Lead Underwriter - Motor Insurance - WhatJobs Direct

Placements24; Gauteng; On-site; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Medical aid

Retirement plan

Annual performance bonus

Job summary

Placements24 seeks a Lead Underwriter specialising in motor insurance to join their team in Tembisa, Gauteng. The role requires strategic thinking, strong risk assessment, pricing, and portfolio management leadership to drive profitability and market growth.

You will develop underwriting strategies, guide a team of underwriters, and collaborate with actuarial and product teams to optimize offerings while ensuring regulatory compliance and governance.

Qualifications

• Bachelor's degree in Finance, Actuarial Science, Economics, or a related field.
• A minimum of 7 years of progressive experience in insurance underwriting, with a strong focus on motor insurance.
• Demonstrated leadership or supervisory experience within an underwriting team.
• In-depth knowledge of motor vehicle risk factors, pricing models, and market dynamics in Gauteng and surrounding regions.

Responsibilities

• Develop, implement, and manage underwriting strategies and guidelines for motor insurance products.
• Analyze market trends, competitor activities, and emerging risks to inform underwriting decisions.
• Set underwriting authorities and guidelines for the underwriting team.
• Oversee the pricing of motor insurance policies to ensure competitiveness and profitability.
• Mentor and guide a team of junior and experienced underwriters, fostering their professional development.
• Monitor underwriting performance against KPIs and take corrective actions as needed.
• Collaborate with actuarial, product development, and sales teams to create and refine insurance offerings.
• Conduct portfolio reviews to assess profitability and identify areas for improvement.
• Ensure compliance with regulatory requirements and internal governance standards.
• Represent the underwriting department in cross-functional projects and senior management meetings.

Skills

Leadership

Analytical skills

Stakeholder management

Education

Bachelor's degree in Finance, Actuarial Science, Economics, or related field

Tools

Underwriting software

Job description

About the Role

Our client is seeking an accomplished Lead Underwriter specializing in Motor Insurance to join their esteemed team in Tembisa, Gauteng . This senior position requires a strategic thinker with a proven track record in risk assessment, pricing, and portfolio management. The Lead Underwriter will be instrumental in developing and implementing underwriting strategies to achieve profitability and market growth targets. This role demands a thorough understanding of the South African automotive insurance landscape and a commitment to upholding stringent underwriting standards. We are looking for a candidate who can lead by example and drive innovation within the underwriting department.

Key Responsibilities

• Develop, implement, and manage underwriting strategies and guidelines for motor insurance products.
• Analyze market trends, competitor activities, and emerging risks to inform underwriting decisions.
• Set underwriting authorities and guidelines for the underwriting team.
• Oversee the pricing of motor insurance policies to ensure competitiveness and profitability.
• Mentor and guide a team of junior and experienced underwriters, fostering their professional development.
• Monitor underwriting performance against key performance indicators and take corrective actions as needed.
• Collaborate with actuarial, product development, and sales teams to create and refine insurance offerings.
• Conduct portfolio reviews to assess profitability and identify areas for improvement.
• Ensure compliance with all regulatory requirements and internal governance standards.
• Represent the underwriting department in cross-functional projects and senior management meetings.

Requirements

• A Bachelor's degree in Finance, Actuarial Science, Economics, or a related field.
• A minimum of 7 years of progressive experience in insurance underwriting, with a strong focus on motor insurance.
• Demonstrated experience in a leadership or supervisory role within an underwriting team.
• In-depth knowledge of motor vehicle risk factors, pricing models, and market dynamics in Tembisa, Gauteng and surrounding regions.
• Strong analytical, quantitative, and decision-making skills.
• Excellent leadership, communication, and interpersonal abilities.
• Proficiency in underwriting software and data analysis tools.
• Ability to develop and maintain strong relationships with internal and external stakeholders.
• A sound understanding of financial principles and risk management.
• Commitment to ethical conduct and regulatory compliance.

Benefits

This critical role offers a highly competitive annual salary of , reflecting the seniority and expertise required. In addition to the remuneration package, our client provides a generous benefits scheme, including comprehensive medical aid, a robust retirement plan, and potential for significant annual bonuses based on performance. Opportunities for continuous learning and career advancement within the insurance sector are abundant. The position is based in our modern offices in Tembisa, Gauteng , offering a stable and professional work environment dedicated to fostering talent and achieving business excellence.