Commercial Underwriting Team Manager at MiWay Insurance Limited

What will you do?

A new position has opened in the BI Operations and Support team for a commercial underwriting manager to fulfil the below duties:

• Staff Supervision: Lead and manage the support and underwriting team, providing guidance, training, and support.
• Training & Development: Ensure that team members are well-trained in underwriting processes, company policies, and any industry-specific regulations.
• Resource Allocation: Assess workloads and delegate tasks to ensure the efficient functioning of the team. Adjust staffing levels or responsibilities when necessary to meet operational needs.
• Team Motivation & Morale: Foster a positive and productive work environment by motivating the team, addressing concerns, and implementing team-building activities or incentives.
• Risk Assessment: Oversee the underwriting process for insurance policies, or other products, ensuring that the team's evaluations of risks are accurate and aligned with company guidelines.
• Policy and Procedure Compliance: Ensure that all underwriting decisions made by the team are in compliance with company policies, industry standards, and regulatory requirements (such as fair lending practices or insurance regulations).
• Quality Control: Monitor the quality of underwriting decisions and documentation, performing regular audits and reviews of underwriting files to ensure accuracy and completeness.

Minimum Qualification Required

• Matric/Grade 12/NQF 4
• RE
• FAIS Credits
• Continuous Professional Development (CPD) training must be up-to-date

Minimum Experience

• Minimum of 3 years commercial insurance underwriting experience
• Expert knowledge of MiWay Business Insurance systems, both MIA and TIA.
• Thorough understanding of commercial insurance products 
• Any client servicing related experience will be advantageous

Competencies Required

• Excellent verbal and written communication skills
• Strong Leadership capabilities 
• Strong analytical ability
• Attention to detail and able to work under pressure
• FAIS Regulatory Examination for Representatives (RE5)

Deliverables include, but will not be limited to

• Building and maintaining strong relationships with the Insurance Specialist teams
• Grow a team of efficient and proficient support agents
• Assist to underwrite commercial policies to determine if risk profile is acceptable and to structure cover options accordingly 
• Liaising with internal departments such as claims and Actuaries
• Support Insurance Specialists to reach sales targets while maintaining acceptable loss ratios