Overview
Underwriter – Professional Indemnity Jobs in Johannesburg, South Africa at iTOO Special Risks (Pty) Ltd
We are looking for an Underwriter for our Professional Indemnity Team at iTOO.
Role Objectives
- Underwrite and process all transactions assigned within the set standards required by the company, contributing to the productivity of the underwriting department and ensuring efficient and effective customer service. Ensure strong working relationships between all stakeholders.
Underwriting Administration
- Adhere to individual and team’s underwriting mandates and iTOO guidelines to ensure responsible underwriting and profitability of the 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 delegated mandates.
- Combine internal and external relationship development on all liability products and services to brokers that iTOO already has a relationship with, resulting in renewals or sales.
- Action all requests from credit control team.
- Re‑underwrite renewals to ensure organic growth and maintain profitability of portfolio.
- Develop and maintain effective business relationships with brokers to attract, develop and retain profitable business.
- Ensure all technical aspects and administrative functions of underwriting are adhered to.
- Train and mentor the team and brokers on all product lines.
- Assist in placing risks that fall outside of the scope of our treaty reinsurance into other markets locally and overseas.
- Do presentations when required.
- Sound understanding of TCF principles.
Underwriting/Risk Analysis
- Analyze qualitative and quantitative data prepared by brokers to provide approval for risk selection, coverage and price.
- Recommend creative alternatives regarding rating plans, coverage and payment plans; recommend or implement changes to improve productivity, profitability, growth and quality of assigned book of business.
- Decline unsuitable risks and log these on the iTOO 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.
- Ensure documented proof of own and team’s risk assessment and referrals; understand implications of reinsurance treaties, net vs treaty, and facultative reinsurance; accept incoming referrals and assist team in understanding.
- Assist team’s Product Champion to implement strategy, pricing and product review and enhancement.
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 quality of assigned book of business.
- Confirm ratings and cover on endorsements requested.
- Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
Team Management Assistance
- Assist with identifying training gaps and ensuring in conjunction with stakeholders’ plans are put in place to remedy them. Assist management with POE’s and FAIS compliance. Conduct regular team technical training sessions.
- Provide informal and formal mentoring and coaching support to the team when required.
- Assist staff in resolving complex problems while ensuring adherence to standards & objectives.
Relationship Management
- Interact on a day‑to‑day basis with brokers.
- Provide timely and professional customer service to stakeholders.
- Communicate as needed with stakeholders to obtain information needed to complete screening and transactions.
- Maintain market intelligence and sound knowledge of underwriting principles in industry.
- Participate with management in initiatives around product development, processes, policy and strategy.
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Title: Underwriter – Professional Indemnity
Company: iTOO Special Risks (Pty) Ltd
Location: Johannesburg, South Africa
Category: