Senior Underwriter - Commercial Insurance

Placements24; Gauteng; Hybrid; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Hybrid work arrangement

Competitive salary and bonus

Health, dental, and vision insurance

Retirement plan

Paid time off

Job summary

Placements24 in Pretoria seeks a Senior Underwriter to lead underwriting of complex commercial risks, assess financial health, and craft tailored policy terms. You will mentor junior underwriters and collaborate with actuarial and claims teams to ensure profitability and regulatory alignment.

The role requires a strong background in commercial lines, risk analysis, and relationship building with brokers. A hybrid work setup and ongoing professional development are offered.

Qualifications

• 8+ years of progressive experience in commercial insurance underwriting.
• Bachelor's degree in Finance, Economics, Business Administration or related field.
• ACII or CPCU designations are desirable.
• Strong analytical, financial modeling, and risk assessment skills.
• Excellent negotiation, communication, and interpersonal abilities.
• Proven ability to manage complex accounts and build broker relationships.

Responsibilities

• Underwrite a portfolio of complex commercial insurance risks with pricing guidance.
• Analyze financial statements, business operations, and loss history for risk acceptability.
• Develop and maintain broker and agent relationships and provide expert guidance.
• Ensure underwriting decisions align with profitability targets and regulatory requirements.
• Collaborate with actuarial and claims teams to refine pricing models.

Skills

Risk analysis

Financial modeling

Broker relationships

Underwriting

Negotiation

Team mentorship

Education

Bachelor's in Finance/Economics/Business Admin

ACII/CPCU designation desirable

Tools

Underwriting software

Job description

About the Role

Our client, a distinguished leader in the commercial insurance market, is seeking a highly skilled and experienced Senior Underwriter to join their strategic team in Pretoria . This role is paramount in assessing and accepting commercial insurance risks, developing tailored policy solutions, and ensuring profitable growth for the company. You will leverage your deep expertise in commercial lines of business, risk analysis, and underwriting principles to make informed decisions on complex accounts. The ideal candidate possesses exceptional analytical skills, a strong understanding of financial markets and regulatory environments, and the ability to build and maintain robust broker relationships. This is a significant opportunity to shape underwriting strategy and contribute to the sustained success of a top-tier insurance organization. Your role will involve detailed evaluation of business operations, financial health, and potential exposures to develop appropriate coverage terms and pricing. You will be instrumental in guiding the underwriting process for challenging risks, balancing profitability with market competitiveness. The position requires a forward-thinking approach to risk management and a commitment to upholding the highest standards of professional conduct. Collaboration with claims, actuarial, and sales teams will be essential for comprehensive risk assessment and product development.

Key Responsibilities

• Underwrite a portfolio of complex commercial insurance risks, evaluating exposures and determining appropriate coverage terms, conditions, and pricing.
• Analyze financial statements, business operations, and loss history to assess risk acceptability.
• Develop and maintain strong relationships with brokers and agents, providing expert guidance and service.
• Ensure underwriting decisions align with company guidelines, profitability targets, and regulatory requirements.
• Collaborate with the actuarial and claims departments to refine pricing models and risk assessments.
• Contribute to the development and implementation of new insurance products and underwriting strategies.
• Mentor and guide junior underwriters, sharing expertise and fostering professional development.
• Monitor market trends, competitive activities, and regulatory changes impacting commercial insurance.
• Attend industry events and build a strong professional network.
• Review and approve renewal business, ensuring retention and profitable growth.

Requirements

• Bachelor's degree in Finance, Economics, Business Administration, or a related field.
• Advanced degrees or professional designations (e.g., ACII, CPCU) are highly desirable.
• Minimum of 8 years of progressive experience in commercial insurance underwriting.
• In-depth knowledge of various commercial lines of insurance (e.g., Property, Liability, Workers' Compensation, Marine).
• Strong analytical, financial modeling, and risk assessment skills.
• Excellent negotiation, communication, and interpersonal abilities.
• Proven ability to manage complex accounts and build strong broker relationships.
• Proficiency in underwriting systems and relevant software applications.
• Understanding of legal and regulatory frameworks governing the insurance industry.
• Strategic thinker with a proven track record of achieving profitable growth.
• Ability to work effectively in a hybrid work model.

Benefits

• Highly competitive salary and bonus structure.
• Comprehensive health, dental, and vision insurance.
• Generous retirement savings plan with employer contribution.
• Significant paid time off and holiday allowances.
• Hybrid work arrangement offering flexibility.
• Opportunities for continuous professional development and leadership training.
• Access to industry-leading underwriting tools and resources.