Insurance Underwriter

4 days ago

Johannesburg, South Africa BAIR Recruitment Group Full time

**Required Qualifications**
**Minimum**:

- Business degree or equivalent IT and Cyber qualifications or studying towards
- RE and FAIS compliant

**Required Experience/ Required Knowledge and Skills (relevant or in a similar role)**:

- Specialist underwriting experience with at least 3 years’ experience (Cyber advantageous) including:

- Product knowledge
- Industry segmentation knowledge and applicable risk exposures
- Enquiring mind - seek out additional information in order to best understand a risk before underwriting such risk
- Underwriting procedure
- Insurance terminology
- Rating principles
- Risk Management
- Market knowledge (including competitors)
- Claims procedure
- Credit Control
- Reinsurance market, reinsurance and treaties
- Willingness to develop new underwriting experience in respect of new products introduced
- Business management
- Self-management (can organize work space, time )
- Good communication (including writing and presentation skills)
- Negotiation (internal & external)
- Sales and marketing
- Relationship management skills (have the right approach with the right people)
- Analysis and interpretation of data pertaining to assigned risks
- Well-presented / representative of the company image
- Good knowledge of MS Office - Intermediate level (including Word, Excel, PowerPoint, Outlook)
- Career orientated
- Knowledge of the Core Business Systems
- Ability to work overtime and attend functions

**Job Profile**

**Underwrite cyber risk Insurance.**:

- Adhere to individual underwriting mandates and guidelines to ensure responsible underwriting and profitability of their portfolio
- Approve risk selection within the boundaries of the specific product line. Quote, accept and renew risks within the agreed guidelines of the service level agreement and within delegated mandates
- Combination of both internal and external relationship development on all liability products and services to brokers, resulting in renewals or sales
- Action all requests from credit control team
- Re-underwrite renewals to ensure organic growth and maintain profitability of portfolio
- Develop and maintain effective business relationships brokers in order to attract, develop and retain profitable business.
- Ensure all technical aspects and administrative functions of underwriting are adhered to.
- Train and mentor the team and brokers on product lines
- To assist in placing risks that falls outside of the scope of treaty reinsurance, into other markets locally and overseas

Underwriting/Risk Analysis:

- Analyze qualitative and quantitative data prepared by and brokers to provide approval for risk selection and acceptance, coverage and price.
- Recommend creative alternatives in regards to rating plans, coverage and payment plans. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
- Decline unsuitable risks (and log these on the decline register for record purposes).
- Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system.

Account Management:

- Meet goals for volume and value of quality new business quoted and written within company guidelines.
- Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
- Service, grow and maintain renewal policies and re-underwrite where required
- Confirm rating and cover on endorsements requested.
- Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
- Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control and sales team.

Relationship Management:

- Interact on a day-to-day basis with brokers.
- Customer service: Provide timely and professional customer service to stakeholders.
- Effective communication: Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
- Market Intelligence: Sound knowledge of underwriting principles in industry.
- Innovation: Participate with management in initiatives around product development, processes, policy and strategy.
- Continuous Process Improvement: Ensure full compliance to all processes, policies and procedures and identify areas for improvement.
- TCF: Ensure that customers are treated fairly.
- Employee Growth: Take responsibility for your own career growth and have regular discussions with relevant role players. Train junior underwriters on product lines to assist in their career growth

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