Treaty Underwriter (Casualty)

SUMMARY:
Self-motivated, analytical, attentive individual with a minimum of 3 years experience in treaty underwriting(casualty).

POSITION INFO:

JOB SUMMARY:

• To manage the business relationship with assigned cedants and brokers in order to achieve profitability, liquidity,business growth and customer satisfaction on a sustainable basis.
• To provide the support and information required in driving the business development strategy and initiatives of the Company, especially to lead the initiative to grow the casualty line of business.
• To contribute to team decisions on underwriting, marketing and management activities.
• To render support and technical assistance to clients on a need basis.
• To promote the Companys image, reputation and commitment to honour its obligation

PRIMARY RESPONSIBILITIES:

• Lead the underwriting and marketing effort to profitably grow the casualty component of the treaty business portfolio to specified target levels in the medium term.
• Provide statistics, own analysis, recommendation and other relevant information to aid the General Manager Technical Operations and the Underwriting Committee in soliciting, winning, evaluating and deciding on (accepting or declining) business offers from assigned existing and potential cedants and brokers. Maintain proper record of all business offers received and the decisions taken thereon.
• Establish and maintain appropriate contracts on all business offers accepted from assigned cedants and brokers in the company’s records/processing system (SICS) with accurate capture of the respective business terms.
• Prepare EPI Sheets and Renewal Information Sheets. Update renewal, new business and business declined lists.
• Obtain data from cedants/brokers on assigned treaty business, analyse and confirm such data to the company’s records, and interpret and recommend appropriate business action (renewal, cancellation, variation in terms, etc.) on the respective treaties.
• Develop and maintain up-to-date statistics on the performance of all assigned treaties to assist with the evaluation of renewal terms; propose remedial action on all treaties with unsatisfactory performance on a timely basis.
• Prepare designated reports to show the profitability, liquidity and sustainability/growth prospects of all business underwritten from assigned cedants, with appropriate comparison to their related targets, analysing all significant variations with a view to explaining the performance and recommending appropriate remedial actions to address any unsatisfactory performance on a regular and timely basis.
• Review the reconciliation of cedant and broker accounts to counterparty information and assist with chasing collection/settlement of all outstanding balances.
• Prepare and coordinate the review, approval, finalisation, circulation and regular update/maintenance of treaty wordings in support of every assigned treaty business to reflect the terms of the agreement with cedants/brokers and ensure conformity with the Group Underwriting Manual, operating/underwriting guidelines, administrative or other memoranda, and other policy documents in force as well as in conformity with applicable legislation.
• Participate in the quarterly determination of pipeline premium and claims estimates relating to assigned cedants in accordance with the company’s procedures and, in the process, advise on the adequacy or otherwise of these estimates based on own understanding of the business and its development/trend.
• Participate (as may be required) and provide data/input to the development, implementation and review of strategic, business development, marketing and operational plans, initiatives and budgets for Management.
• Prepare regular (monthly, quarterly, annual and other periodic and/or ad-hoc) reports and reviews on the implementation and overall effectiveness of strategic and operational plans and budgets for assigned treaty businesses as may be required.
• Provide effective client service through rendering efficient, yet professional, service to all clients without compromising the policy, procedural and control requirements of the Company and the Corporation; and propose and implement approved client service improvement initiatives on a regular basis.
• Attend to client correspondence, business and social functions and other related activities for overall marketing effectiveness as may be directed by the General Manager Technical Operations.
• Provide support, expert advice, training and other technical assistance to assigned clients on a need basis (especially on their direct underwriting and product development activities) or as may be directed by the  General Manager Technical Operations in furtherance of the business interests of both the cedants and the company.
• Promote productivity, good conduct, discipline, loyalty and team spirit with and amongst colleagues.
• Provide effective client service through rendering efficient, yet professional, service to all clients without compromising the policy, procedural and control requirements of the Company and the Corporation in the underwriting process and the discharge of other assignments.
• Assist with monitoring risk and catastrophe exposure to satisfy the requirements of retrocessionaires, regulatory authorities, rating agencies, the analytics team, internal & external auditors, Company Management, Company HQ and other users.
• Assist with chasing outstanding documents and payments due to/from cedants/brokers – including but not limited to debit and credit notes, account statements, minimum & deposit premiums due but unpaid, cash loss credits, and delinquent account balances as may be required and requested through the General Manager Technical Operations or Management.

QUALIFICATIONS,EXPERIENCE AND PERSONAL ATTRIBUTES:

• Bachelor’s degree (B Sc, B Com) in Insurance, Risk Management, Economics, Business Administration or related field plus minimum of three years’ experience in reinsurance treaty underwriting with considerable/verifiable focus on casualty underwriting

OR

• Post-matric qualification (including membership of a relevant professional association) plus a minimum of five years’ experience in reinsurance treaty underwriting with considerable/verifiable focus on casualty underwriting.
• Working knowledge of Microsoft Office products especially Office 365
• Basic knowledge of enterprise resource planning solutions such as Oracle E-Business Suite will be an added advantage
• Attention to details
• Strong communication skills
• Strong observation, quantitative and analytical skills
• Strong problem-solving skills
• Self-motivated
• Willingness to learn.

Please note: This position is open to qualified South Africans only and attracts market-competitive remuneration that is based on the appointed candidate’s qualifications and experience. Preference will however be given to employment equity candidates.

Application documents comprising application letter, comprehensive curriculum vitae (including physical, telephone and two referees’ contact details), copies of qualifications and a copy of national identity card document should be provided.

 

 

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