Commercial Lines Underwriter

Placements24; South Africa; Hybrid; ZAR 420,000 - 660,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

provident fund

Hybrid working model

Career development

Job summary

Placements24 is seeking a knowledgeable Commercial Lines Underwriter to join our client’s growing team in Paarl, Western Cape. The role focuses on risk assessment, policy terms, pricing and coverage for commercial clients, with a hybrid work arrangement balancing desk work and broker meetings.

You will evaluate applications, determine terms, underwrite renewals, and support brokers while staying compliant with regulatory requirements.

Qualifications

• Minimum 3 years of experience in commercial lines underwriting.
• Relevant tertiary qualification or equivalent industry experience.
• Strong knowledge of commercial insurance policies.

Responsibilities

• Evaluate commercial insurance applications and assess risks.
• Set policy terms, conditions, exclusions, and premiums.
• Underwrite new business and renewals for a portfolio.
• Collaborate with brokers to gather information and negotiate terms.
• Stay updated on market trends and regulatory requirements.
• Ensure underwriting decisions meet profitability targets.
• Provide guidance to junior underwriters when needed.
• Identify cross-selling opportunities.
• Contribute to underwriting tools and process improvements.

Skills

Analytical thinking

Negotiation skills

Communication skills

Time management

Education

Relevant tertiary qualification

Tools

Underwriting systems

MS Office Suite

Job description

About the Role Our client, a respected player in the insurance industry, is seeking a knowledgeable and detail-oriented Commercial Lines Underwriter to join their growing team in Paarl, Western Cape. This role is pivotal in assessing the risks associated with commercial enterprises, determining appropriate policy terms, pricing, and coverage. You will work closely with brokers and clients to understand their business operations and ensure adequate insurance protection. This position offers a significant career opportunity within the picturesque Cape Winelands region. We are looking for a proactive individual with strong analytical skills and a solid understanding of commercial insurance principles. The hybrid work arrangement allows for a balance between focused desk work and essential collaborative interactions, contributing to your professional development and the success of our operations in Paarl.

Key Responsibilities

• Evaluate commercial insurance applications, assessing risks related to property, liability, and business operations.
• Determine policy terms, conditions, exclusions, and premium rates based on risk analysis and underwriting guidelines.
• Underwrite new business submissions and manage renewals for an assigned portfolio of commercial clients.
• Collaborate effectively with insurance brokers and agents to gather necessary information and negotiate terms.
• Maintain up-to-date knowledge of commercial insurance products, market trends, and regulatory requirements.
• Ensure underwriting decisions are compliant with company policies and profitability targets.
• Provide technical guidance and support to junior underwriters or support staff as needed.
• Identify opportunities for cross-selling and up-selling related insurance products.
• Contribute to the development and refinement of underwriting tools and processes.

Requirements

• A relevant tertiary qualification or equivalent industry experience.
• Minimum of 3 years of experience in commercial lines underwriting.
• Sound knowledge of commercial insurance policies (e.g., Business Interruption, Public Liability, Commercial Property).
• Strong analytical and decision-making capabilities.
• Excellent communication and negotiation skills.
• Proficiency in underwriting systems and MS Office Suite.
• Ability to manage time effectively and prioritize workload in a dynamic environment.
• Experience working with brokers and understanding their needs is crucial.
• Commitment to continuous professional development within the insurance sector.

Benefits

• Competitive salary package commensurate with experience and skills.
• Contribution towards medical aid and provident fund.
• Opportunities for professional growth, including further certifications and training.
• Hybrid working model offering flexibility and work-life balance.
• Engaging work environment within the scenic community of Paarl.
• Potential for career advancement within a well-regarded insurance organization.