Executive Underwriter MMH260818-15

Momentum; Sandton; On-site; ZAR 300,000 - 420,000; Full time

Job summary

Momentum seeks an experienced underwriter to evaluate, review and analyse insurance applications, determine client risk and provide recommendations on approval or rejection. You will collaborate with internal stakeholders to ensure compliant, timely decisions.

The role requires a background in finance or business, several years in underwriting, knowledge of legislation and underwriting processes, and experience with underwriting software.

Qualifications

• B-Degree in Business, Finance, or related field is required.
• Grade 12 or equivalent qualification is required.
• 3-5 years underwriting experience is required.
• Experience in financial services is required.
• Knowledge of relevant legislation and provisions is required.
• Knowledge of underwriting software is required.
• Knowledge of underwriting principles and guidelines is required.
• Knowledge of underwriting application process is required.

Responsibilities

• Analyse and evaluate insurance applications against set criteria to determine the clients risk to the business.
• Contact relevant stakeholders, such as medical personnel, to obtain information relevant to the clients application, such as background and financial status.
• Make recommendations on the clients application and determine if this should be approved or rejected based on set criteria.
• Maintain detailed records of policies underwritten and decisions made in line with organisational policies and relevant legislation.
• Escalate client applications as and when necessary where risk is uncertain or approval and rejection is unclear.
• Maintain internally set service level agreements to ensure applications are processed timeously.

Skills

Underwriting experience

Financial services knowledge

Education

B-Degree in Business, Finance, or related field

Grade 12 or equivalent qualification

Tools

Underwriting software

Job description

Evaluate, review and analyse insurance applications and screen applicants against set criteria in order to determine client risk and provide recommendations on approval or rejection of applications.

Requirements

• B-Degree in Business, Finance, or related field
• Grade 12 or equivalent qualification
• 3-5 years underwriting experience
• Experience in financial services
• Knowledge of relevant legislation and provisions
• Knowledge of relevant underwriting software
• Knowledge of underwriting principles and guidelines
• Knowledge of underwriting application process

Duties and Responsibilities

INTERNAL PROCESSES

• Analyse and evaluate insurance applications against set criteria in order to determine the clients risk to the business.
• Contact relevant stakeholders, such as medical personnel, to obtain information relevant to the clients application, such as background and financial status.
• Make recommendations on the clients application and determine if this should be approved or rejected based on set criteria.
• Maintain detailed records of policies underwritten and decisions made in line with organisational policies and relevant legislation.
• Escalate client applications as and when necessary where risk is uncertain or approval and rejection is unclear.
• Maintain internally set service level agreements to ensure applications are processed timeously.

CLIENT

• Provide authoritative, expertise and advice to clients and stakeholders.
• Build and maintain relationships with clients and internal and external stakeholders.
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed.
• Make recommendations to improve client service and fair treatment of clients within area of responsibility.
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

PEOPLE

• Positively influence and participate in change initiatives. Develop and maintain productive and collaborative working relationships with peers and stakeholders.
• Continuously develop own expertise in terms of professional, industry and legislation knowledge.
• Contribute to continuous innovation through the development, sharing and implementation of new ideas.
• Take ownership for driving career development.

FINANCE

• Contribute to the financial planning process within area.
• Identify opportunities to enhance cost effectiveness and increase operational efficiency.
• Manage financial and other company resources under your control with due respect.
• Provide input into the risk identification processes and communicate recommendations in the appropriate forum.