Balancing Risk and Reward: Thabo Twalo’s Approach to Underwriting

Tony sits down with Thabo Twalo, Chief Underwriting Officer at Santam Broker Solutions, for a deep dive into one of the most critical, yet often misunderstood, aspects of insurance, risk management. Thabo brings clarity, real-world insight and decades of experience to a conversation that every broker, business owner and insurance professional should hear.

Thabo explains why risk management is not an add-on to underwriting, but the centre of everything: from risk selection and risk sharing, to risk capacity allocation and the everyday measures clients take to safeguard their assets. He unpacks the role of surveys, tracking devices, sprinklers, fire systems and even simple housekeeping – showing how each contributes to a healthier risk environment.

Listeners will gain an inside view of how Santam balances protecting the insurer, supporting brokers, and empowering clients to participate actively in their own risk reduction. Thabo also opens up about the industry's skills shortage, Santam’s investment in broker training, and why their new Risk Identification & Assessment (RIA) programme may be a game-changer.

Ultimately, this episode is about partnership: insurers, brokers and clients working together to reduce risk, avoid the trauma of loss, and keep businesses operational.

Whether you’re a seasoned underwriter, a broker looking to deepen your value proposition, or simply curious about the mechanics behind your insurance premium, this interview offers practical lessons and powerful insights you won’t want to miss.‍

Key Points to Highlight

• Underwriting depends on four pillars of risk management: risk selection, risk sharing, risk mitigation, and risk capacity allocation.
• Santam uses surveys, inspections and risk requirements to ensure clients actively protect their assets.
• A mix of mandatory requirements and incentives helps drive stronger risk management compliance.
• Santam provides extensive broker training, including the new Risk Identification & Assessment (RIA) module.
• Brokers gain competitive advantage by offering risk management expertise, not just price comparisons.
• Clients are increasingly proactive, implementing housekeeping, CCTV, sprinkler systems, tracking devices and more.
• Effective risk management keeps businesses operational – preventing costly disruptions.
• The alignment between insurer, broker and client is essential: everyone benefits when risk is reduced.

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