owner of the broker relationship and provide independent challenge to broker recommendations, programme structure, insurer selection, coverage terms and placement strategies.
• Stay informed on business developments, strategic initiatives and risk exposures to proactively advise on insurance implications.
• Communicate insurance requirements, programme performance and key developments to senior management.
• Work with crisis management, business continuity, disaster recovery, security and operational teams to ensure insurance arrangements and incident-response protocols are aligned.

Captive Insurance Strategy

• Investigate the feasibility, benefits and business case for establishing a Group captive insurance company.
• Assess captive structures, domiciles, governance requirements and financial implications.
• Lead implementation activities should the Group decide to establish a captive insurance vehicle.
• Manage ongoing interactions with captive managers, regulators, actuaries and reinsurers where applicable.

Reporting and Risk Management

• Prepare and present insurance and claims reports for senior management, executive committees and governance forums.
• Monitor