Senior Property Underwriter

1 month ago

Durban, South Africa Tower Group Full time

PURPOSE OF JOB: Responsible for all aspects of the Underwriting and Insurance Administration activities ensuring the service delivery to Brokers

 

KEY AREAS OF THE JOB:

  • Responsible for All Insurance underwriting.
  • Maintain, and revise service level agreements with brokers for the company.
  • Identify potential areas of underwriting exposure and risk and implement corrective measures.
  • Provide reports on a regular basis to the Director and keep them informed of any changes, risks etc.

MAJOR TASK HEADINGS OR KEY PERFORMANCE AREAS:

  • Ensure that terms provided to brokers/reinsurers are in line with facility authority.
  • Where this is not possible, to advise Insurers and obtain their agreement.
  • Manage the expectations of the brokers/reinsurers.
  • Handling of general broker queries in line with the products being sold.
  • Receive, refer and present terms for new business, renewals and endorsements in line with pre-agreed mandates as detailed in the various binders
  • Prepare and load business onto insurance system and ensure that all debits are raised.
  • Follow-up of renewal terms with brokers; obtain the necessary proposals well in advance.
  • Manage the relationship with the insurance IT system providers. Investigate more efficient processes and implement changes that will enhance efficiencies.
  • Process all cancellations on the insurance system.
  • Credit control
  • Ensure premiums are paid across to Underwriters in line with the premium payment warranties as detailed in the binders; by the finance department.
  • Advise brokers regarding unpaid premium.
  • Request refunds from accounts department.
  • Ensure that risks are underwritten and that binder profitably is maintained and profit commissions monitored regularly.
  • Should profitability deteriorate, problem areas to be identified and corrective underwriting action taken.
  • Prepare annual binder submission packs.
  • Maintain binder triangulations monthly implement standardized reporting to this effect.
  • Ensure that claims are handled timeously and that estimates are updates quarterly, by the claims department.

 

COMPETENCIES AND PERSONAL SKILLS:

  • Strong understanding and knowledge of:
  • Lloyds
  • Binders
  • Underwriting
  • Profit Commissions
  • Management reporting
  • Superior written and verbal communications skills.
  • Strong project management skills with demonstrated ability to multi-task and set priorities within tight timelines.
  • Flexible and open to changing priorities and managing multiple tasks simultaneously within timeframes.
  • Ability to perform a host of administrative functions.
  • Ability to manage the expectations of internal clients.
  • Excellent interpersonal skills
  • Knowledge of various insurance products.

 

EDUCATION AND EXPERIENCE:

  • Relevant FSB qualification.
  • A minimum of ten years relevant experience in the short-term insurance industry.
  • Computer Literate.
  • Relevant insurance qualification.

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