WFS Commercial Lead Insurance

Woolworths Financial Services Full time

Cape Town, South Africa Posted on 05/19/2026

WoolworthsFinancial Services, or WFS as it is better known, is a JointVenture with Absa Bank, that supports the Woolworths retailbusiness by providing in-storecredit inthe formof the Woolworths StoreCard andoffering value-addedservices including credit cards, personal loans and short-terminsurance as well as life insurance linked to otherproducts.

Job Description MAIN PURPOSE The Commercial Lead, Insurance role is responsiblefor cascading the overarching WFS Insurance Product strategy andoperationalizing this to propel new and existing product growth strategies(i.e., business volumes, ECM growth targets and Woolworths Sales targets)pertaining to the Woolworths Financial Services (WFS) Insurance business, withthe aim of strengthening revenue yields and sustaining positive cashflows. Inaddition, the role is required to build and shape Insurance offerings thataddress both existing customers' immediate needs and cater to other needs froman emerging customer base, to provide a compelling Customer Value Proposition(CVP). The role has elements of "run" and "grow" factors across the full valuechain (Sell, Serve and Claim)ofinsurance that includes new product Go-To-Market development, commercial andoperational optimization for both new and existing product and ensuring theexecution of all regulatory and compliance elements are achieved.

Key areas of focus include:

• Strategic Contribution
• Revenue and Commercial Optimization
• Data-driven Campaign/Project Management
• Partner and Stakeholder Relationships
• People Management
• Productcompetitive and research

KEY RESPONSIBILITIES Strategic Contribution

• Participate in the crafting of the Insurancestrategy relevant to the Commercial business, based on an understanding of theWoolworths Financial Services (WFS) context and aligned to WFS practices.
• Set frameworks for the presentation of nascentproduct concepts to customers in a way that will reliably capture customerinsights.
• Operationalize the product strategy for theInsurance business, positioning it as an accelerator of the established CVP,and a driver of value and revenue creation.
• Consider the critical shifts, touchpoints, andinterdependencies between the WFS Insurance business and other WFS businessareas; identify and build the requisite Insurance capabilities to leverageefficiencies between businesses and associated CVPs.

Revenue and Commercial Optimisation

• Identify and understand current Insurance customers' journeys,paying close attention to key successes and challenges, to enhance the customerexperience.
• Employ customer experience concepts and systems thinking toidentify what the target-state customer journey entails and operationalizeplans to progress towards it.
• Elevate research insights to focus the Insurance strategy ondistinct customer needs, preferences, and Insurance appetite, thereby elevating the product portfolio's value proposition to WFS's existing and target customerbases to offer compelling and attractive offerings.
• Employ Cost Benefit Analysis techniques to gauge the comparativevalue and opportunities of pursuing various Insurance offerings.
• Build and manage the interactions between customers and theInsurance business to enhanced perceived value of the Insurance CVP.
• Create and implement operational plans to achieve the scalabilityrequirements of the Commercial business, driving process efficiencies withinInsurance which have a positive impact on the Insurance income statement.
• Sustain WFS's existing customer base and build an expandedcustomer base through an indispensable value proposition, by enhancing the ability to accurately forecast Insurance revenue.
• Recommend adjustments to current and new Insurance offerings asearly customer perceptions of both existing and new products shape the CVP.
• Quantify metrics and targets for success and leverage associatedmarket intelligence to create tactics and value propositions that resonate withWFS customers.
• Assess value propositions and new Insurance offerings againstWFS's risk appetite, identifying commercial opportunities that reside withinthe risk threshold.
• Identify innovation opportunities for Insurance that offer themaximum commercial potential and the highest propensity to increase or changeprescribing customer behavior.
• Build and implement new offerings that are aligned to the CVP anddesign go-to-market strategies that will nudge customers towards investing intodiversified Insurance products.
• Leverage commercial levers, i.e., retention, sales,balance protection) to drive profitability, revenue growth and increases incustomer uptake year-on year.

Data-driven Campaign/Project Management

• Utilize design thinking methodologies to guidethe delivery of a range of Insurance projects and products, clearlyarticulating customer touchpoints and customer journeys.
• Develop and embed business analytics as a capability todeliver meaningful and valuable insights to drive strategic solutions.
• Identify and leverage common goals between plannedinitiatives. Provide guidance to the business on ensuring integration betweenthe objectives and the coordination of timelines and impacts on othersub-functional areas in the WFS business.
• Manage foreseeable risks by adequately capacitating thecampaign/project teams to identify risk and to drive efficient project andprogramme delivery.
• Integrate campaigns/projects across the Insurance business("grow the business" and "change the business"), in linewith capacity plans and business goals. Drive efficiencies and balancepriorities.
• Review campaign/project plans and ensure that adequateplanning and execution mechanisms are in place for communication, stakeholderengagement and monitoring of impacts.
• Participate in the approval of project business cases todetermine the accuracy of assumptions used for the financial calculations oncost and benefit.
• Manage the go-to-market practices for new products as wellas their evolution into revenue generating and commercially viable products.
• Develop pricing models that accurately reflectthe worth of Insurance offerings, considering the cost of their developmentand/or cost of leveraging Insurance products underwritten by other ThirdParties, as well as any other peripheral costs (i.e., marketing of products andservices).
• Evaluate pricing models and estimates; setpolicies on pricing and clarify base pricing and any discounts that may beoffered to front book customers to stimulate Insurance product uptake.
• Consider the Insurance CVP, and shape themessage being portrayed to customers on a dynamic basis, by setting prices at aparticular level - ensure that the pricing models employed are consistent withthe targeted customer segment.
• Monitor and evaluate the success of pricingframeworks, based on the uptake of Insurance offerings and other pertinentmetrics.
• Determine the accuracy of assumptions used forthe financial calculations on cost versus benefit.

Partner and Stakeholder Relationships

• Leverage strategic external partnerships tobolster capabilities in the commercialization of Insurance products (i.e.,either from the Insurance market and/or with FSI Insurance partners).
• Manage existing strategic vendors and associatedengagements (i.e., Third Parties involved in the Insurance value chain,technological/digital partners, financial institutions, and providers ofInsurance products to the benefit of WFS.
• Lead the management and integration of Insuranceinto external WFS's partners and internally across the Insurance productlandscape to initiate new engagement opportunities and strengthen existingsynergies.
• Establish relationships with key stakeholders toenable decisions regarding solutions that are practical and viable from acommercial perspective; effectively aligning the product solution to thedeveloped strategy.
• Understand the systemic nature of stakeholderengagement, which recognizes the individual components as well as critical keyintegration points relating to products, customers, associated growthopportunities and complementary WFS sub-functional partnerships, to effectivelyrealize both "grow" and "run" strategic ambitions.

People Management

• Lead the Team according to WFS's leadershipprinciples and values, including employee lifecycle from recruitment through toexit, performance management, training and development, discipline andgrievance management, retention, and reward and people administration toensure a high-performance culture.
• Define best practices relating to thecommercialization of the Insurance business; guide the wider Insurancecommunity as a subject matter expert to develop a common understanding acrossWFS.
• Prepare the Commercial budget as a component ofthe Insurance budget and manage financial performance against the budget toidentify cost-saving opportunities.
• Maintain and apply a broad understanding offinancial management principles to ensure decisions are fiscally sound andresponsible.
• Monitor the overall performance of theCommercial business and recommend adjustments in the allocation of financesbased on progress against goals.

Requirements MINIMUM QUALIFICATION

• FAIS Accreditation across Life and Short-Termproduct categories for RE1 Rep and RE5 Key Individual are preferred

EXPERIENCE REQUIRED

• 8 - 10years of experience working in a Financial Services organisation, with specificreference to Insurance . click apply for full job details