Senior Underwriter - Insurance

Placements24; Cape Town; On-site; ZAR 900,000 - 1,200,000; Full time

Benefits offered by this job

Medical and retirement benefits

Performance-based bonuses

Professional growth opportunities

Job summary

Placements24 is seeking a seasoned Senior Underwriter to join our client in Cape Town, offering an on-site role focused on assessing and pricing complex insurance risks. You will develop underwriting strategies, manage a diverse portfolio, and guide junior underwriters while aligning with profitability and policyholder needs.

The ideal candidate will have a tertiary qualification in Finance/Actuarial Science/Mathematics, 6–8 years of underwriting experience, and strong analytical and negotiation

Qualifications

• A tertiary qualification in Finance, Actuarial Science, Mathematics, or related field.
• 6–8 years progressive underwriting experience.
• Proficiency in underwriting software and MS Office.
• Professional designations (ACII/FCII/CPD) are desirable.

Responsibilities

• Analyze and evaluate complex insurance risks across lines of business.
• Determine premiums, terms and conditions for new and renewal business.
• Develop and implement underwriting guidelines to hit profitability targets.
• Review and approve/decline applications based on risk and appetite.
• Build and maintain relationships with brokers and agents.
• Monitor portfolio performance and identify trends or issues.
• Provide guidance to junior underwriters and other departments.
• Stay updated on market developments, regulatory changes, and competition.
• Collaborate with claims and actuarial teams to improve pricing accuracy.
• Contribute to product development and enhancement initiatives.

Skills

Analytical skills

Decision making

Communication

Negotiation

Interpersonal skills

Independent work

Education

Tertiary qualification in Finance/Actuarial Science/Mathematics

Tools

Underwriting software

MS Office Suite

Job description

About the Role Our client, a leading and innovative insurer, is seeking a seasoned Senior Underwriter to join their esteemed team in the vibrant city of Cape Town, Western Cape. This critical on-site role involves assessing and pricing insurance risks, developing underwriting strategies, and managing a portfolio of complex risks. You will leverage your deep understanding of actuarial principles, market trends, and risk management to make informed decisions that balance profitability and policyholder needs. The ideal candidate will possess strong analytical acumen, excellent decision-making skills, and a commitment to maintaining underwriting standards. This is an opportunity to significantly impact the company's growth and profitability within a dynamic financial services environment.

Key Responsibilities

• Analyze and evaluate complex insurance risks across various lines of business.
• Determine appropriate premium rates, terms, and conditions for new and renewal business.
• Develop and implement underwriting guidelines and strategies to achieve profitability targets.
• Review and approve or decline applications based on risk assessment and company appetite.
• Build and maintain strong relationships with brokers and agents.
• Monitor portfolio performance and identify trends or potential issues.
• Provide expert advice and guidance to junior underwriters and other departments.
• Stay abreast of market developments, regulatory changes, and competitive landscape.
• Collaborate with claims and actuarial teams to enhance risk understanding and pricing accuracy.
• Contribute to product development and enhancement initiatives.

Requirements

• A relevant tertiary qualification in Finance, Actuarial Science, Mathematics, or a related field.
• Minimum of 6-8 years of progressive experience in insurance underwriting.
• In-depth knowledge of risk assessment principles and pricing methodologies.
• Strong analytical and quantitative skills, with the ability to interpret complex data.
• Excellent decision-making capabilities and sound judgment.
• Proficiency in underwriting software and Microsoft Office Suite.
• Strong communication, negotiation, and interpersonal skills.
• Ability to work independently and manage a demanding workload.
• Must be able to work on-site in Cape Town, Western Cape.
• Relevant professional designations (e.g., ACII, FCII, CPD) are highly desirable.

Benefits

Our client offers a highly competitive salary, generous performance-based bonuses, comprehensive medical and retirement benefits, and substantial opportunities for professional growth and career advancement. You will be part of a stable and respected organization known for its commitment to employee development. Join us in shaping the future of insurance in the beautiful city of Cape Town.