Insurance Underwriter - Commercial Property

Placements24; George; On-site; ZAR 450,000 - 800,000; Full time

Benefits offered by this job

Competitive salary

Health insurance

Retirement plan

Professional development

Annual leave

Job summary

Placements24 seeks a meticulous and analytical Insurance Underwriter for our George, Western Cape office. You will evaluate commercial property risks, determine premiums and terms, and ensure profitability aligned with risk appetite.

The role requires 4+ years in commercial property underwriting, strong financial acumen, and proficiency with underwriting software and data analysis tools. Residency in George is preferred with opportunities for professional development and competitive benefits.

Qualifications

• Bachelor’s degree in Finance, Economics, Risk Management, or related field.
• Minimum 4 years of experience in commercial property underwriting.
• Strong understanding of property valuation, exposure, and risk analysis.
• Proficient with underwriting software and data analysis tools.

Responsibilities

• Analyze and assess commercial property insurance applications and property characteristics.
• Determine acceptability of risk based on guidelines and risk management principles.
• Calculate and quote premiums and fees considering replacement cost and risk.
• Develop relationships with brokers and agents, providing expert advice.
• Review financial statements, property surveys, and loss history reports.
• Ensure underwriting activities comply with regulatory requirements and internal policies.
• Collaborate with the claims department to understand loss trends.
• Keep abreast of market developments and competitor activities in George.
• Refine underwriting tools and processes to improve efficiency.
• Prepare regular reports on underwriting performance and exposures.

Skills

Analytical thinking

Underwriting

Negotiation

Communication skills

Financial analysis

Education

Bachelor's degree in Finance/Economics/Risk Management

ACII/FLMI designation

Tools

Underwriting software

Data analysis tools

Microsoft Excel

Job description

About the Role

Our client is a prominent insurance firm seeking a meticulous and analytical Insurance Underwriter to join their established office in **George, Western Cape**. This role is critical in evaluating and accepting insurance risks for commercial property, ensuring the company's portfolio remains profitable and well-managed. You will be responsible for assessing the insurability of commercial properties, determining appropriate premiums, and setting terms and conditions that align with risk appetite. The successful candidate will possess strong financial acumen, a keen eye for detail, and a solid understanding of property-related risks and the commercial insurance market. We are looking for an individual who can contribute to our strategic growth objectives in the **George** region by making sound underwriting decisions. This is an excellent opportunity to advance your career in a reputable organization that values expertise and dedication.

Key Responsibilities

• Analyze and assess commercial property insurance applications, including detailed review of property characteristics, occupancy, fire protection, and exposure to natural hazards.
• Determine the acceptability of risk based on underwriting guidelines, policy wordings, and risk management principles.
• Calculate and quote appropriate premiums and fees, considering factors such as replacement cost, liability, and potential loss scenarios.
• Develop and maintain strong relationships with brokers and agents, providing them with expert advice and efficient service.
• Review and interpret financial statements, property surveys, and loss history reports.
• Ensure all underwriting activities comply with regulatory requirements and internal policies.
• Collaborate with the claims department to understand loss trends and inform underwriting strategy.
• Keep abreast of market developments, emerging risks, and competitor activities within the commercial property insurance sector in **George, Western Cape**.
• Contribute to the refinement of underwriting tools and processes to enhance efficiency and accuracy.
• Prepare regular reports on underwriting performance, risk exposures, and market insights.

Requirements

• Bachelor's degree in Finance, Economics, Risk Management, or a related field; relevant professional designations (e.g., ACII, FLMI) are advantageous.
• Minimum of 4 years of experience in commercial property underwriting or a closely related insurance field.
• Demonstrated expertise in property valuation, construction types, and environmental risks.
• Strong understanding of commercial insurance contracts, legal principles, and market practices.
• Excellent analytical, quantitative, and critical thinking skills.
• Superior negotiation and communication skills, with the ability to explain complex information clearly.
• Proficiency in underwriting software, data analysis tools, and Microsoft Office Suite.
• Ability to manage a diverse portfolio of risks effectively.
• Residency or strong ties to the **George** area is preferred.
• Proactive approach to continuous learning and professional development.

Benefits

• Competitive salary with potential for annual bonuses based on performance.
• Comprehensive health insurance coverage.
• Generous retirement savings plan.
• Opportunities for professional development and further certifications.
• A structured and supportive work environment in **George**.
• Exposure to a wide range of commercial property risks.
• Annual leave and other statutory benefits.