Insurance Underwriting Specialist

Placements24; Mbombela (Nelspruit); On-site; ZAR 420,000 - 780,000; Full time

Benefits offered by this job

Competitive salary

Bonus opportunities

Medical benefits

Retirement benefits

Professional development

Supportive work environment

Underwriting tools

Paid time off

Career advancement

Job summary

Placements24 is seeking an Insurance Underwriting Specialist in Nelspruit, Mpumalanga. The role focuses on evaluating applications, calculating premiums, and ensuring compliance with underwriting standards.

Strong analytical skills and 3–5 years of underwriting experience are required. The position offers a competitive salary with performance-based bonus potential, and opportunities for professional development within a supportive team.

Qualifications

• Bachelor's degree in Finance, Business Administration, Risk Management, or related field.
• 3–5 years of experience in insurance underwriting.
• Strong analytical and decision-making abilities.
• Proficiency in underwriting software and MS Office Suite.

Responsibilities

• Review applications to determine risk acceptability and coverage terms.
• Analyze applicant information including financial data and risk factors.
• Calculate and set premiums based on risk and guidelines.
• Ensure underwriting decisions comply with policies and regulations.
• Communicate decisions with brokers, agents, and clients.
• Maintain accurate records of underwriting activities.
• Identify risks and propose mitigations.
• Assist in training junior underwriters.
• Refine underwriting guidelines and procedures.
• Stay updated on industry trends.

Skills

Analytical skills

Decision-making

Communication skills

Detail-oriented

Teamwork

Education

Bachelor's degree in Finance/Business Administration/Risk Management

Tools

Underwriting software

MS Office

Job description

About the Role

Our client, a reputable and established insurance company, is seeking a dedicated and knowledgeable Insurance Underwriting Specialist to join their team in Nelspruit. This role requires a keen eye for detail and a strong understanding of risk assessment to evaluate insurance applications and determine appropriate coverage and premiums. You will play a vital role in ensuring the profitability and stability of the company by making informed underwriting decisions. The ideal candidate will have a solid background in insurance underwriting, excellent analytical skills, and a commitment to upholding underwriting standards. This is a great opportunity to contribute to a well-respected organization within the Mpumalanga region, based in Nelspruit.

Key Responsibilities

• Review and assess insurance applications to determine risk acceptability and coverage terms.
• Analyze applicant information, including financial data, risk factors, and historical records.
• Calculate and set appropriate premium rates based on risk assessment and company guidelines.
• Ensure all underwriting decisions comply with company policies, procedures, and regulatory requirements.
• Communicate with brokers, agents, and clients to gather necessary information and explain underwriting decisions.
• Maintain accurate and detailed records of underwriting activities.
• Identify potential risks and develop strategies to mitigate them.
• Assist in the training and mentoring of junior underwriting staff.
• Contribute to the refinement of underwriting guidelines and procedures.
• Stay updated on industry trends and changes in risk assessment techniques.

Requirements

• A Bachelor's degree in Finance, Business Administration, Risk Management, or a related field.
• Minimum of 3-5 years of experience in insurance underwriting.
• Strong analytical and decision-making skills.
• Excellent understanding of insurance principles and risk assessment methodologies.
• Proficiency in underwriting software and MS Office Suite.
• Strong communication and interpersonal skills.
• Detail-oriented with a high level of accuracy.
• Familiarity with the Nelspruit or Mpumalanga insurance market is a plus.
• Ability to work independently and as part of a team.
• Relevant insurance certifications are advantageous.

Benefits

• Competitive annual salary.
• Performance-based bonus opportunities.
• Comprehensive medical and retirement benefits.
• Opportunities for professional development and continuing education.
• A supportive and collaborative work environment in Nelspruit.
• Access to modern underwriting tools.
• Generous paid time off.
• Career advancement potential within the company.