Financial Lines Underwriter

1 month ago

Sandton, South Africa Santam Full time
Job Title: Financial Lines Underwriter

We are seeking a skilled Financial Lines Underwriter to join our team at Santam. As a key member of our underwriting team, you will be responsible for carefully selecting, analyzing, and underwriting risks in a cost-effective manner, ensuring good risk selection and profitability.

Key Responsibilities:
  • Examine insurance proposals for new and renewal business, gathering and assessing background information, conducting necessary research, evaluating and assessing the risk, and discussing/negotiating risks with brokers.
  • Calculate possible risk and determine appropriate insurance premiums using underwriting tools and practices, underwriting information, and your own judgment 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 the cancellation reserve does not exceed 2.5%.
  • Set accurate, realistic premium forecasts as required and in a timely manner to enable management to set budgets and monitor performance targets for your own portfolio of accounts.
  • Articulate technical messaging, internally, as well as to brokers and clients, and 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 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.
  • Contribute as required to projects or other initiatives designed to improve the effectiveness or efficiency of the department.
  • Undertake any other reasonable tasks as requested by the Leadership in order that the team achieves its objectives.
  • Adhere to all operational and procedural standards.
  • Handle accounts queries and credit control queries to the satisfaction of all parties.
Requirements:
  • NQF 7 insurance or risk management qualification.
  • Minimum of 12 months technical experience in the relevant line of business as a trainee or under supervision.
  • FAIS Compliance and RE5 a preference.
  • Basic understanding of the insurance industry, including the reinsurance market, and the terminologies used.
  • Understanding of policy wordings, specifically related to your Line of Business.
  • Able to evaluate information from a variety of sources and solve problems.
Knowledge and Skills:
  • Good decision-making skills; able to consider the costs and benefits of various options and recommend the appropriate one as part of the referral process.
  • Good communication and interpersonal skills; comfortable with phone and face-to-face complex discussions with underwriters, brokers, and any other relevant stakeholders.
  • Deadline-focused; able to work under pressure to meet tight deadlines and able to organize your own workload effectively to prioritize and delegate to meet service standards.
  • Competent user of Excel, Word, Outlook, and other Microsoft platforms.
  • Operationally efficient; able to follow all process requirements.
  • Assessment of financial statements of businesses across a broad spectrum of industries.
  • Identification of financial, governance, and fraud risks.
  • Research and assess risks utilizing data outside of the financial statements (SENS, social media, general news media).
Language:

English

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