Commercial Insurance Underwriter

About the position

MINIMUM EDUCATION, EXPERIENCE & SKILLS

1. EDUCATION:
Matric.
Relevant NQF level 4 qualification – RE
5 certification.
Fit and Proper and FAIS Compliant
2. EXPERIENCE:
Minimum of 5 years commercial
underwriting experience.
Proven skills in broker relations.

Knowledge of Grail an advantage


3. KNOWLEDGE / SKILLS
Knowledge of insurance regulations and
sector developments.
Excellent product and commercial
technical knowledge.
Business acumen and financial
astuteness.
Proficiency MS Office suite.
High performance orientation and
innovative.
Excellent communication skills, articulate
& strong interpersonal skills.
Attention to detail, problem solving &
decision making, assertive and
confident.
PRINCIPLE ACCOUNTABILITIES
1. Underwriting
Assist in delivering on the region’s performance targets and achievement of objectives
by supporting with underwriting activities.
Contribute to ongoing business development and increase in sales of product
offering, through delivering on underwriting as requested.
Prepare and load new policies ensuring correct wording including acceptance of risk,
structuring of rates, terms and conditions.
Issue new business and apply rates within mandate and check against schedule from
Broker.
Consult with Portfolio Managers in decision making process on whether to accept new
business assessing the loss ratio of the client.
Maintain current business and prepare policy renewals 6 weeks prior to current
contract negotiations with Brokers and within mandate.
Development in conjunction with Portfolio Managers of new products reflecting market
requirements.
Assist in the continuous review of LBP existing product offering to ensure that it meets
client needs and prepare enhancements as needed.
Ensure that strict underwriting standards are applied to achieve required business
focus.
Ensure that all underwriting is done to standard and are profitable to achieve business
growth targets.
Ensure application of sound underwriting principles to all business quoted and or
accepted.
Ensure the application and thorough understanding of terms and conditions of the
various products offered.
Implement the risk requirements in the risk management process.
2. Administration
Maintain administration of policy portfolio and check against system.
Prepare quotations and analyse previous schedules and claims history to make
decisions on rate to apply or to decline within mandate guidelines.
Monitor excesses applied.
Ensure that all policy documentation is processed, updated and maintained including
endorsements, policy retentions, policy cancellations as advised by Broker.
Ensure risk requirements are implemented.
Assist claims department and account queries as required.
Request and provide instructions to Surveyors to conduct surveys and assess
property.
Adhere to all deadlines with regards to claims.
Assess claims history to enable decision making on increases due on excesses and
premiums.
3. Broker Relations
Maintain good relationships with brokers for improved business performance.
Negotiate new business with brokers.
Liaise with Brokers regarding all endorsements, renewals and cancellations.
Participate in Broker visits as required.
Handle and respond to all Broker queries regarding underwriting.
Provide excellent client service to Standards of Service Excellence.
Maintain and enhance customer satisfaction while living the company values with all
stakeholders.
Keep well-informed of market conditions and trends and relevant industry regulations.
Actively service a portfolio of brokers and handle all queries arising within mandate.
4. General
Participate in ad-hoc projects as required and agreed with management.
Self-development and keep abreast with industry developments.
Maintain up-to-date knowledge of Company products.
The duties and responsibilities contained in this job profile is not exhaustive, the
employer is entitled to instruct the employee at any time to carry out additional duties
or responsibilities, which fall reasonably within the ambit of the job profile, or in
accordance with operational requirements

KEY SUCCESS MEASURES 
1. FINANCIAL:
Business Plan Targets
Profitability – maintain policies
New business / Portfolio growth
Loss ratio targets
Turnaround times
2. NON-FINANCIAL:
Support to staff and business
associates
Broker queries and complaints
Customer service
Broker relations

Desired Skills:

• Business Development
• Client Service
• Risk Analysis
• Underwriting

About The Employer:

Please note that candidates not meeting the minimum requirements will not be responded to. SA citizens only