Job Description

Closing Date
2025/10/02


Reference Number
SAS250918-1


Job Title Senior Technical Underwriter


Job Type Permanent


Division Insurance Operations


Department Strategy and Underwriting


EE Occupational Levels Level 7: Middle and Senior Management


Location - Town / City Johannesburg


Location - Province Gauteng


Location - Country South Africa


Job Advert Summary
The purpose of the Senior Technical Underwriter Is to handle technical corporate and commercial underwriting and pricing at Sasria by providing specialist expertise to various stakeholders that include agent insurance, underwriting managers and insurance brokers. This role involves suggesting underwriting measures and assessing risk management efforts to mitigate losses due to protests, labour disputes and acts of terrorism. Given that the Lloyds insurance market is that global leader off insuring perils covered by Sasria, the technical underwriter will receive ongoing training and exposure by syndicates that ensure these risks at Lloyds.



Minimum Requirements

Qualifications

NQF level 7 qualification (Business Degree/Advanced Diploma or similar in insurance). Actuarial qualifications will be beneficia

Experience

8 - 10 years of experience in Short Term Insurance, with minimum 5 years in a Corporate/and or Commercial Underwriting position or risk management of a Short term Insurance Company.




Duties and Responsibilities

Rate development

Develop a rating guide - including pricing for new products, analysis of risk, scenario modelling, claims history to ensure profitability of the

portfolio.

Assess the viability of current and new products by subjecting to actuarial modelling. Analyse claims and premiums which provide input into underwriting pricing and risk management. Report trends as input to budgeting and premiums development. Conduct scenario modelling for reinsurance and capital requirements. Monitor pricing to ensure its competitiveness and viability in the market. Monitor global re-insurance trends and understand their impact on the SA market. Utilise modern underwriting software and data analytics to enhance accuracy and efficiency.

Re-insurance Strategy Effectiveness

Ensure adequate cover for a catastrophe e.g. large claims and/or accumulation of claims. Collaborate with the actuarial department and re- insurers to optimise coverage and reinsurance cost. Evaluate the coverage provided by re-insurance policies during claim events. Analyse the cost-benefit ratio of re-insurance strategies. Prepare renewals for Sasria treaty. Undertake facultative underwriting if needed. Monitor on an on-going basis the ratings of re-insurance companies. Formulate Sasria's re-insurance strategy. Meet with re-insurers and discuss their concerns regarding the profitability of this segment of Sasria portfolio.

Underwriting Function

Develop and review terms and conditions of products annually. Deal with unprofitable corporate accounts and come with innovative ways to implement underwriting measures to lower or eliminate the losses without cancelling the cover for the clients. Management of Underwriting Profit. Oversee technical issues - queries, client visits, technical support to agent insurers, underwriting managers and brokers. Product development to meet the needs of corporate and commercial clients. Establishment of technical underwriting function;

o Managing the deviations of underwriting

o Managing the Sasria's underwriting guidelines

o Managing underwriting portfolio

Training

Assume responsibility for provision of technical underwriting related training on behalf of Sasria;

o Oversee the process of education through various platforms on Sasria products to agent insurers, underwriting managers

and brokers, ensuring comprehensive understanding of Sasria's role in the market (Including national road shows).

o Sign off on training material (manuals & presentations).

o Develop exam questions to ensure comprehensive understanding of Sasria products by all stakeholders that sell and administer Sasria products.

Risk Management

Management of Operational Risks and update risk register. Implement risk management strategies to mitigate potential losses.

Strategy Development

Participate in the development of a strategy to achieve the objectives of Sasria. Execution of the Underwriting strategy. Contribute in compiling the budget. Exercise control over the departmental budget ensuring expenditure remains within the set parameters.

Perform Adhoc tasks

Perform any reasonable tasks as and when required by the Line Manager.

We are committed to Employment Equity when recruiting internally and externally. It is company policy to promote from within wherever possible. Therefore, please be aware that internal candidates will be considered first before reviewing external applicants, provided that this supports achievement of our Employment Equity goals.