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20 Nov
2024
Permanent Casualty Underwriter – Sanlam Vacancies
Job Description
Sanlam Vacancies – Casualty Underwriter
Position Overview:
Santam Broker Solutions (SBS) is seeking an experienced Senior Casualty Underwriter to join our Commercial Underwriting team. This position will play a key role in providing expert underwriting knowledge for the Casualty portfolio, which includes Liability, Accident, Cyber, and Fidelity insurance. You will be part of the Commercial Underwriting department, working alongside the Motor and Property Portfolios to drive growth and profitability.
What You Will Do:
As a Senior Casualty Underwriter, your primary responsibilities will include:
- Underwriting Excellence: Ensure that Casualty and Property growth and profitability targets are met by making informed and strategic underwriting decisions.
- Claims and Market Insights: Stay updated on claims trends and global market developments, adjusting underwriting guidelines and product offerings as needed.
- Product Development: Develop and enhance underwriting guidelines, ratings, and new products/covers for the Casualty portfolio.
- Complex Case Management: Provide expert underwriting input for complex covers and collaborate with Broker Services on specialized cases.
- Market Competitiveness: Continuously review and adapt existing Commercial products to ensure market competitiveness and relevance.
- Underwriting Processes: Design and implement underwriting rules and processes that balance customer needs with Santam’s financial objectives.
- Wording Adjustments: Modify insurance wordings and clauses to include or exclude cover, considering the impact on the broader Commercial portfolio.
- Expert Advice: Provide guidance to the Specialist Liability Claims Unit on wording interpretations for liability claims, and to the Complex Claims Unit for Fidelity claims.
- Stakeholder Communication: Write internal circulars and Broker communications to inform stakeholders of new covers or complex insurance concepts.
- Training & Development: Contribute to training materials and offer training sessions to internal teams and brokers.
- Referral Management: Handle complex referrals, making balanced underwriting decisions that account for both profitability and growth while considering the broader impact on the portfolio.
- Bespoke Product Analysis: Review and approve bespoke broker products, discussing decisions with brokers to ensure transparency and understanding.
Qualifications & Experience:
- Education: Bachelor of Commerce Degree/AIISA or comparable short-term insurance qualification (with a preference for legal framework training, such as Law as a major). If holding a B.Comm only, you should have completed or be in progress with insurance-specific qualifications via IISA or Milpark.
- FAIS Compliance: Minimum of 120 credits in commercial insurance.
- Technical Expertise: Minimum 10 years of insurance experience, with at least 5 years in a technical commercial underwriting department, specifically in Commercial Liability underwriting.
- Additional Knowledge: Knowledge of Professional Indemnity and Directors and Officers insurance is an advantage.
- Skills:
- Advanced technical underwriting skills in Liability, Fidelity, and Group Personal Accident (GPA) covers.
- Strong analytical and numeracy skills, with the ability to interpret complex legal and insurance terms into clear, accessible language.
- Proficiency in MS Office (Word, Excel, PowerPoint, Outlook) and Santam’s Underwriting and Policy Administration Systems (WEBe, Mainframe, Guidewire).
- Bilingual proficiency in English and Afrikaans, both written and verbal.
- Strong communication, negotiation, and networking skills, with the ability to collaborate effectively and manage client relationships.
- Ability to handle conflicting demands, prioritize tasks, and perform under pressure.
- Knowledge of South African legal terms, legislation, and short-term insurance principles.
- A thorough understanding of premium calculation factors for Liability, Fidelity, and GPA covers, including risk exposure assessment.
Key Competencies:
- Client-Centric Focus: Build strong relationships and deliver tailored solutions that meet client needs.
- Results-Driven: Consistently pursue and achieve targets, even in challenging circumstances.
- Flexibility & Adaptability: Ability to rebound from setbacks and adapt to changing demands.
- Innovation: Create new and better ways to achieve organizational success.
- Leadership & Influence: Lead by example, with the ability to inspire and guide others toward shared goals.
- Problem Solving: Address complex issues with innovative and effective solutions.
- Attention to Detail: Ensure accuracy in underwriting decisions and policy management.
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