Underwriter – Africa Desk Jobs in Johannesburg at itoo

Hello… An exciting new opportunity has become available within iTOO.

We are looking to recruit an Underwriter – Africa Desk.

Role Objectives:

Training and development of local partners and key channel partners
Establish in-country Partnership and relationships in various African markets
Market and develop specialist risks products in the various markets – including sales strategies
Underwrite all Specialist Risks, within the set standards required by the company thus contributing to the productivity of the underwriting department as set out
Co-ordination of complex risks above mandate into iTOO Product Experts
Ensure detailed reports are executed – risk and financial reporting
Enhancing the image of the company through the continuous delivery of efficient and effective customer service
Reinsurance – Co-ordinate treaty placements and Inwards / Outwards Facultative Business
Co-ordinate claims process and service
Support with the establishment of company joint ventures

Key Responsibilities:

Underwrite specific classes of business currently offered by the company.
Adhere to individual underwriting mandates and iTOO guidelines to ensure responsible underwriting and profitability of their portfolio.
Approve risk selection within the boundaries of the specific product line. Quote, accept and renew risks within the agreed guidelines of the service level agreement and within delegated mandates.
Combination of both internal and external relationship development on specialist liability products and services to brokers in the market.
Re-underwrite renewals to ensure organic growth and maintain profitability of portfolio.
Develop and maintain effective business relationships brokers in order to attract, develop and retain profitable business – local, Multinational and Local African Brokers.
Ensure all technical aspects and administrative functions of underwriting are adhered to.
Train and mentor, the local teams and brokers on identified product lines.
To assist in placing risks that fall outside of the scope of our treaty reinsurance, into other markets locally and overseas.
Develop Fac inwards strategy and processes, including co-ordination thereof.
Develop Fac outwards / trading capability and co-ordination of multi-line risks, in multi-jurisdictions.
When required perform any other duties necessary for the operational effectiveness of the company that is within your ability and scope.

Underwriting/Risk Analysis:

Analyze qualitative and quantitative data to provide approval for risk selection and acceptance, coverage and price.
Recommend creative alternatives regarding rating plans, coverage and payment plans. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
Decline unsuitable risks (and log these on the decline register for record purposes).
Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system.

Account Management:

Meet goals for volume and value of quality new business quoted and written within company guidelines.
Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
Service, grow and maintain renewal policies and re-underwrite where required
Confirm rating and cover on endorsements requested.
Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control and sales team.

Relationship Management:

Interact on a day-to-day basis with brokers, Partners and JV Partners.
Customer service: Provide timely and professional customer service to stakeholders.
Effective communication: Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
Market Intelligence: Sound knowledge of underwriting principles in industry.
Innovation: Participate with management in initiatives around product development, processes, policy and strategy.
Continuous Process Improvement: Ensure full compliance with all processes, policies and procedures and identify areas for improvement.
Drive Business Development initiatives in the various markets
Employee Growth: Take responsibility for your own career growth and have regular discussions with relevant role players. Train-country underwriters

Specialist underwriting experience on specific lines of products offered with at least 5 years’ experience including:

Product knowledge
Industry segmentation knowledge and applicable risk exposures
Enquiring mind – seek out additional information to best understand a risk before underwriting such risk
Underwriting procedure
Rating principles
Risk Management
Market knowledge (including competitors)
Claims procedure
Reinsurance market, reinsurance and treaties
Medical Malpractice, Professional Indemnity, Financial Lines and/or Cyber product experience will be advantageous
Management experience advantageous
Experience in African markets will also be advantageous
Understanding of / ability to interpret financials a requirement
Willingness to develop new underwriting experience in respect of new products
Business management
Self-management (can organize workspace, time…)
Good communication (including writing and presentation skills)
Negotiation (internal & external)
Sales and Marketing
Ability to travel into Africa
Relationship management skills (have the right approach with the right people)
Analysis and interpretation of data pertaining to assigned risks
Well-presented / representative of JV image
Good knowledge of MS Office – Intermediate level
Career orientated
Knowledge of the Core Business Systems
Ability to work overtime and attend functions

Title: Underwriter – Africa Desk

Company: itoo

Location: Johannesburg

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