- Underwrite all transactions assigned, within the set standards required by the company thus contributing to the productivity of the underwriting department as set out within parameters delegated to you from time to time.
- Enhance the image of the company through the continuous delivery of efficient and effective customer service.
DUTIES:
- Underwrite specific classes of business offered by company.
- Adhere to individual underwriting mandates and company guidelines to ensure responsible underwriting and profitability of their portfolio
- Approve risk selection within the boundaries of the specific product line. Quote, accept and renew risks within the agreed guidelines of the service level agreement and within delegated mandates
- Combination of both internal and external relationship development on all liability products and services to brokers that company already has a relationship with, resulting in renewals or sales
- Action all requests from credit control team
- Re-underwrite renewals to ensure organic growth and maintain profitability of portfolio
- Develop and maintain effective business relationships brokers in order to attract, develop and retain profitable business.
- Ensure all technical aspects and administrative functions of underwriting are adhered to.
- Train and mentor the team and brokers on all product lines
- To assist in placing risks that falls outside of the scope of our treaty reinsurance, into other markets locally and overseas
- Ensure that customers are treated fairly
Underwriting/Risk Analysis:
- Analyze qualitative and quantitative data prepared by and brokers to provide approval for risk selection and acceptance, coverage and price.
- Recommend creative alternatives in regards to rating plans, coverage and payment plans. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
- Decline unsuitable risks (and log these on the company decline register for record purposes).
- Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system.
Account Management:
- Meet goals for volume and value of quality new business quoted and written within company guidelines.
- Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
- Service, grow and maintain renewal policies and re-underwrite where required
- Confirm rating and cover on endorsements requested.
- Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
- Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control and sales team
Relationship Management:
- Interact on a day-to-day basis with brokers.
- Customer service: Provide timely and professional customer service to stakeholders.
- Effective communication: Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
- Market Intelligence: Sound knowledge of underwriting principles in industry.
- Innovation: Participate with management in initiatives around product development, processes, policy and strategy.
- Continuous Process Improvement: Ensure full compliance to all processes, policies and procedures and identify areas for improvement.
- Employee Growth: Take responsibility for your own career growth and have regular discussions with relevant role players. Train junior underwriters and underwriting assistants on product lines to assist in their career growth.
QUALIFICATIONS:
Minimum :
- Insurance qualification
- RE and FAIS compliance
EXPERIENCE/SKILLS:
- Minimum 2 years’ Specialist or Commercial underwriting experience.
- Experience in Commercial, General Liabilities and Professional Indemnity products advantageous.
- Underwriting experience to include:
- Product knowledge
- Industry segmentation knowledge and applicable risk exposures
- Enquiring mind – seek out additional information in order to best understand a risk before underwriting such risk
- Underwriting procedure
- Insurance terminology
- Rating principles
- Risk Management
- Market knowledge (including competitors)
- Claims procedure
- Credit Control
- Reinsurance market, reinsurance and treaties
- Financial analysis
Desired Skills:
- Commercial Insurance
- Underwriting
- specialist insurance
Desired Work Experience:
- 2 to 5 years
Desired Qualification Level:
- Certificate
About The Employer:
Our client is a specialist product insurance underwriter.
Employer & Job Benefits:
- Medical Aid
- Provident Fund