Commercial Underwriter (Property)
A Property Underwriter opportunity is available within Risk Services: Commercial Underwriting, and is based at our Sandton offices.
NB! Please note that you must have a Bachelors' Degree/AIISA or comparable short term insurance qualification with at least 10 years' Commercial Underwriting short-term insurance experience (which includes 5 years' experience in Pricing and Underwriting of Property risks) in order for your application to be considered.
To be responsible for the underwriting performance of Santam's Property business, which includes involvement with the design of the product, maintaining and updating it to remain relevant and compete effectively in the Commercial Underwriting market.
PRINCIPLE ACCOUNTABILITIES INCLUDE:
- Responsible for balancing growth and profitability of the Property portfolio (shared responsibility with Broker Services).
- Manage appropriate underwriting rules for the Property portfolio aligned with Santam's risk appetite and rating structures
- Provide technical underwriting expertise and advice to internal staff, policyholders and intermediaries
- Understand, translate and champion the underwriting needs of intermediaries, staff and clients
- Accompany KAMs (Key Account Managers) to meetings with National Brokers to discuss, negotiate and sign-off new Broker bespoke products as well as maintenance of current bespoke products
- Identify underwriting trends and address pro-actively
- Develop market intelligence for benchmarking
- Compile Underwriting circulars and other communication to staff and brokers when changes take place or to remind staff/brokers of underwriting issues
- Handle referrals from branches and CCCs for complex underwriting and pricing exceptions
- Influence the behaviour of the Commercial Contact Centre and CoE Managers as well as Managers of other Distribution channels in terms of underwriting applied on policies as well as UW actions taken which impact UW profit.
- Draft clauses for new covers and specific underwriting actions prior to obtaining comment from Corporate Legal Services (CLS).
- Assist Senior Property Underwriter with adhoc projects for the Property Portfolio as and when it is necessary
- Do user acceptance testing with regards to development of new Property product underwriting functionality on PolicyCentre
- Assist with transfer of skills to Commercial CoE and Technical Managers
- Do underwriting governance to ensure compliance with underwriting rules
- Bachelors' Degree/AIISA or comparable short term insurance qualification (should be completed with or at least have started the Insurance related exams via IISA or Milpark)
- FAIS compliance (min of 120 credits in commercial insurance)
- Minimum of 10 years' short-term insurance industry experience within a Commercial Underwriting environment
- Minimum of 5 years' experience in Pricing and Underwriting of Property risks
- Advance knowledge in MS Office: Word, Excel, PowerPoint, Outlook
- In depth knowledge and understanding of commercial policy wordings (Property Classes)
- Extensive short-term insurance knowledge
- Understanding of Commercial Underwriting quoting tools
- In depth technical Underwriting skills and knowledge to write Property (including Engineering and Marine) related risks
- Ability to statistically analyse information and data
- Advanced numeracy skills
- Appreciation of insurance and underwriting principles
- Presentation skills
- Santam Underwriting and Policy Administration Systems, namely: WEBe, Mainframe, PolicyCenter (will be advantageous)
- Fully bilingual (English and Afrikaans) - written and verbal
- Collaborates - building partnerships and working collaboratively and inclusively with others to meet shared objectives
- Client focus - building strong client relationships and delivering client centric solutions
- Drives results - consistently seizing opportunities and achieving results even under tough circumstances
- Flexibility and adaptability - rebounding from setbacks and adversity when facing difficult situations
- Cultivates Innovation - Creating new and better ways for the organisation to be successful
- Problem solving
- Producing creative solutions
- Ability to cope with conflicting demands and to prioritise tasks
- Performing under pressure
- Enterprising and commercial thinking
- Deciding and initiating action
- Ability to influence
- Building networks and good relations