Senior Underwriter: Motor Fleets

3 weeks ago


Johannesburg, South Africa Sanlam Full time

**What will you do?**
- A Senior Underwriter will have the experience to carefully select, analyse and underwrite risks, in a cost-effective manner and in accordance with company requirements, guidelines and governance, to ensure good risk selection and profitability and ensure business targets are met.- They will support the leadership team with the day-to-day management and operation of the department including knowledge sharing and guidance of junior team members and leading by example. Maintaining industry awareness, innovating (product, process and marketing) and staying up to date with general market intelligence, technology and other relevant developments will also be crucial.**What will make you successful in this role?**

**Technical**
- Examine insurance proposal for 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 and practices, underwriting information and own judgement and experience.
- Quote within designated authority levels and refer where necessary in accordance with company policy and technical guidelines.
- Monitor portfolio performance and ensure that renewals, new business, lost business are tracked and that the cancellation reserve does not exceed 2.5%.
- Set accurate, realistic premium forecasts and draft financial reporting as required in a timely manner to enable management to set budgets and monitor performance targets for your own portfolio of accounts and as a contribution to the team portfolio.
- Be able to confidently articulate technical messaging and deliver training, as and when necessary, internally as well as to brokers and clients.
- Support junior underwriters with the underwriting process and renewal negotiations as necessary.
- 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.
- Proactively participate in projects or other initiatives designed to improve the effectiveness or efficiency of the department.
- Undertake any other reasonable tasks as requested by the U/W Head or Manager in order that the team achieve its objectives.
- Ability to use Portfolio underwriting methodologies to assist Senior leadership in making key underwriting decisions.
- Design and implement underwriting guidelines and methodologies.
- Adhere to and where possible, improve, all operational and procedural standards.
- Peer review and sign off including checking policy documentation for all accounts within authority but outside of junior staff authority.
- Handle accounts queries and credit control queries to the satisfaction of all parties.

**Leadership qualities / leading by example**
- Seek out and leverage diversity (in all its forms) to create an inclusive work environment.
- Drive innovation and fresh perspectives and embed them in 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).
- Understanding of the portfolio (top line/bottom line), claims trends and other management metrics.
- Strategic input as and when required as well as following, disseminating and articulating strategic messages to junior colleagues and external stakeholders.

**What will make you successful in this role?**

**Client and marketing responsibilities**
- Develop and maintain relationships with brokers and clients at all relevant levels of their businesses.
- Visit brokers to discuss renewals and new business with a focus to build relationships and develop market presence.
- Feedback on market intelligence.
- 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 and provide support to and monitoring of the department’s adherence to Group and Regulatory guidelines.
- Provide proactive risk and compliance awareness by reporting any incidents or breaches identified within our compliance requirements.
- Perform underwriting and operational audits to ensure compliance and address breaches where necessary.

**Qualification, Skills and Experience**
- NQF 7 insurance or risk management qualification
- Minimum of 5 years technical experience in the relevant line of business.
- FAIS Compliance and RE5.
- Good understanding of insurance industry including the reinsurance market and the terminologies used.
- Sound technical understanding of policy wordings.
- Able to evalu



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