Remote Underwriting Specialist - Life Insurance

Placements24; Mbombela (Nelspruit); Hybrid; ZAR 420,000 - 680,000; Full time

Benefits offered by this job

Remote work

Home office setup allowance

Competitive salary

Medical aid and retirement fund

Professional development

Job summary

Placements24 is seeking a dedicated Remote Underwriting Specialist for the life insurance sector. Join a team that evaluates risk, sets terms and premiums, and collaborates with agents and brokers from a fully remote setup in South Africa.

The role requires 4+ years of underwriting experience, strong medical knowledge, and proficiency with underwriting software. Certifications like LOMA or FALU are advantageous, and a related bachelor's degree is preferred.

Qualifications

• Minimum 4 years in life insurance underwriting.
• Strong understanding of medical terminology and risk assessment.
• In-depth knowledge of life insurance products and underwriting guidelines.
• Proficiency with underwriting software and systems.
• Certifications in underwriting (LOMA, FALU) advantageous.
• Bachelor's degree preferred.

Responsibilities

• Review and analyze life insurance applications, including medical history and financial information.
• Assess applicant risks based on established underwriting guidelines and medical knowledge.
• Determine policy terms, conditions, and premiums while ensuring profitability.
• Request and evaluate additional information such as medical reports and statements.
• Communicate underwriting decisions with agents, brokers, and clients.
• Identify and manage complex cases requiring specialized review.
• Maintain accurate case files and documentation.
• Stay updated with changes in medical advancements and regulatory requirements.
• Contribute to ongoing improvements of underwriting processes and guidelines.
• Ensure timely case processing and adherence to service standards.

Skills

Analytical skills

Decision-making

Communication skills

Interpersonal skills

Negotiation skills

Remote work capability

Education

Bachelor's degree in a related field

LOMA/FALU certification advantageous

Tools

Underwriting software

Job description

About the Role

Our client, a prominent player in the life insurance market, is looking for a dedicated and experienced Remote Underwriting Specialist to join their team. This is a fully remote position, allowing you to work from the convenience of your own home anywhere in South Africa. You will be responsible for evaluating and assessing the risk associated with life insurance applications, determining eligibility, and setting appropriate terms and premiums. This role requires a thorough understanding of medical terminology, risk factors, and life insurance underwriting principles. You will work collaboratively with agents and brokers to ensure efficient and accurate underwriting decisions, contributing to the company's growth and profitability. This is an excellent opportunity to leverage your expertise in a remote setting, making informed decisions that impact individuals' financial futures.

Key Responsibilities

• Review and analyze life insurance applications, including medical history, lifestyle factors, and financial information.
• Assess applicant risks based on established underwriting guidelines, medical knowledge, and industry best practices.
• Determine policy terms, conditions, and premiums, ensuring profitability and compliance.
• Request and evaluate additional information, such as medical reports and attending physician statements.
• Communicate effectively with agents, brokers, and clients to gather necessary information and explain underwriting decisions.
• Identify and manage complex or unusual cases requiring specialized review.
• Maintain accurate and organized case files and documentation.
• Stay current with changes in medical advancements, underwriting practices, and regulatory requirements.
• Contribute to the continuous improvement of underwriting processes and guidelines.
• Ensure adherence to service standards for timely case processing.

Requirements

• Minimum of 4 years of experience in life insurance underwriting.
• Strong understanding of medical terminology, health conditions, and risk assessment principles.
• In-depth knowledge of life insurance products and underwriting guidelines.
• Proficiency in using underwriting software and systems.
• Excellent analytical and decision-making skills.
• Strong communication, interpersonal, and negotiation skills.
• Ability to work independently and manage workload effectively in a remote environment.
• Detail-oriented with a high level of accuracy.
• Relevant certifications in underwriting (e.g., LOMA, FALU) are highly advantageous.
• A Bachelor's degree in a related field is preferred.

Benefits

• Competitive salary package for a remote role, reflecting your specialized skills.
• Potential for performance-based bonuses.
• Comprehensive medical aid and retirement fund benefits.
• Opportunities for professional development and continuous learning in the insurance field.
• The flexibility of a fully remote work arrangement.
• A supportive virtual team environment focused on collaboration.
• Contribution to a reputable life insurance provider.
• Home office setup allowance.