Trainee Underwriter: Accident

2 months ago

Johannesburg, South Africa Santam Full time

What will you do?

This career opportunity is available at SHA Risk Specialists a division of Santam for a Trainee Underwriter: Accident & Health, who will be based in Johannesburg: Illovo.

A Trainee Underwriter will be able to carefully select, analyse and underwrite risks, in a cost-effective manner and in accordance with company requirements under supervision and guidance. Gaining understanding of guidelines and governance and how to ensure good risk selection and profitability to ensure business targets are met. They will be proactive in developing skills to underwrite unsupervised, learning and absorbing expertise from more Senior colleagues.

They will maintain professional conduct (dress code, communication (written and verbal) with internal and external stakeholders and begin to develop understanding of industry changes and trends, general market intelligence, technology and other relevant developments. What will make you successful in this role?

Technical
Examine insurance proposal for simple new and renewal business, gathering and assessing background information, conducting necessary research, evaluating and assessing the risk (including but not limited to coverage analysis, pricing and structure) and discussing/negotiating risks with the broker in order to effectively win or renew the risk.
Calculate possible risk and determine appropriate insurance premiums using underwriting tools/rating guidelines and practices, underwriting information and own judgement and experience.
Prepare rationale / referral documentation for sign off in accordance with company policy and technical guidelines.
Assist with monitoring portfolio performance (of own renewal portfolio). In order to progress they need to learn to track renewals, new business and lost business and that the cancellation reserve does not exceed 2.5%.
Be able to articulate basic technical messaging, internally (for referrals) as well as to brokers and clients and to work with colleagues to expand this knowledge and the means to communicate it.
Accurately enter data into company systems and produce management reports that ensure that the company remains aware of the nature and financial impact of all risks written for your own portfolio.
Maintain accurate electronic records for auditing and regulatory purposes.
Undertake any other reasonable tasks as requested by the U/W Head or Manager in order that the team achieve its objectives.
Adhere to all operational and procedural standards.
Handle accounts queries and credit control queries to the satisfaction of all parties.

Professional conduct and soft skills
Seek out and leverage diversity (in all its forms) to create an inclusive work environment.
Collaborate on innovation and fresh perspectives and support initiatives into the team, the business and with our brokers and customers.
Behave in a professional manner at all times demonstrating relationship management and development (internally and externally).
Demonstrate the SHA brand values in all activities.

Client and marketing responsibilities
Develop and maintain relationships with brokers and clients at all relevant levels of their businesses.
Respond to queries and resolve to the satisfaction of the affected parties within the scope of authority and / or responsibility.

Governance
Fulfil individual risk and compliance related obligations in adherence to Group and Regulatory guidelines.
Provide proactive risk and compliance awareness by reporting any incidents or breaches identified within our compliance requirements. Qualification, Skills and Experience

Working towards NQF 7 insurance or risk management qualification, if not already attained
FAIS Compliance and RE5
Basic understanding of insurance industry including the reinsurance market and the terminologies used.
Basic understanding of policy wordings, specifically related to A&H.
Curiosity and proactive questioning of Senior colleagues (respecting their time and resources) to gain knowledge and understanding of all aspects of underwriting.
Developing decision-making skills; able to consider the costs and benefits of various options and recommend the appropriate one as part of the referral process (to management or the technical team).
Good communication and interpersonal skills; comfortable with phone and face to face discussions with underwriters, brokers and any other relevant stakeholders.
Deadline focused; able to work under pressure to meet tight deadlines and able to organise own workload effectively to prioritise and delegate to meet service standards.
Competent user of Excel, Word, Outlook and other Microsoft platforms.
Operationally efficient; able to follow all process requirements.
Must demonstrate resilience
Must be a team player
Attention to detail is critical Line of business specific requirements:
Undertake Client Liaison meeting on a regular basis, in conjunction with the Underwriting Head or Team Manager.
Regular discussions with Underwriting Head with regards to ri

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