Job Description

The role holder will be responsible to analyse and underwrite new and existing policies effectively, within delegated authority limits to achieve agreed levels of underwriting performance by providing technical underwriting support and assistance. To provide high quality service and solutions to brokers and customers to ensure business retention and growth and to provide effective qualitative underwriting and to demonstrate specialised product knowledge and manage & mentor Junior Underwriting staff.

Key Tasks & Accountabilities

Achieve Target Underwriting Profit

• Capture AP/TP ratios
• Underwriting quality verification.
• Underwriting Profitability analysis.
• Adherence to agreed technical standards, controls, and procedures.
• Adherence to market facing underwriting strategy, procedures, policies, and controls.
• Underwriting medium- high complexity risks.
• Measuring exposure and analysing risk.
• Determine technical price according to agreed/certified pricing process.
• Managing underwriting profitability of accounts.
• Implement underwriting measures to attain targeted loss ratios and rates.
• Embrace technology to improve portfolio performance.
• Ensure that treaty re-insurance standards are adhered to at all times.
• Ensure compliance with technical and operational underwriting standards, procedures and controls.
• Application of the Bryte Way (TBW) of underwriting.
• Deploy & utilise risk engineers appropriately.
• Management reports analysed.

Growth and Retention of Business * Hit ratios (L&C)

• Growth ratios
• Establish lasting partnerships with key stakeholders.
• Support growth of existing books and new books through underwriting actions
• Retain business through underwriting actions.
• Formal and informal Feedback
• Management reports

Contribute to Proposition Development * Focussed underwriting of risks within delegated authority to achieve effective implementation of business plan.

• Align with sales target to ensure the GWP, loss ratio and profitability targets are met.
• Align with Bryte guiding principles and way of doing business

Provide qualitative service levels to internal and external stakeholders

• Delivery to SLAxe2x80x99s and service standards agreed.
• Delivery of reports and information required.
• Effective communication and collaboration with other business units
• Consistently utilise processes, procedures and approach based on the TBW process framework.
• Ensure service levels meet SLAs with brokers and other business unit.
• Ensure effective communication with brokers and clients.
• Manage complaints effectively and timeously.
• Build relationships through provision of good and consistent service.
• Formal and informal feedback

Governance

• Adherence to the governance framework & best practice
• Ensure governance and best practice is adhered to & communicated to all stakeholders: Audit & TUR reports, Workflow reports and Management reports

Broker Management * Deliver and enhance the highest level of client satisfaction by working with brokers to map and determine their business needs in delivering superior client service.

• Strategically analyse the brokerxe2x80x99s business plan and develop future business opportunities.
• Maintain relationships with the brokers and providing technical and underwriting support as required.

Teamwork

• Maintain relationships with internal departments to ensure delivery of the highest level of client service for our clients and brokers.
• Act in line with SLA and instructions from all superiors and always ensure professionalism in dealings with internal and external stakeholders.
• Develop technical skills on a continuous basis.
• Feedback from team & colleagues
• Market feedback

Relationship

Internal

• Junior Underwriting Technicians -Assist and lead junior staff
• Underwriting Manager / Portfolio Manager
• Regional Manager
• Finance
• Sales & Marketing
• Claims

External * External clients

• Brokers
• Tied Agents
• Administrators
• UMA
• SAIA

Qualifications & Experience * Higher Certificate in Insurance / Insurance qualification

• 10 Years technical experience in underwriting, preferably in commercial and specialised underwriting
• FAIS compliant, 120 credits.
• Must have RE
• Sound knowledge and understanding of South African Insurance/re-insurance market.
• Sound knowledge of how to optimise underwriting performance at a policy and portfolio level.
• Expert technical knowledge and understanding of underwriting principles.
• Commercial and Specialised knowledge.

Technical Competencies

• Applying analytical thinking to identify and resolve problems by critically evaluating information, applying personal judgment and experience, consulting relevant parties, considering organisational resources, and reflecting on the bottom line.
• Improving the overall customer experience by understanding their needs, managing their expectations, sharing knowledge and information, and delivering services both promptly and efficiently.
• Assuming the responsibility for consistently delivering end-results against expected time, quality, accuracy, and performance standards.
• Establishing, sustaining, and fostering professional teams, alliances and networks that inspire trust, facilitate collaboration, and offer support.
• Conveying and disseminating information in a verbal or written format that is clear, concise, convincing, and tailored to the needs of target audiences.

Technical Competencies

• Apply knowledge and understanding of the core principles of insurance and how this is applied on a day-to-day basis.
• Apply knowledge and understanding of the range of insurance products and services available in the market and how that knowledge can be used to meet client needs. The term xe2x80x98servicesxe2x80x99 refers to non-insurance benefits, such as helplines, authorised repairs and suppliers, uninsured loss recovery and risk control advice. These are often, but not always, provided as an add-on to specific types of policies.
• Apply knowledge and understanding of the organisationxe2x80x99s underwriting processes and procedures which is needed for new risks, alterations, renewals and / or cancellations to be processed in an accurate and timely manner.
• Manage the factors that affect the performance of an underwriting portfolio and how risk exposure can be monitored and controlled.
• Show knowledge and understanding of the different laws and the potential impact thereof on insurance process and service, including the law of torts, contract law, the law of agency and statute law.

Closing date: 9 October 2023

Bryte Insurance