Commercial Underwriter

Our client is looking for a commercial underwriter that will be able to do the following:

Risk Assessment and Analysis:

• Analyse and interpret data related to commercial risks, including property, liability, motor, engineering, and other short-term insurance lines.
• Review applications, inspection reports, and financial statements to determine the degree of risk for potential clients.
• Assess external factors affecting risk, such as economic trends, regulatory changes, and claims history.

Underwriting Decisions:

• Make informed decisions about whether to accept or decline insurance applications.
• Determine appropriate terms, coverage limits, premiums, and conditions for policies.
• Negotiate terms and conditions with brokers and clients within delegated authority.

Portfolio Management:

• Manage an assigned book of business, monitoring performance and profitability.
• Regularly review the portfolio for adverse trends and take corrective action where necessary.
• Renew existing policies and adjust terms based on updated risk evaluations.

Broker and Client Relationship Management:

• Develop and maintain strong relationships with insurance brokers, agents, and direct clients.
• Provide expert advice and guidance on insurance solutions, policy wording, and claims processes.
• Deliver responsive, professional service to ensure high levels of broker and client satisfaction.
• Conduct client and broker visits as required to deepen understanding of risks and business operations.

Compliance and Documentation:

• Ensure all underwriting activities comply with company policies, regulatory requirements, and best practices.
• Accurately document decisions, correspondence, and policy details in the underwriting system.
• Participate in internal and external audits as required.

Product Development and Innovation:

• Contribute to the development and refinement of insurance products by providing underwriting insights and suggestions.
• Keep abreast of emerging risks, technologies, and trends in the commercial insurance market.
• Participate in product launches and training sessions for brokers and clients.

Claims

Collaboration:

• Work closely with the claims department to understand loss trends and improve underwriting guidelines.
• Assist in complex claim investigations where underwriting input is required.

Formal education:

• Matric
• Commercial Lines Class of Business
• Regulatory Exam Level 1
• NQF 5 in Short-Term Insurance
• A minimum of five years of relevant commercial underwriting experience