Mid Corporate Property - Underwriter

Santam; Gauteng; On-site; ZAR 50 000 - 80 000; Full time

Job summary

A leading insurance company in South Africa seeks an Underwriter for corporate property. Responsibilities include underwriting new and renewal business, preparing business proposals, and ensuring compliance with underwriting guidelines. Applicants should have 5-7 years of experience in mid corporate insurance, strong analytical skills, and a comprehensive understanding of insurance legislation. Preferable qualifications include a business degree and IISA certification. This role offers an opportunity to contribute to the company's growth and profitability.

Qualifications

• 5-7 years of experience in underwriting mid corporate industrial property accounts.
• Strong negotiation skills for facultative reinsurance placements.
• Comprehensive understanding of insurance legislation.

Responsibilities

• Underwrite new and renewal business in corporate property.
• Compile and present business proposals to stakeholders.
• Monitor and maintain compliance with underwriting guidelines.

Skills

Underwriting experience

Analytical skills

Negotiation skills

Risk assessment

Knowledge of insurance legislation

Education

Matric

Business degree

IISA Qualification

Tools

Insurance operating systems

Job description

What will you do?

The primary purpose of this position is to underwrite new and renewal of mid corporate Business in Santam Corporate Property and place the necessary facultative reinsurance where required

What will make you successful in this role?

Key Functions

Underwriting

Compiling and presenting written and verbal business presentations, including material directed at Business Partners and internally to management.

Analysis of broker / RI broker submissions on new business and renewals, and the underwriting of business to ensure profitability for the department.

Compilation and submission of new business and renewal business to reinsurers and reinsurance brokers to ensure cost-effective facultative support if required.

Provide input on technical discussions and negotiations of policy wordings.

Provide technical underwriting input in respect of claims-related matters.

Assume responsibility for documentation issued on new business and renewal of existing business within the mandated authority.

Monitoring and Control of Documentation to internal departments, including but not limited to Risk Administration.

Ensure effectiveness in workflow in dealing with the underwriting process from quotations to processing stages.

Compliance with regulations and delegated authority levels and execution of business within mandates.

Compilation and production of data and reports as required by line managers / executive managers of the Company.

Effective interaction with internal and external Risk Engineering departments, including, but not limited to, the scheduling of site visits and accompaniment during site visits with the internal and external Risk Engineers.

Ensure adherence to Santam Corporate Property 's underwriting guidelines and peer review.

Ad Hoc Functions

Support Head :

Other ad hoc functions in assisting the department

Other

Enhance the SCP brand and foster a corporate culture that promotes sustainable, ethical practices.

Support of all SCP financial and growth objectives.

Support the marketing endeavours to achieve growth and profitability in line with the Company's objectives and business plan.

Underwriting File Management to support the efficient operation of Risk Administration.

Maintain Company underwriting standards / disciplines based on required information, including Insured's Loss Ratio, Risk Concerns, Policy Loss Limits, Deductibles, proposed Wordings, and any other relevant information that may affect renewal terms.

Risk assessment by analysis of risk management reports, discussion with internal and external risk managers and engineers, and subsequent motivation and implementation of risk improvement recommendations.

Technical Analysis of and technical discussions and negotiations on policy wordings.

Implement and negotiate facultative reinsurance within the company's appetite and monitor reinsurance placements / Slips – checking pertinent information.

Qualifications & Experience

Non-negotiable minimum 5-7 years' experience in leading and underwriting mid corporate industrial property accounts, 5 years' experience working directly on Mid Corporate Property Insurance Policies, and 5 years' experience negotiating facultative reinsurance placements.

Matric

A business degree will be beneficial

5 – 7 years' mid corporate property experience

IISA Qualification and / or equivalent professional qualification

Successful completion of RE Examination

Comprehensive understanding of insurance legislation

Must have experience with insurance operating systems

Turnaround time

The shortlisting process will only start once the application due date has been reached.

The time taken to complete this process will depend on how far you progress and the availability of managers.

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