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, and assume marketing and business growth targets while interacting 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, prioritise and organise tasks, and follow up efficiently and effectively 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 marketing endeavors to achieve growth and profitability in line with the Company objectives and business plan.
- Underwriting File Management to support the efficient operation of Risk Administration.
- Maintain Company underwriting standards 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 of and technical discussions and negotiations on policy wordings.
- Implement and negotiate facultative reinsurance within company appetite and monitor reinsurance placements.
- Prepare Technical Rating Reviews, Client Risk Profiles, Claims history reviews, and 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.
- Maintain knowledge of industry trends, developments, and regulatory changes.
- 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 Microsoft Office system.
Knowledge and Skills
- Compiling and presenting written and verbal business presentations.
- Analysis of broker submissions on new business and renewals.
- Compilation and submission of new business and renewal business to reinsurers.
- 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.
- Monitoring and Control of Documentation to internal departments.
- Ensure effectiveness in workflow in dealing with underwriting process.
- Compliance with regulations and delegated authority levels.
- Compilation and production of data and reports as required.
- Effective interaction with internal and external Risk Engineering departments.
- Ensure adherence to Emerald underwriting guidelines and peer review.
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