Insurance Underwriter - Life

Placements24; Soweto; On-site; ZAR 500,000 - 900,000; Full time

Benefits offered by this job

Medical aid

Provident fund

Annual leave

Performance incentives

Career growth

Job summary

Placements24 in Soweto, Gauteng is seeking a meticulous Life Insurance Underwriter to assess risk and determine insurability for life insurance applications. You will review medical histories, lifestyle details, and financial documentation to set appropriate premiums.

The role requires a bachelor’s degree in Finance, Actuarial Science, or Health Sciences, at least 3 years of underwriting experience, and proficiency with underwriting software and MS Office.

Qualifications

• Bachelor's degree in Finance, Actuarial Science, or Health Sciences.
• At least 3 years' life insurance underwriting experience.
• Strong knowledge of underwriting guidelines and products.
• Proficiency with underwriting software and MS Office.

Responsibilities

• Review life insurance applications for risk and insurability.
• Analyze medical records, lifestyle, and financial docs.
• Apply underwriting guidelines consistently.
• Calculate premiums based on risk assessment.
• Identify potential fraud or misrepresentation.
• Coordinate with applicants, agents, and medical professionals.
• Maintain accurate underwriting records.
• Ensure regulatory compliance and standards.
• Stay informed on medical trends and underwriting practices.
• Collaborate with sales and claims for underwriting input.

Skills

Analytical skills

Attention to detail

Communication

Independent work

Underwriting knowledge

Education

Bachelor's degree in Finance/Actuarial Science/Health Sciences

Tools

Underwriting software

Microsoft Office

Job description

About the Role

Our client, a respected life insurance company based in **Soweto, Gauteng**, is seeking a meticulous and experienced Life Insurance Underwriter to join their team. This vital role involves evaluating and assessing the risk associated with life insurance applications. You will be responsible for analyzing applicant information, including medical history, lifestyle, and financial background, to determine insurability and set appropriate premiums. The successful candidate will possess strong analytical skills and a thorough understanding of life insurance underwriting principles. This is an excellent opportunity for an individual looking to advance their career in the insurance sector within **Soweto**.

Key Responsibilities

• Review and assess life insurance applications to determine risk factors and insurability.
• Analyze medical reports, lifestyle questionnaires, and financial documentation.
• Apply underwriting guidelines and company policies consistently.
• Calculate and quote appropriate premiums based on risk assessment.
• Identify potential fraud or misrepresentation in applications.
• Communicate with applicants, agents, and medical professionals as needed.
• Maintain accurate and organized records of underwriting decisions.
• Ensure compliance with all relevant regulatory requirements and industry standards.
• Stay informed about changes in medical knowledge, mortality trends, and underwriting practices.
• Collaborate with the sales and claims departments to provide underwriting expertise.

Requirements

• Bachelor's degree in a relevant field such as Finance, Actuarial Science, or Health Sciences.
• Minimum of 3 years of experience in life insurance underwriting.
• Thorough knowledge of life insurance products and underwriting practices.
• Strong analytical, critical thinking, and decision-making skills.
• Excellent attention to detail and accuracy.
• Proficiency in underwriting software and Microsoft Office Suite.
• Good interpersonal and communication skills.
• Ability to work independently and manage workload efficiently.
• Relevant professional underwriting qualifications are a strong advantage.
• Familiarity with the **Soweto** community and its demographic nuances is beneficial.

Benefits

Our client offers a competitive salary package, comprehensive medical aid, and a provident fund. Employees benefit from ongoing training programs and opportunities for professional growth and career advancement within the life insurance industry. The role is office-based in **Soweto**, providing a stable and collaborative work environment. Enjoy benefits such as annual leave, performance-based incentives, and the opportunity to contribute significantly to a reputable financial institution in **Gauteng**.