Insurance Underwriter

Placements24; Klerksdorp; On-site; ZAR 420,000 - 620,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

Retirement fund

Professional development

Performance reviews

Training and certifications

Wellness programs

Generous annual leave

Pension fund contributions

Annual bonuses

Job summary

Placements24 in Klerksdorp is seeking an Insurance Underwriter to join their on-site team. You will evaluate applications, determine eligibility, and price premiums while balancing profitability with client needs.

You will collaborate with brokers, stay updated on industry trends, and adhere to underwriting policies. A degree in a related field and several years of underwriting experience are expected, with professional certifications viewed favorably.

Qualifications

• 3–5 years of experience in insurance underwriting.
• Familiarity with South African insurance market and regulatory environment.
• Proficiency in underwriting software and related systems.
• ANZIIF or IISA certifications are highly desirable.
• Strong analytical, decision-making and communication skills.

Responsibilities

• Review and analyze insurance applications to assess risk exposure.
• Determine eligibility of applicants based on guidelines and policies.
• Calculate and quote premiums and deductibles for products.
• Approve or decline applications based on risk assessment.
• Develop and maintain relationships with brokers and agents.
• Stay informed about market trends and regulatory changes.
• Collaborate with claims and actuarial teams to ensure consistent risk management.
• Adhere to underwriting authority limits and procedures.
• Identify cross-selling opportunities and pricing adjustments.
• Conduct periodic policy reviews for insurability and pricing.

Skills

Analytical skills

Risk assessment

Decision making

Problem solving

Negotiation

Communication

Independent work

Education

Bachelor's degree in Business Administration, Finance, Economics, or a related field

Tools

Underwriting software

Job description

About the Role

Our client, a leading insurer, is looking for an astute and detail-oriented Insurance Underwriter to join their team in Klerksdorp. This is a crucial on-site role where you will be responsible for evaluating and assessing insurance applications, determining coverage eligibility, and setting appropriate premiums. The ideal candidate will possess strong analytical skills, a deep understanding of risk assessment, and the ability to make sound decisions that balance profitability with client needs. You will work within a supportive team environment, contributing to the company's success by carefully selecting and pricing risks. This is an excellent career opportunity for individuals passionate about the insurance industry and risk management.

Key Responsibilities

• Review and analyze insurance applications to assess risk exposure.
• Determine the eligibility of applicants based on company guidelines and underwriting policies.
• Calculate and quote appropriate premiums and deductibles for various insurance products.
• Approve or decline insurance applications based on risk assessment.
• Develop and maintain strong relationships with brokers and agents.
• Stay informed about industry trends, market conditions, and regulatory changes affecting underwriting.
• Collaborate with claims and actuarial departments to ensure consistent risk management practices.
• Adhere to underwriting authority limits and company procedures.
• Identify opportunities for cross-selling and up-selling related insurance products.
• Conduct periodic reviews of existing policies to ensure continued insurability and appropriate pricing.

Requirements

• A Bachelor's degree in Business Administration, Finance, Economics, or a related field.
• Relevant professional certifications (e.g., ANZIIF, IISA) are highly desirable.
• Minimum of 3-5 years of experience in insurance underwriting, preferably in personal or commercial lines.
• Strong understanding of risk assessment principles and insurance product knowledge.
• Excellent analytical, decision-making, and problem-solving skills.
• Proficiency in underwriting software and relevant insurance systems.
• Strong negotiation and communication skills.
• Ability to work independently and meet deadlines in an office setting.
• High level of integrity and attention to detail.
• Customer-centric mindset with the ability to build rapport with brokers and clients.
• Familiarity with South African insurance market and regulatory environment.

Benefits

• Competitive salary and performance-based incentives.
• Comprehensive medical aid and retirement fund benefits.
• Opportunities for professional development and advanced underwriting training.
• A stable and supportive work environment within a reputable organization.
• Regular performance reviews and clear career progression pathways.
• Company-sponsored training and certifications.
• Employee wellness programs.
• Generous annual leave.
• Pension fund contributions.
• Potential for annual bonuses.