Technical Underwriting Specialist

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

Engage with brokers, end-customers and liaise with distribution in Retail to provide technical underwriting expertise with a clear focus on growth, profitability, efficiency and customer satisfaction

• Build effective relationships with brokers to ensure profitable growth.

• Quotes, prices and underwrites new and renewal policies and endorsements, primarily for large and complex risks.

• Engagement with brokers to negotiate terms and conditions – liaising with distribution in Retail, but own the decision.

• Visit brokers (as required with distribution in Retail) to enable and encourage conversion of large and complex quotes.

• Visit brokers (as required with distribution in Retail) to assist with renewal discussions on large and complex quotes.

• Works with the team to provide solutions for brokers and end-customers to increase portfolio profitability and growth by understanding the customer needs.

• Discuss and explain complex Risk Reduction Requirements (RRR) from survey reports and negotiate with brokers to obtain buy-in.

• Limited engagement with end-customers but there will be instances when a meeting with the broker and end-customer is required to negotiate terms and conditions.

• Engagement with end-customers may include site visits with surveyors to get a better understanding of the exposure.

• Performs analysis of complex accounts by combining research outcomes, past experience, intuition and commercial / business acumen to fully understand the risk to enable strategic portfolio decisions to be made.

• Complete reinsurance calculations, monitor and track accurate and timeous placement of reinsurance.

• Provide technical underwriting expertise to address technical enquiries.

• Drive profit and premium growth for the region by executing the organisational business plans.

• Analyses quality and quantity of risks underwritten and prepare reports that review broker / intermediate books and profit / growth trends with recommended action plans.

• Monitors market conditions, competitive landscape and researches risk, environment and factors necessary to grow new business of identified accounts.

• Ensures the portfolio achieve production, profitability and service objectives.

• Analyses portfolio underwriting performance, identifying problems within the portfolio and proposed action plans to address / rectify portfolio performance.

• Monitors risk selection and pricing decisions for portfolio/s both on a book of business and at an individual account level.

• Analyses multi-claimants, identifying problems within the portfolio and proposed action plans to address / rectify multi-claimant performance.

• Proactively identifies opportunities through detailed performance plans with actions, accountabilities and scheduled performance checkpoints to maximize profit and pipeline management of the portfolio/s.

• Resolves above mandate referrals by combining research outcomes, past experience, intuition and commercial / business acumen to fully understand the risk and the impact of the referral.

• Deliver prioritised product pipeline and propose amendments to pricing models.

• Monitor and track compliance to underwriting guidelines and make recommendations to senior management to mitigate any risks identified.

• Continuous improvement to ensure effective service

• Ensure statutory and legislative knowledge is always current in order to resolve customer complaints, to advise the business on corrective solutions to mitigate risks and to improve the customer experience whilst complying with governance requirements.

• Ensure adherence to organisational policies, practices, guides, mandates and procedures.

• Identify solutions to enhance cost effectiveness and increase operational efficiency.

• Service delivery to ensure customer satisfaction

• Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards.

• Establish productive operational relationships with key stakeholders in the various channels and administrative teams.

• Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery.

• Effective controls to manage risk

• Implement controls identified in the standard processes to ensure operational risks are managed.

• Identify operational risks that exposes the business, and make recommendations to senior management to mitigate any risks.

• Ensure risk events are raised for any breaches or control failures.

• Cost control and governance adherence

• Proactively ensure use of time, resources, money, materials or equipment is in line with policies and procedures.

• Comply with corporate governance policies, procedures and standards.

• Operate within agreed mandates.

• Quality people practices

• Align own behaviour with the organisation culture and values.

• Coach and mentor underwriter(s).

• Share and transfer product, process and systems knowledge to colleagues.

• Ensure achievement of own performance objectives.

• Actively share information with other team members regarding successes, issues, trends and ideas.

• Actively participate in own professional development and career path.

• Actively promote a culture of learning and high performance culture amongst team members (including Servicing & Sales and Distribution).

• Experience Knowledge & Skills Required

• 5 – 8 years’ experience in commercial or Agri underwriting.

• Experience in Reinsurance placements.

• Bachelor degree and/or equivalent NQF Level 5 qualification (Licentiate or higher) in general insurance is advantageous.

• Knowledge of Assets All Risk wordings advantageous.

Skills

Competencies

Education

Closing Date

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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