The main purpose of the underwriting department is to evaluate the risk of insuring a particular person/asset. An underwriter is responsible for evaluating a risk and setting out the appropriate underwriting terms pertinent to that risk. Furthermore, an underwriter is also required to collaborate with surveyors, and underwrite risks in accordance with the prescribed underwriting guidelines and policy wording.
What You’ll Need
At Bidvest Insurance, we’re all part of a ‘BE’VOLUTION where we live our values each and every day for the benefit of our colleagues, customers, partners, stakeholders and our environment.
Experience and Education
- Matric or Equivalent
- Commercial Insurance qualification at NQF level 4/5 (150 credits)
- Relevant Diploma / Degree will be an added advantage
- Regulatory Exams
- 3-5 years’ commercial underwriting and reinsurance experience
- Proficient n MS word and Excel
- Knowledge of Insurance management system
- Project/Product Development and Management
- Staff Development
- Short Term Insurance Compliance (An elementary understanding thereof)
- Market Conduct
- Market Evaluation/Trends
- Business Development, such as creating and implementing business modules, provide guidance
Key Responsibilities and Duties
- Provide a qualitative commercial underwriting service in accordance with Bidvest standards, policies and procedures ensuring that qualitative underwriting occurs at new business inception, renewal and amendment stages
- Manage own mail count / diary system / Risk surveys / Reinsurance / Dashboard
- Assist claims staff in understanding policy wordings/claims queries.
- Be able to work independently and handle the entire policy process end to end
- Process corrective action for multi-claimant and undesirable risks types through notice of cancellation
- Ensure timeous capture of all information to assist broker’s service delivery ito FAIS and also Bidvest own timelines
re age analysis / month end cut-off / credit control / binder fee etc
- Refer all application received that involve reinsurance and refer any facultative requirements to management.
Align own behaviour with the organisation culture and values
- Collaborate and work with the Underwriting, claims and finance teams to deliver required service levels
- Actively participate in the Underwriting team to ensure functional balanced scorecard objectives are achieved
- Ensure achievement of own performance objectives and attention to detail
Preference will be given to PDI candidates in line with our EE strategy.
Interested candidates to please submit their CV to: email@example.com
Bidvest Insurance is an authorised Financial Services Provider