Safire Insurance Company Limited is a short-term insurer, with our head office based in Pietermaritzburg, Kwa-Zulu Natal. Founded in 1987, Safire has grown its products to include a wide range of short-term insurance products designed to meet the needs and demands of our clients.
Safire is a dynamic and accomplished organisation with a strong commitment to core values. We provide an outstanding corporate environment characterised by a foundation of effective communication, remarkable accomplishments, a culture of knowledge sharing, collaborative teamwork, and seamless cooperation.
We are looking for skilled and analytical domestic and commercial underwriters to join our short-term insurance team. Our underwriters play a crucial role in assessing and evaluating insurance requests, determining risk levels, and making sound underwriting decisions.
Location: Pietermaritzburg
THE MAIN RESPONSIBILITIES OF THE ROLE INCLUDE
Risk Assessment
- Evaluate insurance requests, policies and supporting documents to determine the level of risk.
- Utilise underwriting guidelines to assess client’s eligibility for coverage.
- Underwrite within the mandate and reinsurance parameters.
- All risks need to be assessed on policy inception, endorsement / changes policy renewals.
Calculation of premium
- Calculate premium based on risk factors.
Underwriting decisions
- Make informed underwriting decisions.
- Document and record decisions communicated to stakeholders.
Compliance and Regulations
- Stay informed with industry regulations and internal underwriting guidelines.
- Ensure all underwriting practices are in full compliance with legal and company rules.
Customer Interaction
- Collaborate with all stakeholders to clarify underwriting requirements and address enquiries.
- Provide clear and professional communication regarding underwriting decisions.
Quality Control
- Conduct periodic audits to ensure adherence to underwriting guidelines.
- Implement quality control measures to maintain the accuracy and consistency of underwriting practices.
Policy Endorsements and Renewals
- Process policy endorsements and amendments to existing policies.
- Ensure renewal processes are carried out accurately and efficiently.
Documentation and Record-Keeping
- Maintain organised and secure records of underwriting decisions, correspondence, and reports.
Continuous Improvement
- Proactively suggest process improvements and contribute to the development of underwriting guidelines and policies.
THE QUALIFICATIONS AND EXPERIENCE WE ARE LOOKING FOR
- Tertiary qualification in insurance and / or bachelor’s degree in finance, business, or related field.
- FAIS Regulatory Examination (RE5) (advantageous).
- Adhere to all FAIS Fit and Proper requirements.
- Experience as domestic and / or commercial short-term underwriter, minimum 3 years.
THE COMPETENCIES WE REQUIRE ARE
- Strong analytical and underwriting decision-making skills.
- Knowledge of short-term insurance principles and industry regulations.
- Technically proficient with insurance products relevant to type of insurance being offered.
- Proficiency in the relevant short-term insurance legislation.
- Excellent communication and interpersonal skills.
- Can work under pressure and with a sense of urgency and assertiveness.
- Ability to work independently, work as part of a team and enjoy collaboration.
- Act ethically and respectfully in every situation.
- Willingness to embrace new ideas.
- Diligent, reliable and detail oriented.
- Highly organised and deliver work on time and to the highest standard.
- Build strong and cohesive relationships with all relevant stakeholders.
- Proficiency in the MS Office Suite.
How to apply
If you think that you are the perfect fit for the position, please apply by emailing your CV to:
Subject: SAF-UW2023-PMB
Safire is an Equal Opportunity Employer.
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