Senior Underwriter

Old Mutual Limited; South Africa; On-site; ZAR 480,000 - 720,000; Full time

Job summary

Old Mutual Limited in South Africa seeks an experienced Underwriter at Mark 4 level to assess renewal and new business, price risk, and decide on acceptance.

You will analyze financial statements, apply guidelines, determine premiums, and prepare renewal packages for Sales while monitoring profitability.

The role requires Grade 12 and Commerce studies, a Mark 4 Underwriting Test, and proven communication and negotiation skills; Code 8 license is expected.

Qualifications

• Grade 12 and a tertiary commerce qualification or studying towards a commerce degree.
• Pass Mark 4 Underwriting Technical Test.
• Experience as an Underwriter at Mark 4 level.
• Code 8 Driver's License.
• Excellent communication and negotiation skills.
• Knowledge of underwriting tools and policy terms.

Responsibilities

• Evaluate risk, price, and select/reject renewal and new business for accounts.
• Perform risk and contract evaluation using guidelines and financial data.
• Determine required premium level and plan changes.
• Monitor profitability and analyze loss trends.
• Prepare renewal packages and negotiate terms with Sales.

Skills

Underwriting experience

Communication skills

Decision quality

Financial acumen

Negotiation

Education

Grade 12

Commerce degree or studying towards

Mark 4 Underwriting Technical Test

Underwriter experience at Mark 4 level

Job description

Let’s Write Africa’s Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

Responsible for risk evaluation, pricing and selection / rejection of renewal business for all assigned accounts within the portfolio. Research problems and take initiative in recommending solutions for customer and financial issues that will enable the organisation to profitably accept the risk that our policies cover.

• Responsible for risk evaluation, pricing and selection / rejection of new and renewal business for all assigned accounts within the portfolio.
• Perform risk and contract evaluation on renewal business using rating guidelines, industry and occupational classifications, financial statements, manual rating, experience information (e.g. premium, claims, reserves, rate history and average exposure) for all assigned accounts.
• Determine required premium level based on experience and manual rates, plan design, services, and competitive information in accordance with organisational guidelines.
• Demonstrate a high degree of knowledge regarding underwriting quantitative and qualitative tools and communicate the outcomes clearly to Sales and Claims functions.
• Research all problems and risk related issues by using initiative in problem solving that involves management in decision making as necessary.
• Responsible for monitoring profitability as measured by loss ratio improvement.
• Complete semi-annual and ad hoc profitability analysis for all assigned cases and provide summary of analysis to management and Sales.
• Analysis to include but not limited to action plans for moving accounts to profitability and complete assessment of claim trends and services. Analyse all necessary historical account information.
• Determine renewal terms including required premium level and policy plan change recommendations and deliver complete renewal package to Sales according to organisational department guidelines.
• Accountable for the accuracy and completeness of all renewal data.
• Negotiate all subsequent appeals with Sales regarding premium levels and policy plan provisions and involve appropriate people in decision making and negotiating as necessary.
• Participate in interdepartmental discussions between Sales, Claims and Underwriting on renewal business issues and make recommendations regarding policy plan provisions and claims and administrative procedures.
• Communicate recommendations to Sales for delivery to customer.
• Review all customer and Sales requests for policy and plan changes.
• Determine contract and pricing changes necessary according to underwriting guidelines and use independent judgment.
• Negotiate with Sales subsequent appeals and manage changes according to organisational procedures.
• Qualification
• Grade 12
• Tertiary qualification in Commerce (NQF Level 6-7 or
• equivalent) or studying towards a Commercial degree
• Must have passed the Mark 4 Underwriting Technical Test
• Must have experience as an Underwriter at Mark 4 level
• Must have a mandate and prior experience will be required
• Have in depth knowledge of the commodities in the industry and must have worked with policy holders
• Underwriting skills at policy holder level
• Must have excellent communication skills
• Must have a Code 8 Drivers License

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Skills

Competencies

Action Oriented

Business Insight

Communicates Effectively

Decision Quality

Financial Acumen

Instills Trust

Manages Complexity

Optimizes Work Processes

Education

Closing Date

19 October 2026 , 23:59

_ The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question. _

_ The Old Mutual Story! _