Technical Underwriter MMH260724-10

Role Purpose

To discharge Underwriting administrative functions including tracking Underwriting risk management activities in line with business underwriting policy. Perform Underwriting tasks including but not limited to quote assessment, reinsurance administration, survey administration and underwriting quality assurance. Provide support to the underwriting team as well as Sales, Client Care, Claims and L&D.

Requirements Experience and Qualifications

• Grade 12 or equivalent qualification (essential)
• Regulatory Examination (RE5) qualification (essential)
• Bachelor's degree in Business, Finance, Insurance, or a related field (preferred)
• Minimum of 5 years' underwriting experience (essential)
• Experience in financial services (essential)

Duties and Responsibilities

Internal Processes

• Analyse and evaluate risks in accordance with underwriting guide to determine acceptability through MyActivity process.
• Support the effective management of the underwriting portfolio by ensuring risks are assessed in accordance with underwriting appetite, risk management principles, treaty requirements and regulatory obligations.
• Contact relevant stakeholders to obtain outstanding information relevant to risk acceptance.
• Perform quality assurance on submitted quotations.
• Identify reinsurance needs and initiate reinsurance process.
• Make recommendations to Underwriting Manager based on assessment findings where risks exceed underwriter mandate.
• Assess survey needs in accordance with survey guidelines and process.
• Review risks and prepare risk related letters.
• Maintain records and follow-up on compliance.
• Identify risk improvement opportunities and recommend appropriate underwriting conditions, warranties, excess structures and risk mitigation measures to reduce loss frequency and severity.
• Prepare multiclaimant and post loss recommendations for review by Underwriting Manager.
• Maintain detailed records of policies underwritten and decisions made in line with underwriting policies and relevant legislation.
• Maintain and update Reports and Trackers.
• Maintain service level agreements to ensure tasks are processed timeously.
• Review statistics and prepare reports for Underwriting Management and Stakeholders.
• Analyse underwriting, claims and survey data to identify trends, monitor portfolio performance and support underwriting strategy.
• Keep up-to-date technically and apply new knowledge to your job (Continuous professional learning and development in insurance, risk management principles/practices plus contract, property, or insurance laws).
• Resolve challenges, conflicts and settle disputes with regards to underwriting and sales process application, or otherwise negotiating with others including Sales, CC, Claims, Brokers, Finance, and clients.
• Perform ongoing quality assurance on existing policies and select portfolio clusters (e.g., Transporters and Fire + BI over Treaty retention), ensure risk mitigation terms are in place including Reinsurance and Treaty Acceptance.
• Monitor portfolio performance and identify emerging risk trends, loss drivers, accumulation exposures and adverse claims experience. Make recommendations to Underwriting Management to improve portfolio profitability, risk quality and underwriting outcomes.
• Guide junior underwriters with risk management/underwriting principles, system proficiency, etc.
• General support with ad-hoc queries and once-off projects.
• Make recommendations on large losses for underwriting intervention.
• Assist with the review, development and implementation of underwriting guides, risk acceptance criteria and underwriting procedures.
• Ensure adherence to underwriting authorities and referral protocols and maintain appropriate audit trails for all underwriting decisions.
• Engaging with IT and co-ordinating specifications for policy system changes and testing.
• Assist and stand in when Underwriting Manager is unavailable.
• Run, co-ordinate and follow up on monthly manual audits.
• Provide input into the risk identification processes and communicate recommendations in the appropriate forum if needed.

Client

• Provide authoritative, expertise and advice to clients and stakeholders.
• Build and maintain relationships with internal and external stakeholders.
• Participate in team meetings and forums with stakeholders to answer questions, concerns, and resolve problems.
• Deliver on service level agreements made with internal and external stakeholders to ensure that client expectations are managed.
• Make recommendations to improve client service and fair treatment of clients within area of responsibility.
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

Stakeholder Engagement Internal

• Sales
• Client Care
• Customer Care
• Compliance
• Finance
• Procurement
• Claims

External

• Brokers
• Surveyors
• Reinsurers

People

• Positively influence and participate in change initiatives.
• Develop and maintain productive and collaborative working relationships with peers and stakeholders.
• Continuously develop own expertise in terms of professional, industry and legislation knowledge.
• Contribute to continuous innovation through the development, sharing and implementation of new ideas.
• Take ownership for driving career development.

Finance

• Maintain profitable portfolios in line with company loss ratio objectives.
• Identify opportunities to enhance cost effectiveness and increase operational efficiency.
• Manage financial and other company resources under your control with due respect.
• Contribute to the financial planning process within area.

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