Senior Underwriter

Hello… An exciting new opportunity has become available within iTOO.

We are looking to recruit a Senior Underwriter for our Crisis Team .

Role Objectives

• Underwrite all transactions assigned, within the set standards required by the company thus contributing to the productivity of the underwriting department as set out within parameters delegated to you and team from time to time.
• Portfolio management.
• Assist with team referrals and Portfolio of Evidence (POE).
• Create an environment of trust, open communication, creative thinking and drive high performance.
• Contribute to the growth and profitability of iTOO.
• Ensure all technical and administration aspects within the department is adhered to.
• Enhance the image of the company through the continuous delivery of efficient and effective customer service.
• Ensure strong working relationships between all stakeholders.

Key Responsibilities

• Underwrite specific assigned classes of business currently offered by iTOO.
• Adhere to individual and team’s underwriting mandates and iTOO guidelines to ensure responsible underwriting and profitability of their portfolio.
• Approve risk selection within the boundaries of the specific product line. Quote, accept and renew risks within the agreed guidelines of the service level agreement and within delegated mandates.
• Combination of both internal and external relationship development on all products and services to brokers and cedants in Africa, that iTOO already has a relationship with, resulting in renewals or sales.
• Action all requests from credit control team.
• Re-underwrite renewals to ensure organic growth and maintain profitability of portfolio.
• Develop and maintain effective business relationships with brokers and African insurers to attract, develop and retain profitable business.
• Regular Broker visits to market your product and train brokers.
• Ensure all technical aspects and administrative functions of underwriting are adhered to.
• Train and mentor, the team (as it grows) and brokers on all product lines.
• To assist in placing risks that falls outside of the scope of our reinsurance programmes, into the correct and approved markets.
• Ensure that all guidelines and processes are followed when executing placements.
• Ensure that reinsurance and/or insurance sign-off is adhered to for each risk to confirm counter-party credit risk and no exposure for ITOO.
• Do presentations when required including iTOO’sday sessions.
• Ensure that customers are treated fairly.
• Complete Monthly Bordereau’s and RI payment submissions for Hollard RI Department to ensure timeous payment to STS Re London.

Team Management Assistance

• Employee growth: Assist with identifying training gaps and ensure in conjunction with stakeholders’ plans are put in place to remedy same. Assist management with POE’s and FAIS compliance. Conduct regular team technical training sessions.
• Coaching and support: Providing informal and formal mentoring and coaching support to team when required.
• Problem solving: Assisting staff in resolving complex problems while ensuring adherence to standards & objectives.

Underwriting/Risk Analysis

• Analyze qualitative and quantitative data prepared by and brokers to provide approval for risk selection and acceptance, coverage and price.
• Recommend creative alternatives in regard to rating plans, coverage and payment plans. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
• Decline unsuitable risks (and log these on the iTOO decline register for record purposes).
• Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system.
• Ensure documented proof of own and teams’, where assisting, risk assessment and documented proof of referrals outside of mandate and documented proof of assessment. Inside and outside of mandate to have documented proof of how got to final decision on the risk. Understanding of the Reinsurance Treaty. Understand the implications of the account towards reinsurance and assist team to understand. What is for Net and what is for treaty. Understanding of Facultative reinsurance. Accepting of incoming refferals from juniors and referrals up the line. Assist team Product Champion to implement strategy and pricing and product review and enhancement.

Account Management

• Meet goals for volume and value of quality new business quoted and written within company guidelines.
• Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
• Service, grow and maintain renewal policies and re-underwrite where required.
• Confirm rating and cover on endorsements requested.
• Review segment profit/growth results and trends to recommend and implement action plans to produce profitable underwriting results.
• Ensure that all premiums are received and up to date on all accounts in portfolio. In collaboration with credit control and sales team.

Relationship Management

• Interact on a day-to-day basis with brokers.
• Customer service: Provide timely and professional customer service to stakeholders.
• Effective communication: Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
• Market Intelligence: Sound knowledge of underwriting principles in industry.
• Innovation: Participate with management in initiatives around product development, processes, policy and strategy.
• Continuous Process Improvement: Ensure full compliance with all processes, policies and procedures and identify areas for improvement.
• Employee Growth: Take responsibility for your own career growth and have regular discussions with relevant role players. Train junior underwriters and underwriting assistants on product lines to assist in their career growth.