Insurance Underwriter Specialist

Placements24; George; Hybrid; ZAR 700,000 - 920,000; Full time

Benefits offered by this job

Medical aid

Retirement fund contributions

Generous leave

Job summary

Placements24 is seeking an Insurance Underwriter Specialist in George, Western Cape, offering a hybrid role that blends remote flexibility with in-office collaboration. The position focuses on risk assessment, pricing, and sound underwriting practices to support profitability and solvency within the insurance sector.

The role requires a Bachelor's degree in a related field and 4+ years in insurance underwriting, with strong analytical skills and proficiency in underwriting software.

Qualifications

• Bachelor’s degree in finance, economics, business administration, or related field.
• Strong analytical and quantitative abilities with data interpretation.
• Solid understanding of risk assessment and market dynamics.
• Proficiency in underwriting software and statistics tools.
• Excellent communication with internal and external stakeholders.
• Hybrid work experience and ability to balance remote and in-office duties.

Responsibilities

• Analyze insurance applications to assess risk and eligibility.
• Calculate and quote premiums based on risk and client data.
• Develop underwriting guidelines to ensure profitability.
• Collaborate with agents and brokers for policy details.
• Monitor market trends to adapt strategies.
• Maintain records of underwriting decisions and policies.
• Mentor junior underwriters and support sales teams.

Skills

Analytical thinking

Quantitative skills

Risk assessment

Communication

Education

Bachelor's degree in Finance/Economics/Business Administration

Tools

Underwriting software

Job description

About the Role

Our client, a prominent player in the insurance industry, is seeking a meticulous and analytical Insurance Underwriter Specialist to join their team in George. This hybrid role offers a blend of remote flexibility and in-office collaboration, allowing you to contribute effectively while maintaining a healthy work-life balance. As an Underwriter Specialist, you will be responsible for assessing and pricing insurance risks, ensuring the profitability and solvency of the company. You will analyze applications, gather crucial data, and make informed decisions on policy issuance. This position requires a keen eye for detail, a strong understanding of risk management principles, and the ability to interpret complex financial and statistical information. The George office will serve as your primary hub, with opportunities to engage with colleagues and stakeholders both in person and virtually. We are looking for an individual who is passionate about the insurance sector and possesses the skills to navigate its intricacies. This role is crucial in maintaining the company's competitive edge and ensuring sound underwriting practices. Your expertise will be valued in a supportive environment that encourages professional development and career advancement within the insurance field. The Western Cape region is a key area of focus for our operations, and this role plays a significant part in our regional strategy. Embrace this opportunity to grow your career in a hybrid model that prioritizes both productivity and personal well-being.

Key Responsibilities

• Analyze insurance applications to assess risk exposure and determine policy eligibility.
• Calculate and quote premiums based on risk assessment, considering various factors such as client history, industry trends, and coverage levels.
• Develop underwriting guidelines and standards to ensure consistency and profitability.
• Collaborate with agents and brokers to gather necessary information and clarify policy details.
• Monitor market trends and competitor activities to adapt underwriting strategies.
• Review and manage existing policies, making adjustments as needed based on changes in risk profiles.
• Identify opportunities for new product development or enhancements based on market insights.
• Maintain accurate records of underwriting decisions and policy information.
• Provide guidance and support to junior underwriters and the sales team on underwriting matters.

Requirements

• A Bachelor's degree in Finance, Economics, Business Administration, or a related field.
• Minimum of 4 years of experience in insurance underwriting, with a focus on specific lines of business (e.g., Commercial, Personal, Life).
• Strong analytical and quantitative skills, with the ability to interpret complex data.
• Excellent understanding of risk assessment principles and insurance market dynamics.
• Proficiency in underwriting software and relevant statistical analysis tools.
• Effective communication and interpersonal skills for collaborating with internal and external stakeholders.
• Ability to make sound judgments and decisions under pressure.
• Professional certifications (e.g., FLMI, AINS) are a significant advantage.
• Familiarity with the insurance landscape in the Western Cape is beneficial.
• Willingness to adhere to a hybrid work schedule, balancing remote and in-office duties.

Benefits

• Competitive annual salary and potential for performance-based bonuses.
• Comprehensive medical aid and retirement fund contributions.
• Generous annual leave and sick leave benefits.
• Opportunities for continuous learning and professional development through industry courses and workshops.
• A modern office environment with excellent amenities.
• Flexible working arrangements as part of the hybrid model.
• Life insurance and disability cover.
• Employee wellness programs and initiatives.
• Clear career progression pathways within the company.