COMMERCIAL UNDERWRITER

HR Genie; Johannesburg; On-site; ZAR 500,000 - 700,000; Full time

Job summary

A recruitment agency is seeking a skilled Commercial Underwriter to analyze commercial risks, make underwriting decisions, and manage client relationships effectively. The ideal candidate will have substantial experience in underwriting, strong analytical skills, and a relevant qualification in short-term insurance. This role is pivotal for ensuring compliance and supporting product development.

Qualifications

• At least five years of relevant commercial underwriting experience.
• Regulatory Exam Level 1 certification.
• NQF 5 in Short-Term Insurance is required.

Responsibilities

• Analyzing data related to commercial risks.
• Deciding on the acceptance of insurance applications.
• Managing a portfolio of insurance policies.
• Building relationships with brokers and clients.
• Ensuring compliance with policies and regulations.
• Contributing to product development and innovation.
• Collaborating with the claims department.

Skills

Risk Assessment and Analysis

Underwriting Decisions

Portfolio Management

Broker and Client Relationship Management

Compliance and Documentation

Product Development and Innovation

Claims Collaboration

Education

Matric

Commercial Lines Class of Business

Regulatory Exam Level 1

NQF 5 in Short-Term Insurance

5+ years of relevant commercial underwriting experience

Job description

Our client is seeking a skilled Commercial Underwriter to join their team. The ideal candidate will be responsible for:

1. Risk Assessment and Analysis:
   • Analyzing data related to commercial risks across property, liability, motor, engineering, and other short-term insurance lines.
   • Reviewing applications, inspection reports, and financial statements to evaluate risk levels.
   • Assessing external factors such as economic trends, regulatory changes, and claims history that influence risk.
2. Underwriting Decisions:
   • Deciding on acceptance or rejection of insurance applications.
   • Setting appropriate terms, coverage limits, premiums, and policy conditions.
   • Negotiating terms with brokers and clients within delegated authority.
3. Portfolio Management:
   • Managing a portfolio of insurance policies, monitoring performance and profitability.
   • Reviewing the portfolio regularly for adverse trends and implementing corrective actions.
   • Renewing policies and adjusting terms based on updated risk assessments.
4. Broker and Client Relationship Management:
   • Building and maintaining relationships with brokers, agents, and clients.
   • Providing expert advice on insurance solutions, policy wording, and claims processes.
   • Ensuring high levels of satisfaction through professional and responsive service.
   • Conducting visits to clients and brokers as necessary.
5. Compliance and Documentation:
   • Ensuring all underwriting activities adhere to company policies and regulatory requirements.
   • Documenting decisions, communications, and policy details accurately.
   • Participating in audits as required.
6. Product Development and Innovation:
   • Providing insights for developing and refining insurance products.
   • Staying updated on emerging risks, technologies, and market trends.
   • Engaging in product launches and training sessions.
7. Claims Collaboration:
   • Collaborating with the claims department to analyze loss trends and improve underwriting guidelines.
   • Assisting in complex claim investigations when underwriting input is needed.

Formal education and experience requirements include:

1. Matric
2. Commercial Lines Class of Business
3. Regulatory Exam Level 1
4. NQF 5 in Short-Term Insurance
5. At least five years of relevant commercial underwriting experience