Senior Underwriter

Santam Insurance; Gauteng; On-site; ZAR 800 000 - 1 200 000; Full time

Job summary

A leading insurance provider in South Africa is looking for a Senior Underwriter to manage corporate property insurance underwriting. Responsibilities include risk assessment, interaction with brokers, and ensuring compliance with underwriting guidelines. Candidates should have 5-7 years of experience and strong negotiation skills. This position offers opportunities for local and international travel.

Qualifications

• 5 – 7 years' experience in underwriting corporate property insurance.
• Experience with African and South African retail and reinsurance brokers.
• Ability to compile and present business materials effectively.

Responsibilities

• Manage underwriting of new and renewal corporate property insurance business.
• Interact effectively with management and business partners.
• Contribute to sustaining a profitable book of business.

Skills

Underwriting and negotiation skills

Analytical skills

Communication skills

Networking skills

Education

IISA qualification and/or equivalent professional qualification

Successful completion of RE Examination

Tools

Microsoft Office

Job description

Senior Underwriter – Risk Acceptance Department

We have an exciting opportunity available for a Senior Underwriter in our Risk Acceptance Department at Emerald.

What will make you successful in this role?

The individual will be responsible for managing the underwriting of new and renewal corporate property insurance business and placing the necessary facultative reinsurance.

The suitable candidate will be expected to interact and work effectively with members of the management team, play an effective role in the improvement of the company’s product and department documentation, assuming marketing and business growth targets and interaction with business partners / brokers and potential new clients.

The candidate must have strong underwriting and negotiation skills, as well as the ability to operate under demanding deadlines and be able to prioritise and organise tasks and follow up efficiently and effectively with brokers / reinsurance brokers, as well as the underwriters and managers within the company, and members of other departments within the company.

The candidate will be expected to contribute towards sustaining and growing a profitable book of business whilst enhancing the brand and reputation of Emerald on a day-to-day basis.

The individual applying for this position needs to be self‑disciplined, conduct themselves in a professional manner, and must also be well presented, self‑motivated and possess excellent written and verbal communication skills.

Key Performance Areas

• Enhance the Emerald brand and foster a corporate culture that promotes sustainable ethical practices.
• Support all Emerald financial and growth objectives.
• Support the marketing endeavors to achieve growth and profitability in line with the Company objectives and business plan.
• Support the Emerald / Santam Specialist office in London.
• 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 company appetite and monitor reinsurance placements / Slips – checking pertinent information.
• Prepare Technical Rating Reviews / Client Risk Profiles / Claims history reviews / Final Checklist for completion of renewals.
• Participate in broker visits, insurance industry functions and marketing events in support of broker relationship development.
• Consult with management regarding unique or unusual risks to minimize adverse risk selection and to maintain the quality and profitability of the portfolio and refer risks outside the established authority levels.
• Maintain knowledge of industry trends, developments, and regulatory changes, including competitive analysis and information.
• Ensure the team complies with all relevant terms and conditions of binder and mandate.
• Local and international travel where and when required by management.

Qualifications & Experience

5 – 7 years' experience, IISA qualification and / or equivalent professional qualification, successful completion of RE Examination, working knowledge of and previous interaction with African and South African retail and reinsurance brokers, reinsurers and clients, strong networking skills with national and international brokers / reinsurance brokers, experience and knowledge of Microsoft Office system.

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.

Lead technical discussions and negotiations of policy wordings.

Provide technical underwriting input in respect of claims related matters.

Assume responsibility for documentation issued by the candidate with regards to new business and renewal of existing business within mandated authority.

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

Ensure effectiveness in workflow in dealing with 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 Emerald underwriting guidelines and peer review.