Emerald , a division of Santam , has an opening for an Underwriter , who will be based in 8 Office Park Waterford, Waterford Dr, Fourways.
What will you do?
The individual will be responsible for managing the underwriting of new and renewal corporate property insurance business and placing the necessary facultative reinsurance.
The suitable candidate will be expected to interact and work effectively with members of the management team, play an effective role in the improvement of the company’s product and department documentation, assuming marketing and business growth targets and interaction with business partners/brokers and potential new clients. The candidate must have strong underwriting and negotiation skills, as well as the ability to operate under demanding deadlines and be able to prioritize and organize tasks and follow up efficiently with brokers/reinsurance brokers, underwriters, managers, and members of other departments within the company.
The candidate will be expected to contribute towards sustaining and growing a profitable book of business whilst enhancing the brand and reputation of Emerald on a day-to-day basis.
The individual applying for this position needs to be self-disciplined, conduct themselves in a professional manner, and must also be well presented, self-motivated, and possess excellent written and verbal communication skills.
What will make you successful in this role?
The role includes, but is not limited to the following:
- Enhance the Emerald brand and foster a corporate culture that promotes sustainable ethical practices.
- Support all Emerald financial and growth objectives.
- Support the marketing endeavors to achieve growth and profitability in line with the Company objectives and business plan, including supporting the Emerald/Santam Specialist office in London.
- Underwriting File Management to support the efficient operation of Risk Administration.
- Maintain Company underwriting standards/disciplines based on required information including Insured’s Loss Ratio, Risk Concerns, Policy Loss Limits, Deductibles, proposed Wordings, and any other relevant information that may affect renewal terms.
- Risk assessment by analysis of risk management reports, discussion with internal and external risk managers and engineers, and subsequent motivation and implementation of risk improvement recommendations.
- Technical Analysis and technical discussions and negotiations on policy wordings.
- Implement and negotiate facultative reinsurance within company appetite and monitor reinsurance placements/Slips – checking pertinent information.
- Prepare Technical Rating Reviews/Client Risk Profiles/Claims history reviews/Final Checklist for completion of renewals.
- Participate in broker visits, insurance industry functions, and marketing events in support of broker relationship development.
- Consult with management regarding unique or unusual risks to minimize adverse risk selection and to maintain the quality and profitability of the portfolio and refer risks outside the established authority levels.
- Maintain knowledge of industry trends, developments, and regulatory changes, including competitive analysis and information.
- Ensure the team complies with all relevant terms and conditions of binder and mandate.
- Local and international travel where and when required by management.
Qualification and Experience
- 5 – 7 years’ experience.
- IISA Qualification and/or equivalent professional qualification.
- Successful completion of RE Examination.
- Working knowledge of and previous interaction with African and South African retail and reinsurance brokers, reinsurers, and clients.
- Strong networking skills with national and international brokers/reinsurance brokers.
- Experience and knowledge of the Microsoft Office system.
Knowledge and Skills
- Compiling and presenting written and verbal business presentations including material directed at Business Partners and internally to management.
- Analysis of broker/RI broker submissions on new business and renewals and the underwriting of business to ensure profitability for the department.
- Compilation and submission of new business and renewal business to reinsurers and reinsurance brokers to ensure cost-effective facultative support if required.
- Lead technical discussions and negotiations of policy wordings.
- Provide technical underwriting input in respect of claims-related matters.
- Assume responsibility for documentation issued by the candidate regarding new business and renewal of existing business within mandated authority.
- Monitoring and Control of Documentation to internal departments, including but not limited to Risk Administration.
- Ensure effectiveness in workflow in dealing with the underwriting process from quotations to processing stages.
- Compliance with regulations and delegated authority levels and execution of business within mandates.
- Compilation and production of data and reports as required by line managers/executive managers of the Company.
- Effective interaction with internal and external Risk Engineering departments, including, but not limited to, the scheduling of site visits and accompaniment during site visits with the internal and external Risk Engineers.
- Ensure adherence to Emerald underwriting guidelines and peer review.
Our commitment to transformation
Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding, and transforming company, and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia.
Our success is rooted in our passion for our clients and everything we do is centered on our delivery of Insurance Good and Proper. We’re about people. People drive our business, so it follows that we want to recruit the best people possible whether they work for us permanently or for a short time as temporary employees.
Emerald Risk Transfer (Pty) Ltd is committed to transformation and embracing diversity. Our employment equity plan and targets will be considered as part of the recruitment process. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society as well as people with disabilities.
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