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COMMERCIAL UNDERWRITER

COMMERCIAL UNDERWRITER

Mirror ImagesJohannesburg, South Africa
30+ days ago
Job description

Academic (Degree or Diploma) : Matric, FAIS Compliant (Full Short Term Insurance Qualification at NQF level 4 or higher)

Functional Certificate Courses : Successfully Completed RE 5

Minimum five years relevant work experience in Short Term Insurance

  • Ability to function independently and under pressure;
  • Assertiveness;
  • Continuous Learning;
  • Commitment;
  • Customer Driven;
  • Excellent Communication skills;
  • Flexible and Adaptable to change;
  • Goal oriented;
  • High attention to detail;
  • Honesty, Integrity and Ethical Behaviour;
  • Results oriented;
  • Self-Starter / Proactive / Ability to use own initiative;
  • Team player.

Key Performance Areas :

  • Underwriting
  • Manage own area of Control
  • Key Clients : Directors; Management; Internal Staff; External Service Providers; Clients / Customers

    Performance Standard / Quality Standards

  • Capture and collate client and risk details received from Sales;
  • Binder Insurers : Quote and underwrite in line with Insurer Underwriting Guidelines and mandates.
  • Other Insures : Approach market for quotes;
  • Provide Sales with quotes and product comparison from Insurers.
  • Ensure all FAIS documents are completed and signed by Client and Sales.
  • On confirmation from client / sales arrange cover with Insurer.
  • Process policy documents raise debits where applicable;
  • New business pack to be emailed to AE / Client.
  • Renewals :

    Renewal listing, claims experience and loss ratio will be provided 12 weeks prior to renewal (renewals are created automatically in accordance with renewal rule set)

  • Check to see if all relevant FAIS documents are on file, if not request outstanding documents from AE.
  • Review the latest record of advice on the policy;
  • Review correctness of cover and insured details on policy;
  • Send the renewal comparison and schedule to the insurer for review and sign off.
  • Sales to provide negotiated terms on policies with insurer terms wide of automated rule set.
  • Do not amend any renewal terms, unless agreed and signed off by the Insurer.
  • Binder Insurers : Renew in line with Insurer Underwriting Guidelines and mandates.
  • Assist AE with market exercise where necessary
  • AE to provide ROA, minutes of meeting of renewal discussion with client attach to policy
  • Provide Insurer with finalised renewal schedule
  • Process policy documents raise debits where applicable ensuring debit is raised in correct financial period.
  • Send completed / signed off renewal to client (copying in AE)
  • Confirmations :

  • Cover confirmation to be processed immediately cc AE, client and Insurer
  • Diarise if there is outstanding information.
  • Process amendment directly request outstanding info and diarise if not provided.
  • Amendments :

  • Acknowledge receipt of amendment request advise AE;
  • Binder Insurers : Process amendment in line with Insurer Underwriting Guide and mandates;
  • Other Insurers : Obtain terms and process amendment;
  • Send copy to Insurers this is applicable to Commercial only;
  • Email updated schedule to client, copying the AE;
  • Cancellations :

  • Advise AE immediately.
  • AE to complete the retention form and advise why they could not retain
  • Send to Team Lead for cancellation to be actioned.
  • Prep refund requisition when required - send to Team Leader to be authorised and send to finance to action refund.
  • Multi-Claimants / Portfolio Management :

  • Review policies for corrective action, make recommendations and send to insurers for sign off
  • Process corrective endorsement / cancellation on Insurers advice.
  • Or

  • Process corrective endorsement / cancellation as part of the renewal (rule set) raised;
  • Manage own area of control :

  • Annual leave : Ensure all outstanding mails / tasks have been attended to prior to going on leave.
  • Be punctual, keeping to prescribed hours / timekeeping;
  • Deadlines : Ensure all turnaround times and target dates are adhered to;
  • Display personal accountability for own actions, quality of work and personal development;
  • Effectively and efficiently maintain electronic filing system.
  • Ensure that accurate record is kept of all new matters received in the department; Ensure that all deadlines are met, and that SLAs are adhered to;
  • Ensure required response times to emails and telephonic messages are adhered to.
  • Ensure all diary items are kept, followed up and actioned close when finalised
  • Ensure that all relevant Procedure Manuals (Standard Operating Procedures) are adhered to.
  • Always Exhibit Core Values (Professionalism, Integrity, Perseverance, Positive Attitude).
  • Maintaining professional behaviour and work ethic;
  • Perform adhoc duties as allocated from time to time;
  • Team player and adhere to the backup arrangement as required by department to ensure cohesion.
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    Commercial Underwriter • Johannesburg, South Africa

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