Senior Insurance Underwriter - Auto Division

Placements24; Midrand; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Medical aid

Provident fund

Actuarial study assistance

Hybrid work arrangement

Job summary

Placements24 in South Africa seeks a Senior Insurance Underwriter in Midrand, Gauteng. The role centers on risk assessment, premium setting, and developing underwriting guidelines to strengthen portfolio profitability.

You will analyze complex data, monitor trends, and collaborate with agents to optimize policy options. In addition to mentoring junior underwriters, you will ensure regulatory compliance and stay abreast of market changes, contributing to a dynamic and professional team

Qualifications

• Minimum 5–7 years in insurance underwriting with a focus on automobiles.
• Tertiary qualification in Finance, Actuarial Science, Risk Management, or related field.
• Strong data analysis and risk pattern recognition.
• Knowledge of South Africa insurance principles and regulatory requirements.
• Excellent communication and negotiation skills.

Responsibilities

• Analyze applications, assess risk factors for auto policies.
• Determine premiums and policy terms based on risk and market data.
• Develop and implement auto underwriting policies and procedures.
• Collaborate with agents and brokers on underwriting requirements.
• Monitor portfolio performance and adjust strategies as needed.
• Review complex claims for underwriting issues or fraud indicators.
• Mentor junior underwriters and promote learning.
• Stay updated on regulations, market trends, and competitors.

Skills

Analytical thinking

Risk assessment

Communication skills

Discretion with data

Education

Finance / Actuarial Science / Risk Management degree

Tools

Underwriting software

MS Office Suite

Job description

About the Role

Our client, a leading insurance provider, is seeking an experienced and analytical Senior Insurance Underwriter to join their dynamic team in Midrand, Gauteng. This pivotal role focuses on assessing and managing the risks associated with automobile insurance policies. The successful candidate will play a crucial part in ensuring the profitability and stability of the auto insurance portfolio by making informed underwriting decisions. You will be responsible for evaluating complex risks, setting appropriate premiums, and developing underwriting guidelines. This is an excellent opportunity for a seasoned professional to make a significant impact within a reputable organization and contribute to its continued success in the competitive South African insurance market. We are looking for a meticulous individual with a strong understanding of actuarial principles and market trends.

Key Responsibilities

• Analyze insurance applications, evaluating risk factors related to vehicles, drivers, and driving history for automobile policies.
• Determine appropriate premium rates and policy terms based on risk assessment, company guidelines, and market analysis.
• Develop and implement underwriting policies and procedures for the auto insurance division.
• Collaborate with agents and brokers to provide guidance on underwriting requirements and policy options.
• Monitor the performance of the auto insurance portfolio, identifying trends and recommending adjustments to underwriting strategies.
• Review and assess complex claims to identify potential underwriting issues or fraudulent activities.
• Train and mentor junior underwriters, fostering a culture of continuous learning and development within the team.
• Maintain up-to-date knowledge of industry regulations, market changes, and competitor activities.

Requirements

• A relevant tertiary qualification in Finance, Actuarial Science, Risk Management, or a related field.
• Minimum of 5-7 years of experience in insurance underwriting, with a strong focus on automobile insurance.
• Proven ability to analyze complex data, identify risk patterns, and make sound underwriting judgments.
• In-depth understanding of insurance principles, policy structures, and regulatory requirements in South Africa.
• Excellent communication, negotiation, and interpersonal skills.
• Strong analytical and problem-solving capabilities.
• Proficiency in relevant underwriting software and MS Office Suite.
• Ability to work effectively both independently and as part of a hybrid team.

Benefits

• Competitive annual salary
• Performance-based bonuses
• Medical aid contribution
• Generous provident fund
• Opportunities for professional development, including actuarial study assistance and advanced underwriting certifications
• Employees also benefit from access to modern office facilities in Midrand, Gauteng, with opportunities for hybrid work arrangements
• Dynamic and collaborative work environment awaits you, along with ample room for career advancement within the organization