Commercial Underwriter

Hr Options; Pretoria; On-site; ZAR 500 000 - 700 000; Full time

Job summary

A specialized recruitment agency is seeking an experienced commercial underwriter in Pretoria, South Africa. The ideal candidate will have a minimum of five years in commercial underwriting, responsible for risk assessments, underwriting decisions, and building strong relationships with clients and brokers. This role requires a keen understanding of compliance and product development within the commercial insurance sector.

Qualifications

• Minimum of five years of relevant commercial underwriting experience.
• Ability to analyse and interpret commercial risks.
• Strong negotiation skills.

Responsibilities

• Review applications and financial statements to assess risk.
• Make informed underwriting decisions and negotiate terms.
• Manage an assigned book of business and monitor profitability.
• Develop and maintain client relationships.
• Ensure compliance with regulatory requirements.

Skills

Risk Assessment and Analysis

Underwriting Decisions

Portfolio Management

Broker and Client Relationship Management

Compliance and Documentation

Education

Matric

Commercial Lines Class of Business Regulatory Exam Level 1

NQF 5 in Short-Term Insurance

Job description

Our client is looking for a commercial underwriter that will be able to do the following : Risk Assessment and Analysis : Analyse and interpret data related to commercial risks, including property, liability, motor, engineering, and other short-term insurance lines.

Review applications, inspection reports, and financial statements to determine the degree of risk for potential clients.

Assess external factors affecting risk, such as economic trends, regulatory changes, and claims history.

Underwriting Decisions : Make informed decisions about whether to accept or decline insurance applications.

Determine appropriate terms, coverage limits, premiums, and conditions for policies.

Negotiate terms and conditions with brokers and clients within delegated authority.

Portfolio Management : Manage an assigned book of business, monitoring performance and profitability.

Regularly review the portfolio for adverse trends and take corrective action where necessary.

Renew existing policies and adjust terms based on updated risk evaluations.

Broker and Client Relationship Management : Develop and maintain strong relationships with insurance brokers, agents, and direct clients.

Provide expert advice and guidance on insurance solutions, policy wording, and claims processes.

Deliver responsive, professional service to ensure high levels of broker and client satisfaction.

Conduct client and broker visits as required to deepen understanding of risks and business operations.

Compliance and Documentation : Ensure all underwriting activities comply with company policies, regulatory requirements, and best practices.

Accurately document decisions, correspondence, and policy details in the underwriting system.

Participate in internal and external audits as required.

Product Development and Innovation : Contribute to the development and refinement of insurance products by providing underwriting insights and suggestions.

Keep abreast of emerging risks, technologies, and trends in the commercial insurance market.

Participate in product launches and training sessions for brokers and clients.

Claims Collaboration : Work closely with the claims department to understand loss trends and improve underwriting guidelines.

Assist in complex claim investigations where underwriting input is required.

Formal education : Matric Commercial Lines Class of Business Regulatory Exam Level 1 NQF 5 in Short-Term Insurance A minimum of five years of relevant commercial underwriting experience