Remote Underwriting Specialist - Special Risks

Placements24; Paarl; Hybrid; ZAR 700,000 - 1,000,000; Full time

Benefits offered by this job

Competitive salary

Bonuses based on performance

Health insurance

Retirement plan with employer matching

Home office allowance

Flexible remote hours

Paid holidays

Professional development support

Job summary

Placements24 in South Africa is seeking an experienced Remote Underwriting Specialist focused on Special Risks. The role involves evaluating, pricing, and authorizing coverage for non-standard risks from a home office, collaborating with brokers and internal teams.

Ideal candidates have deep risk assessment expertise, knowledge of niche products, and ability to work independently in a virtual team, with remote-first flexibility and strong communication to maintain profitability and client

Qualifications

• Bachelor's degree in Insurance, Finance, Business Administration, or a related field.
• Minimum of 5 years of progressive underwriting experience, with focus on special risks or complex commercial lines.
• Strong ability to identify and analyze unique or unusual risks.
• In-depth knowledge of specialized insurance products (e.g., contingent business interruption, event cancellation, kidnap & ransom, professional indemnity for niche professions).
• Excellent analytical, critical thinking, and problem-solving skills.
• Strong negotiation and communication abilities to articulate complex underwriting decisions.
• Proficiency in underwriting software and Excel; ability to work independently and remotely.
• Familiarity with international insurance markets and regulations is a plus.
• Relevant professional designations (e.g., CPCU, ACII) are desirable.

Responsibilities

• Underwrite and assess complex special risks applications per guidelines.
• Analyze financial statements, operations, and loss histories.
• Set policy terms, conditions, exclusions, and pricing for special risks.
• Build relations with brokers and agents in niche markets.
• Collaborate with claims and legal teams on exposures.
• Monitor evolving market trends and new developments in special risks.
• Provide expert underwriting advice to brokers and clients.
• Document underwriting decisions and rationale in the system.
• Contribute to refining underwriting guidelines and tools.
• Manage a portfolio of special risk accounts for profitability.

Skills

Analytical thinking

Problem solving

Negotiation

Communication

Excel

Education

Bachelor's degree

Tools

Underwriting software

Job description

About the Role

Our client, a leader in specialized insurance solutions, is seeking an experienced Remote Underwriting Specialist to focus on Special Risks. This fully remote position is perfect for a seasoned underwriter who thrives on analyzing unique and complex risks from the comfort of their home office. You will be responsible for evaluating, pricing, and authorizing insurance coverage for non-standard risks across various industries, requiring a high degree of technical expertise and independent judgment. The ideal candidate possesses a profound understanding of risk assessment, policy wording, and market dynamics for specialized insurance products. This role demands exceptional analytical abilities, strong decision-making skills, and the capacity to work autonomously within a virtual team structure. You will play a crucial role in expanding the company's capabilities in niche insurance markets. We are looking for individuals who are proactive, detail-oriented, and adept at managing a challenging caseload remotely. The successful candidate will collaborate with brokers and internal teams to provide innovative and competitive underwriting solutions, ensuring profitability and client satisfaction. This is a remote-first opportunity, offering the flexibility to work from anywhere in South Africa , with the expectation of maintaining high productivity and communication standards.

Key Responsibilities

• Underwrite and assess complex special risks insurance applications, ensuring adherence to company guidelines and risk appetite.
• Analyze intricate details of potential risks, including financial statements, operational procedures, and loss histories.
• Determine appropriate policy terms, conditions, exclusions, and pricing for special risk policies.
• Develop and maintain strong working relationships with brokers and agents specializing in niche markets.
• Collaborate with internal teams, including claims and legal, to manage unique policy exposures and potential claims.
• Stay informed about evolving market trends, emerging risks, and new developments within special risks insurance.
• Provide expert underwriting advice and support to brokers and clients.
• Accurately document underwriting decisions, rationale, and policy details in the underwriting system.
• Contribute to the development and refinement of underwriting guidelines and tools for special risks.
• Manage a portfolio of special risk accounts, ensuring timely processing and profitable results.

Requirements

• A Bachelor's degree in Insurance, Finance, Business Administration, or a related field.
• A minimum of 5 years of progressive experience in underwriting, with a significant focus on special risks or complex commercial lines.
• Demonstrated expertise in identifying and analyzing unique or unusual risks.
• In-depth knowledge of specialized insurance products (e.g., contingent business interruption, event cancellation, kidnap & ransom, professional indemnity for unique professions).
• Excellent analytical, critical thinking, and problem-solving skills.
• Strong negotiation and communication abilities, with the capacity to articulate complex underwriting decisions.
• Proficiency in underwriting software and standard office applications, including Excel.
• Proven ability to work independently and manage a remote workload effectively.
• Familiarity with international insurance markets and regulations is an advantage.
• Relevant professional designations (e.g., CPCU, ACII) are highly desirable.

Benefits

• Highly competitive salary and performance-based bonuses.
• Comprehensive health insurance coverage.
• Generous retirement savings plan with employer matching.
• Significant home office allowance and technology support.
• Flexible remote working hours.
• Generous annual leave and paid holidays.
• Opportunities for continuous professional development and specialized training.
• Access to industry-leading underwriting tools and resources.
• Work from anywhere within South Africa .
• Collaborative and supportive virtual team environment.