Property Underwriter Corporate Insurance

About the position

PROPERTY UNDERWRITER – CORPORATE AND COMPLEX RISKS

Minimum Qualifications and experience

Matric
Post graduate professional qualification preferred i.e BSC Eng
Insurance and Risk Management degree an advantage
RE qualifications compulsory
Minimum 3 years’ experience underwriting complex corporate property accounts
SA citizens only

Preferred Skills

Good knowledge of the insurance and reinsurance industry both locally and internationally
Results-driven achiever with planning and organizational skills, along with a high degree of technical orientation
Strong networking skills with national, global brokers/reinsurance brokers.
Proven track record in all aspects of underwriting -
risk assessment,
loss control,
rating and coverage development,
wording comprehension.
Excellent computer literacy
Strong time management skills and ability to operate under demanding deadlines
Ability to work independently with minimal supervision
Able to prioritize, organize tasks and time, and follow up.
Ability to work effectively within a team environment

Summary of the job:

Reporting to the Portfolio Manager, the Underwriter will be responsible for underwriting of, and where necessary, facultative reinsurance placement on, Corporate Property business. He/she is expected to assess, understand and underwrite a variety of accounts and develop sound relationships with independent brokers and local and global reinsurance brokers and markets. A good understanding of coinsurance placements and reinsurance placements is therefore required in addition to technical underwriting expertise. The primary focus of the underwriter will be to service Brokers operating in Southern Africa. The underwriter is expected to contribute towards sustaining and growing a profitable book of business whilst enhancing the brand and reputation of the company on a day-to-day basis.

Role and Responsibilities

The role includes, but is not limited to the following;

• Enhance the company brand and foster a corporate culture that promotes sustainable ethical practices.
• Support of financial and growth objectives.
• Support the marketing endeavors to achieve growth and profitability in line with the Company objectives and business plan. 
• Underwriting File Management to Support the efficient operation of Risk Administration.
• Maintain Company underwriting standards /disciplines based on required information including Insured’s Loss Ratio, Risk Concerns, Policy Loss Limits, Deductibles, proposed Wordings and any other relevant information that may affect renewal terms
• Risk assessment by analysis of risk management reports, discussion with internal and external risk managers and engineers and subsequent motivation and implementation of risk improvement recommendations.
• Technical Analysis of and technical discussions and negotiations on policy wordings
• Implement and negotiate facultative reinsurance within company appetite and monitor reinsurance placements / Slips – checking pertinent information
• Prepare Technical Rating Reviews / Client Risk Profiles / Claims history reviews / Final Checklist for completion of renewals
• Participate in broker visits, insurance industry functions and marketing events in support of broker relationship development
• Consult with management regarding unique or unusual risks to minimize adverse risk selection and to maintain the quality and profitability of the portfolio, and refer risks outside the established authority levels
• Maintain knowledge of industry trends, developments, and regulatory changes, including competitive analysis and information.
• Ensure the team complies with all relevant terms and conditions of binder and mandate
• Provide written reports in various formats, to the manager or senior executive in respect of personal and where required team progress and implementation plans.

 

 

 

 

Desired Skills:

• Analytical
• Negotiation
• Negotiation of deals
• Risk Analysis
• Risk Management
• Teamwork
• Underwriting

About The Employer:

Salary is negotiable depending on skills and experienceSA Citizens onlyApplicants not meeting the minimum requirements will not be responded to