Commercial Insurance Underwriter

Placements24; Gauteng; On-site; ZAR 600,000 - 800,000; Full time

Benefits offered by this job

Medical aid

Retirement annuities

Career progression

Training programs

Job summary

Placements24 in Gauteng is seeking a Commercial Insurance Underwriter to join our client’s growing team in Tembisa. You will assess and price commercial risks, determine premiums, and make sound acceptance decisions while adhering to underwriting guidelines.

Ideal candidates have 4+ years of commercial underwriting experience, strong analytical and negotiation skills, and familiarity with underwriting software.

Qualifications

• Minimum 4 years of experience in commercial insurance underwriting.
• Strong understanding of commercial lines and risk assessment.
• Ability to analyze financial statements and exposures.
• Proficient in underwriting software and MS Office.
• Professional qualifications like ACII/FLMI are advantageous.

Responsibilities

• Analyze and assess commercial insurance applications.
• Determine premiums and terms based on risk and guidelines.
• Maintain broker/agent relationships to grow business.
• Monitor portfolio performance and take corrective actions.
• Ensure compliance with underwriting policies and regulations.
• Identify risks and suggest mitigation strategies.
• Collaborate with claims to understand loss trends.
• Stay informed on market trends and emerging risks.
• Prepare reports on underwriting performance and market analysis.
• Provide guidance to junior underwriters.

Skills

Analytical skills

Decision making

Negotiation

Communication

Problem-solving

Attention to detail

Education

ACII

FLMI

Tools

Underwriting software

Office applications

Job description

About the Role

Our client, a prominent player in the insurance industry, is seeking a dedicated and astute Commercial Insurance Underwriter to join their expanding operations in Tembisa, Gauteng. This role is crucial for assessing and pricing commercial risks, ensuring the profitability and sustainability of the company's underwriting portfolio. You will be responsible for evaluating business proposals, applying underwriting guidelines, and making sound decisions on the acceptance or rejection of commercial insurance applications. The successful candidate will demonstrate strong analytical skills, a keen eye for detail, and a comprehensive understanding of commercial insurance products. This position is ideal for a professional looking to advance their career within a supportive and growth-oriented environment in Gauteng.

Key Responsibilities

• Analyze and assess commercial insurance applications, including property, liability, and business interruption risks.
• Determine appropriate premium rates and policy terms based on risk evaluation and underwriting guidelines.
• Develop and maintain strong relationships with brokers and agents to foster business growth.
• Monitor the performance of assigned underwriting portfolio and take corrective actions as needed.
• Ensure compliance with all relevant underwriting policies, procedures, and regulatory requirements.
• Identify potential risks and recommend appropriate risk mitigation strategies for clients.
• Collaborate with the claims department to understand loss trends and improve underwriting practices.
• Stay updated on market trends, competitor activities, and emerging risks within the commercial sector.
• Prepare reports on underwriting performance and market analysis.
• Provide technical guidance and support to junior underwriters and support staff.

Requirements

• A minimum of 4 years of experience in commercial insurance underwriting.
• Solid understanding of various commercial insurance lines of business.
• Proven ability to analyze financial statements and risk exposures.
• Excellent decision-making and problem-solving skills.
• Strong negotiation and communication abilities.
• Proficiency in underwriting software and standard office applications.
• Relevant professional qualifications (e.g., ACII, FLMI) are advantageous.
• Ability to work effectively under pressure and meet deadlines in a Tembisa, Gauteng setting.
• A proactive approach to identifying and managing risks.
• Team player with the ability to work independently.

Benefits

Our client provides a competitive remuneration package, including a comprehensive benefits plan covering medical aid and retirement annuities. There are significant opportunities for professional development, training programs, and career progression within the organization. Join a stable and reputable company that values its employees and fosters a collaborative work culture in Gauteng. This is a permanent, Full-time position located at our Tembisa office.