Senior Property Underwriter at Santam Insurance

Job description

Position Description

To manage Santam’s Commercial Property business (which consists of Property, Engineering, Marine) to ensure achievement of C&P’s profitable growth targets

Key Responsibilities

• Research and development of new Commercial insurance covers and products in collaboration with other class of insurance specialists in Commercial UW
• Maintain existing Commercial products to ensure market competitiveness & retain relevance
• Work with Actuaries to determine appropriate rating structures for Commercial Property sections
• Analyse and sign-off broker bespoke products, meet with brokers to discuss reasons for decisions taken and negotiate differentiated terms
• Create appropriate underwriting rules to balance customers’ needs with Santam’s financial interests
• Handle all referrals of a complex nature and make underwriting decisions which requires logical balancing of profit and growth considerations (incl. pricing decisions).
• Design Property insurance covers that meet the needs of consumers of Commercial insurance and behave in the way customers expect it to behave
• Create underwriting rules for these covers and offerings and design how they must be applied and executed to facilitate the ease of doing business with Santam and which are aligned to Santam’s risk appetite
• Investigate, draft and maintain policy wordings, conditions and clauses as well as the rules surrounding these e.g. which are mandatory and which are applicable in certain circumstances etc.
• Collaborate with Actuarial to determine pricing parameters for all Property sections/offerings, rating rules and execution
• Ensure the attractiveness of the offerings we create to enable C&P to compete effectively in the market we operate in, ensuring that our covers and pricing are market-related and achieve our required rate of return
• Drive and manage the consistent achievement of C&P’s overall Commercial profitable growth targets (which may at times require compromise on one class of business to balance broader profitability) Make underwriting decisions that balances logic with relationships (particularly on risk reduction requirements)
• Draft Underwriting Guidelines and Manuals
• Draft Policies and Procedures for Property classes of business which the C&P business must be able to apply and adhere to
• Draft Underwriting circulars and Broker communications

Minimum Requirements

• Grade 12
• FAIS compliant: 120 credits (Commercial insurance)
• ACII / AIISA (FIISA would be beneficial)
• 15+ Years’ experience in short term Commercial insurance as a commercial technical underwriter dealing in all of the above topics at detailed and complex levels
• Must qualify for Santam’s Underwriting Level 1
• Excellent English communication & report-writing skills (understanding of Afrikaans advantageous)
• Strong relationship, negotiating and networking skills
• Ability to influence
• Ability to work under pressure with appropriate prioritisation skills
• Results-orientated and deadline driven
• Good analytical skills and problem-solving abilities
• Specialist Property Technical Underwriting expertise
• Thorough knowledge of Santam’s Commercial products
• Computer literate (MS Word, Excel & PowerPoint)
• Knowledge of (and understanding of the impact of) the relevant legislation on the Property business

Competencies

• Coaching and development
• Adapting and responding to change
• Deciding and initiating action
• Performing under pressure
• Planning and organising
• Problem-solving
• Knowledge-seeking
• Negotiating and getting agreement
• Excellent oral and written communication