Senior Life Insurance Underwriter - High Net Worth

Placements24; Durban; Hybrid; ZAR 900,000 - 1,200,000; Full time

Benefits offered by this job

Hybrid work model

Medical coverage

Life insurance

Retirement savings plan

Job summary

Placements24 in Durban seeks a Senior Life Insurance Underwriter specialized in high net worth clients. You will assess medical and financial risks, set premiums, and issue policies with precision.

Collaboration with financial advisors and internal teams is essential to deliver tailored solutions for affluent clients. The role requires deep knowledge of medical impairments, financial risk assessment, and strong decision-making abilities in a complex underwriting environment.

Qualifications

• 7+ years of life insurance underwriting experience, with significant exposure to high net worth clients.
• In-depth knowledge of medical impairments, financial underwriting principles, and risk assessment for affluent individuals.
• Proven ability to analyze complex medical histories and financial documentation.

Responsibilities

• Underwrite complex life insurance applications for high net worth individuals, assessing medical, financial, and lifestyle risks.
• Evaluate detailed medical reports, financial statements, and other documentation to determine risk acceptability.
• Apply underwriting guidelines and company policies with sound judgment.
• Collaborate with sales teams, financial advisors, and medical professionals to gather risk details.
• Determine premiums, sum assured, and policy terms for high-risk cases.
• Maintain accurate underwriting files and ensure regulatory compliance.
• Identify and manage emerging risks within the high net worth market.
• Provide expert underwriting support to internal stakeholders.
• Contribute to continuous improvement of underwriting processes and tools.

Skills

Communication skills

Negotiation

Decision-making

Analytical skills

Underwriting software

Microsoft Office

Education

FLMI

CIP

Tools

Underwriting software

Microsoft Office

Job description

About the Role

Our client, a distinguished leader in the life insurance sector, is seeking a seasoned Senior Life Insurance Underwriter with expertise in handling high net worth (HNW) clients. Based in the bustling city of Durban , this role is crucial for evaluating complex life insurance applications, assessing risks associated with affluent individuals, and ensuring accurate pricing and policy issuance. The successful candidate will possess exceptional analytical skills, a deep understanding of medical and financial risk factors pertinent to HNW individuals, and a commitment to providing a seamless underwriting experience. You will collaborate closely with financial advisors and internal teams to deliver bespoke solutions that meet the sophisticated needs of this client segment. This is a prime opportunity to leverage your underwriting acumen within a respected financial institution in Durban .

Key Responsibilities

• Underwrite complex life insurance applications for high net worth individuals, assessing medical, financial, and lifestyle risks.
• Evaluate detailed medical reports, financial statements, and other pertinent documentation to determine risk acceptability.
• Apply sound underwriting judgment and adhere to established underwriting guidelines and company policies.
• Collaborate with sales teams, financial advisors, and medical professionals to gather necessary information and clarify risk details.
• Determine appropriate premiums, sum assured, and policy terms and conditions for high-risk cases.
• Ensure compliance with all relevant regulations and industry standards.
• Maintain accurate and comprehensive underwriting files and documentation.
• Identify and manage emerging risks and trends within the high net worth market segment.
• Provide expert advice and support on underwriting matters to internal stakeholders.
• Contribute to the continuous improvement of underwriting processes and tools.

Requirements

• Minimum of 7 years of experience in life insurance underwriting, with significant exposure to high net worth clients.
• In-depth knowledge of medical impairments, financial underwriting principles, and risk assessment methodologies for affluent individuals.
• Proven ability to analyze complex medical histories and financial documentation.
• Strong decision-making capabilities and sound underwriting judgment.
• Excellent communication, interpersonal, and negotiation skills.
• Proficiency in underwriting software and Microsoft Office Suite.
• Relevant professional underwriting qualifications (e.g., FLMI, CIP) are essential.
• High level of integrity, discretion, and professionalism.
• Ability to work effectively both independently and as part of a collaborative team in Durban .
• Experience with international clients or offshore policies is a plus.

Benefits

• This role comes with a highly competitive salary package, enhanced by a performance-driven bonus scheme.
• Our client provides comprehensive medical coverage, life assurance, and a robust retirement savings plan.
• Significant opportunities for continuous professional development, including access to advanced training programs and international conferences, are available.
• The position embraces a hybrid work model, offering a blend of in-office collaboration and remote flexibility in Durban .
• Join a leading organization known for its commitment to employee growth and excellence within the KwaZulu-Natal insurance landscape.