Underwriting Manager - Insurance

Placements24; Cape Town; Hybrid; ZAR 900,000 - 1,500,000; Full time

Benefits offered by this job

Medical aid

Life insurance

Retirement fund

Professional development

Hybrid work model

Bonuses

Relocation assistance

Team-building activities

Job summary

Placements24 in Cape Town seeks an experienced Underwriting Manager to lead and develop a team of underwriters, shaping underwriting strategies and ensuring profitable growth. This hybrid role balances in-office collaboration with remote flexibility, critical for risk assessment and policy optimization.

The ideal candidate brings 7+ years in underwriting with leadership experience, strong analytics, and a track record in pricing and policy wording.

Qualifications

• 7+ years of progressive experience in insurance underwriting, with at least 3 years in a supervisory or management role.
• Experience developing and executing underwriting strategies for multiple lines (Commercial, Personal Lines).
• Strong understanding of risk assessment, pricing, and policy wording.
• Excellent leadership, team management, and interpersonal skills.
• Proficiency in underwriting software and data analysis tools.
• Bachelor’s degree in Finance, Business Admin, Risk Management, or related field.
• ACII or equivalent designation desirable.

Responsibilities

• Lead, mentor, and develop a team of underwriters.
• Develop, implement, and monitor underwriting guidelines and strategies for profitability and risk mitigation.
• Analyze market trends, competitor activities, and economic conditions to inform decisions.
• Review and approve complex/high-value risks outside standard authority.
• Collaborate with sales/marketing to align underwriting with growth plans.
• Manage the underwriting department’s budget and resources.
• Ensure compliance with regulatory requirements and internal policies.
• Build relationships with brokers and agents to ensure service excellence.
• Oversee underwriting portfolio performance and drive improvements.
• Contribute to development of new insurance products and services.

Skills

Leadership

Underwriting

Risk assessment

Data analysis

Stakeholder management

Communication

Education

Bachelor’s degree in Finance or related field

Tools

Underwriting software

Data analysis tools

Job description

About the Role

Our client, a prominent player in the South African insurance market, is seeking an experienced and strategic Underwriting Manager to lead their operations in Cape Town . This is a critical leadership role responsible for overseeing the underwriting function, ensuring profitable growth, and managing a team of skilled underwriters. The successful candidate will be instrumental in developing and implementing underwriting strategies, policies, and procedures that align with the company's business objectives and risk appetite. This hybrid role offers a blend of in-office collaboration and remote flexibility, providing a dynamic work environment. You will play a key part in shaping the future of our client's underwriting department, driving performance, and maintaining a strong focus on risk assessment and management. The ideal candidate will possess a strong analytical mindset, exceptional leadership qualities, and a comprehensive understanding of the insurance industry. We are looking for an individual who can inspire a team, make informed decisions, and contribute to the overall success of the organization. This position represents a significant career advancement opportunity within a well-respected financial institution.

Key Responsibilities

• Lead, mentor, and develop a team of insurance underwriters, fostering a culture of high performance and continuous learning.
• Develop, implement, and monitor underwriting guidelines and strategies to ensure profitable growth and risk mitigation.
• Analyze market trends, competitor activities, and economic conditions to inform underwriting decisions and strategies.
• Review and approve complex or high-value insurance risks that fall outside the standard underwriting authority.
• Collaborate with the sales and marketing teams to support business development initiatives and ensure alignment with underwriting philosophy.
• Manage the underwriting department's budget and resources effectively.
• Ensure compliance with all relevant regulatory requirements and internal policies.
• Develop and maintain strong relationships with brokers and agents, understanding their needs and providing exceptional service.
• Oversee the performance of the underwriting portfolio, identifying areas for improvement and implementing corrective actions.
• Contribute to the development of new insurance products and services.

Requirements

• A minimum of 7 years of progressive experience in insurance underwriting, with at least 3 years in a supervisory or management role.
• Demonstrated success in developing and executing underwriting strategies for various insurance lines (e.g., Commercial, Personal Lines).
• Strong understanding of risk assessment, pricing, and policy wording.
• Excellent leadership, team management, and interpersonal skills.
• Proficiency in underwriting software and data analysis tools.
• A bachelor's degree in Finance, Business Administration, Risk Management, or a related field.
• Professional designations such as ACII or equivalent are highly desirable.
• Exceptional analytical and decision-making capabilities.
• Ability to communicate complex underwriting concepts clearly to both technical and non-technical audiences.
• Experience working in a hybrid work environment, demonstrating effective time management and collaboration skills.
• Strong understanding of the South African insurance landscape.

Benefits

• Our client provides a competitive salary package commensurate with experience.
• A comprehensive benefits program includes medical aid, life insurance, and a retirement fund.
• Opportunities for professional development and continuous learning are actively supported through workshops, conferences, and certifications.
• The hybrid work model offers flexibility, allowing for a better work-life balance.
• Performance-based bonuses are awarded.
• A dynamic and supportive work environment within a reputable organization.
• Opportunities for career growth and advancement.
• Regular team-building activities and social events.
• Access to cutting-edge technology and resources.
• Relocation assistance may be considered for exceptional candidates.

We are committed to fostering an inclusive workplace where diversity is celebrated.