Commercial Insurance Underwriter

Placements24; George; Hybrid; ZAR 500,000 - 700,000; Full time

Benefits offered by this job

Competitive salary and incentives

Medical aid

Retirement fund contributions

Professional development

Job summary

Placements24 is seeking an experienced Commercial Insurance Underwriter for our George, Western Cape office. This hybrid role blends in-office collaboration with remote work, focusing on evaluating, selecting, and pricing commercial risks while building strong broker relationships.

The ideal candidate has at least four years in commercial underwriting, strong analytical skills, and a proven track record of profitable portfolio management in Property, Liability and Business Interruption lines.

Qualifications

• 4+ years of experience in commercial insurance underwriting.
• Strong analytical, negotiation, and decision-making skills.
• Proficiency with underwriting systems and MS Office.
• Ability to work effectively in a hybrid work environment.

Responsibilities

• Underwrite new and renewal commercial insurance business, ensuring profitability and compliance with guidelines.
• Analyze financial statements, loss runs, and data to assess risk exposures.
• Develop and maintain relationships with brokers and agents.
• Negotiate terms, conditions, and pricing with brokers to secure profitable business.
• Monitor portfolio performance and take actions to manage risks.
• Keep abreast of market trends, competitor activities and regulatory changes.
• Provide guidance to junior underwriters and collaborate with claims and other departments.

Skills

Analytical thinking

Negotiation

Portfolio management

Stakeholder management

Education

Bachelor's degree in Business/Finance

Tools

Underwriting systems

Microsoft Office

Job description

About the Role

Our client is seeking an experienced Commercial Insurance Underwriter to join their growing team in George, Western Cape. This hybrid role offers the opportunity to blend in-office collaboration with the flexibility of remote work. You will be responsible for evaluating, selecting, and pricing commercial insurance risks, developing strong relationships with brokers, and contributing to the profitability of the business unit. This position requires a keen understanding of commercial lines of business, risk assessment, and market dynamics within the insurance landscape of South Africa. You will play a crucial role in identifying profitable opportunities and managing a portfolio of commercial clients, ensuring sound underwriting practices. The ideal candidate will possess strong analytical skills and a commercial acumen to drive success in this challenging yet rewarding role.

Key Responsibilities

• Underwrite new and renewal commercial insurance business, ensuring profitability and compliance with company guidelines.
• Analyze financial statements, loss runs, and other relevant data to assess risk exposures.
• Develop and maintain strong relationships with brokers and agents.
• Negotiate terms, conditions, and pricing with brokers to secure profitable business.
• Monitor portfolio performance and take appropriate action to manage risks.
• Keep abreast of market trends, competitor activities, and regulatory changes within the insurance sector.
• Provide guidance and support to junior underwriters and support staff.
• Collaborate with claims and other departments to ensure a seamless customer experience.

Requirements

• Relevant degree or tertiary qualification in Business, Finance, or a related field.
• Minimum of 4 years of experience in commercial insurance underwriting.
• Proven track record of successful underwriting and portfolio management.
• Strong understanding of commercial lines of business (e.g., Property, Liability, Business Interruption).
• Excellent analytical, negotiation, and decision-making skills.
• Proficiency in underwriting systems and Microsoft Office Suite.
• Effective communication and interpersonal skills, with the ability to build rapport with stakeholders.
• Ability to work effectively in a hybrid work environment.

Benefits

• Competitive salary and performance-based incentives.
• Comprehensive medical aid and retirement fund contributions.
• Opportunities for professional development and career progression.
• Hybrid work model promoting work-life balance.
• Exposure to a diverse range of commercial risks and industries.
• Contribution to the strategic growth of a reputable insurance provider.