Insurance Underwriter - Specialty Schemes

SUMMARY:
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POSITION INFO:

Education & Work Experience Required:
• Matric
• Insurance related qualification or studying towards it.
• RE and FAIS compliance
• Good knowledge of basic insurance principals with at least 3 years’ experience across multiple product lines, schemes administration and underwriting (specialist or commercial) including:
o Insurance terminology
o Compliance
o Audit
o Basic rating principles
o Risk assessment knowledge
o Market knowledge (including competitors)
o Underwriting procedure
o Claims procedure
o Credit Control
o Reinsurance market, reinsurance and treaties

Job Purpose
• Identify, develop and maintain effective business relationships with brokers in order to attract develop and retain profitable business within the schemes area
• Process all underwriting transactions and administration assigned, within the set standards thus contributing to the productivity of the schemes underwriting department as set out within parameters delegated to you from time to time.
• Effectively market all products and services within the company.

Products that would fall into the Schemes area include but not limited to:
• Professional Indemnity
• Medical Malpractice
• Commercial Crime
• General Liabilities
• Cyber
• Directors and Officers Liability
• Trustee Liability
• Art Insurance

Key Responsibilities
• Responsible for relationship management of a portfolio of brokers
• Review of existing schemes and performance of each under portfolio
o Binders
o Outsource
o RI Agreements
? Recommend creative alternatives in regards to rating plans, coverage and payment plans.
? Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
? Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business. Service, grow and maintain renewal policies. Confirm rating and cover on endorsements requested.
• Audits of portfolio
o Conduct regular audits on existing scheme facilities and report back to the client and internally re findings and ensure that any recommendations and findings are implemented accordingly
• Monthly requirements:
o Complaints Management
o Prudential Authority
o Data Quality
o Bordereaux
? Ensure that all premiums are received and up to date on all accounts in portfolio, in collaboration with credit control review and discuss all outstanding premiums and arrears with Brokers on a monthly basis.
o Binder Fee oversight and payments
o Disclosure checks
• Quarterly Requirements
o Minuted Meetings
• Ad-hoc responsibilities:
o Referrals from brokers
? Analyse qualitative and quantitative data prepared by brokers to provide approval for risk selection and acceptance, coverage and price within the boundaries of the specific scheme.
? Underwrite, assess in conjunction with the Product Champions and or within delegated mandates those accounts referred that are wide of any scheme underwriting parameters
o Queries relating to the scheme and binder area
• Be involved in the onboarding process of new schemes / agreements:
o Sub Agency Agreements
o Product Development Requirements
? Schedule and Disclosure
? Data
? Claims Mandates
? Underwriting Guides
• All filing, drawing of renewal files, renewal listings & pre-renewal notifications.
• Recordkeeping (summaries of Schemes, registers, bordereau’s, documents, e-mails etc) to be kept up to date at all times. Quality standards to be adhered to at all times.

Compliance and Related:
• Ensure the all schemes comply with the Hollard internal requirements as well as statutory legislation in terms of documentation, fees, binder agreements, data submissions
• Ensure full compliance to all processes, policies and procedures and identify areas for improvement

Marketing and Internal Processes:
• Sell Schemes products and offerings to brokers and/or agents using consultative selling techniques.
• Contribute to effective marketing of the Company products by answering questions, resolve problems on topics such as policy status, billing, etc, and explaining new or revised products and processes.
• Identify prospective customers using established lead methods.
• Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
• Produce monthly reports detailing sales and underwriting trends.
• Participate with management in initiatives around product development, processes, policy and strategy.
• Maintain a high level of service to customers (internal and external) according to service level agreements and within the service standards as set by the company.
• Communicate in a professional manner with internal and external parties and respond to queries within 24 hours.
• Take responsibility for your own career growth and have regular discussions with the relevant role players.
• Ensure that customers are treated fairly.

NB! This job is now closed. You can apply for other jobs by uploading your CV.