Pretoria: Corporate Underwriter

About the Role

The Corporate Underwriter role is a critical component of our company’s strategic plans, requiring a skilled professional to contribute towards the development and drive of our Underwriting strategy. The successful candidate will be responsible for contributing to the review of policy wordings and regulations, conducting continuous market analysis, and enhancing existing products and developing new ones.

Key Responsibilities

• Contribute towards the development of the company’s strategic plans.
• Develop and drive the Underwriting strategy.
• Review policy wordings and regulations.
• Conduct continuous market analysis.
• Enhance existing products and develop new ones.
• Review and implement departmental policies and procedures on an annual basis.
• Rate development: contribute to annual rate review to ensure adequate pricing for new and existing products in partnership with the Actuarial function.
• Risk analysis: contribute towards risk mitigation in partnership with the Business Intelligence function, improving risk mitigation.
• Analyse claims and premiums trends providing input into underwriting pricing and risk.
• Review terms and conditions of products annually to ensure they remain relevant and up-to-date.
• Contribute technical inputs on discussion and negotiations of policy wordings.
• Review broker submissions on new business and renewals, ensuring adherence to company guidelines.
• Risk assessment: analysis of risk management reports, discussion with internal and external stakeholders, and subsequent motivation and implementation of risk improvement recommendations.
• Maintain company underwriting standards/discipline based on required information.
• Conduct GAP analyses of rules and regulations to ensure they remain relevant and up-to-date.
• Handle technical queries and provide technical assistance to brokers and Agents through visits.
• Contribute to the annual rates review, ensuring competitiveness and viability of the product.
• Conduct research on possible new products and enhancements to existing products.
• Continuously review product information on our website to ensure it remains up-to-date and relevant.
• Monitor and report on loss ratio movement.
• Support sustainable pricing decisions by analysing portfolio-level risk concentration, diversification benefits, and stress scenarios.
• Compile and produce data and reports as required by line managers/executive managers of the company.
• Compliance with regulations and delegated authority levels and execution of business within mandates.
• Compilation and submission of new business and renewal business to reinsurers and reinsurance brokers.
• Monitor and apply corrective measures on multi-claimants.
• Participate in monthly operations reporting on financial and operational aspects.
• Risk Management: identifying risks and emerging risks, establishing required controls to mitigate operational risks.
• Stakeholder Engagement: engaging with legal and compliance teams to ensure adherence to regulatory requirements, continuous engagement with corporate brokers and clients.
• Collaboration with PM and Actuarial teams.
• Collaboration with Internal Audit and Quality assurance to ensure market adherence to company processes.
• Engagement with re-insurance brokers.
• Financial contribution towards compiling budgetary requirements.
• Manage allocated budget ensuring expenditure remains within the set parameters.

Requirements

• Matric
• NQF level 7 qualification (BCom degree or similar)
• Higher Certificate in Short-term Insurance RE 5 will be an added advantage

Qualifications

• None mentioned

Salary & Benefits

• Salary and benefits information not specified