Commercial Insurance Underwriter

Placements24; Polokwane; On-site; ZAR 600,000 - 780,000; Full time

Benefits offered by this job

Health insurance

Pension fund contributions

Training programs for underwriting

Job summary

Placements24 in Polokwane seeks an experienced Commercial Insurance Underwriter to assess and accept risks for commercial clients, developing tailored solutions and building broker relationships. You will analyze complex risks and contribute to portfolio growth from small enterprises to larger corporations.

The role requires 4+ years in underwriting, a commerce-related degree, and strong analytical skills. Relocation to Polokwane is expected, with opportunities for professional development and a

Qualifications

• Bachelor's degree in Commerce, Finance, Economics, or related field.
• Minimum 4 years of experience in commercial insurance underwriting.
• Strong knowledge of property, liability, and fleet insurance lines.
• Excellent analytical and risk assessment skills; proficient in underwriting software.
• ACII or equivalent qualification is desirable; willing to relocate to Polokwane.

Responsibilities

• Analyze financial statements, operations, and risk exposures to determine insurability.
• Develop underwriting strategies and guidelines for commercial products.
• Set premiums and terms for policies.
• Negotiate with brokers to secure profitable business.
• Manage a portfolio of commercial accounts for profitability and retention.
• Collaborate with sales, claims, and actuarial teams to provide solutions.
• Conduct site visits to assess risks when required.
• Ensure adherence to underwriting authority and risk appetite.

Skills

Analytical skills

Negotiation

Communication

Risk assessment

Education

Bachelor's degree in Commerce, Finance, Economics

Tools

Underwriting software

MS Office

Job description

About the Role Our client is a prominent and rapidly expanding insurance firm seeking a skilled Commercial Insurance Underwriter to join their esteemed team in Polokwane. This role is critical in assessing and accepting risks for commercial clients, ensuring the profitability and sustainability of the company's insurance portfolio. The successful candidate will leverage their expertise to analyze complex business risks, develop tailored insurance solutions, and build strong relationships with brokers and agents. We are looking for a proactive individual with a keen eye for detail and a strategic mindset to contribute to the growth of our commercial lines business in the Polokwane region. This is an opportunity to join a reputable organization that values professional development and offers a stable and challenging career path. You will be responsible for managing a diverse portfolio of commercial risks, from small enterprises to larger corporations, requiring a broad understanding of various industries and their unique exposures. The position involves close collaboration with the sales and claims departments to ensure a cohesive approach to client service and risk management. This role is based at our Polokwane office and requires a dedicated professional who is committed to excellence in underwriting and client satisfaction. Your insights into market trends and risk appetites will be crucial in shaping our underwriting strategy.

Key Responsibilities

• Analyze financial statements, business operations, and risk exposures to determine the insurability of commercial risks.
• Develop and implement underwriting strategies and guidelines for commercial insurance products.
• Set appropriate premium rates and terms and conditions for policies.
• Negotiate with brokers and agents to secure profitable business.
• Maintain and manage a portfolio of commercial insurance accounts, ensuring profitability and retention.
• Stay abreast of industry trends, market changes, and regulatory developments impacting commercial insurance.
• Collaborate with internal teams, including sales, claims, and actuarial, to provide comprehensive solutions.
• Conduct site visits or inspections as necessary to assess risks.
• Contribute to product development and enhancement initiatives.
• Ensure adherence to underwriting authority limits and company risk appetite.

Requirements

• Bachelor's degree in Commerce, Finance, Economics, or a related discipline.
• A minimum of 4 years of experience in commercial insurance underwriting.
• Strong understanding of various commercial insurance lines (e.g., property, liability, fleet).
• Excellent analytical, decision-making, and risk assessment skills.
• Proficiency in underwriting software and Microsoft Office Suite.
• Exceptional negotiation and communication skills, both written and verbal.
• Ability to build and maintain strong relationships with external stakeholders.
• Detail-oriented with a high level of accuracy.
• A professional qualification such as ACII or equivalent is highly desirable.
• Residency or willingness to relocate to Polokwane.

Benefits

• Attractive base salary with potential for annual bonuses based on performance.
• Comprehensive health insurance coverage.
• Generous pension fund contributions.
• Opportunities for continuous learning and professional certifications.
• A supportive team environment with a focus on collaboration.
• Company-provided training programs to enhance underwriting expertise.
• Access to industry conferences and networking events.
• Paid time off for personal and professional development.
• Potential for career progression into senior underwriting or management roles.
• Employee assistance programs for well-being support.