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  • Senior Underwriter - Gauteng - Santam Insurance

    Santam Insurance
    Santam Insurance Gauteng

    1 day ago

    Default job background
    Accounting / Finance
    Description

    We are seeking a highly skilled Senior Underwriter: Financial Lines to join Santam Insurance.

    Job Summary

    The successful candidate will have the experience and expertise to carefully select, analyze, and underwrite risks in a cost-effective manner while ensuring good risk selection and profitability. They will support the leadership team with day-to-day management and operation of the department, including knowledge sharing and guidance of junior team members.

    Key Responsibilities:

    1. Examine insurance proposals for new and renewal business, gathering and assessing background information, conducting necessary research, evaluating and assessing the risk, and discussing/negotiating risks with brokers.
    2. Calculate possible risk and determine appropriate insurance premiums using underwriting tools and practices.
    3. Quote within designated authority levels and refer where necessary in accordance with company policy and technical guidelines.
    4. Monitor portfolio performance and ensure that renewals, new business, lost business are tracked and that the cancellation reserve does not exceed 2.5%.
    5. Set accurate, realistic premium forecasts and draft financial reporting as required in a timely manner.
    6. Articulate technical messaging and deliver training internally and externally as necessary.
    7. Support junior underwriters with the underwriting process and renewal negotiations.
    8. Accurately enter data into company systems and produce management reports.
    9. Maintain accurate electronic records for auditing and regulatory purposes.
    10. Participate in projects designed to improve the effectiveness or efficiency of the department.
    11. Undertake any other reasonable tasks as requested by the U/W Head or Manager.

    Requirements

    1. Bachelor of Commerce in Insurance & Risk Management, Finance, Accounting, LLB, or Economics.
    2. Minimum of 5 years technical experience in the relevant line of business.
    3. FAIS Compliance and RE5.
    4. Good understanding of the insurance industry, reinsurance market, and terminologies used.
    5. Sound technical understanding of policy wordings.
    6. Able to evaluate information from various sources and solve problems.
    7. Good decision-making skills and ability to articulate complex options.
    8. Good communication and interpersonal skills.
    9. Confident in negotiation and networking scenarios.
    10. Deadline-focused with ability to work under pressure and manage workload effectively.
    11. Competent user of Excel, Word, Outlook, and other Microsoft platforms.
    12. Presentation skills with ability to present informally and formally.
    13. Intermediate to Advanced ability to assess financial statements across industries.
    14. In-depth understanding of financial markets, macro-economic factors, and emerging risks impacting Financial Lines Business Unit.

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