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Closing Date
2025/01/31
Reference Number
SAS250117-1
Job Title
Technical Underwriter
Job Type
Permanent
Division
Insurance Operations
Department
Strategy and Underwriting
EE Occupational Levels
Level 4 & 5: Skilled, Technical and Academically Qualified
Location – Town / City
Sandton
Location – Province
Gauteng
Location – Country
South Africa
Job Advert Summary
The Technical Underwriter will perform technical underwriting tasks and participate in the implementation of underwriting terms and conditions for policy holders and implementation of rules and regulations for our distribution channel.
Minimum Requirements
Minimum Qualifications:
Higher Certificate in Short-term Insurance
RE 5
Advantageous Tertiary qualification (Bcom degree or similar)
Minimum Experience:
5 – 7 years’ experience in Short term Insurance – Technical underwriting (commercial and or corporate). Portfolio management advantageous
Please note that preference will be given to people with disabilities.
Duties and Responsibilities
1. Strategic Alignment
Contribute towards the development of the company’s strategic plans.
Contribute in the development and drive of the divisional strategy.
Participate in Updating of policy wordings and regulations.
Conduct market analysis in order to analyse industry needs and contribute towards the enhancement of existing products.
Implement departmental policies and procedures
2. Rate development
Partner with Actuarial function on pricing for new products, analysis of risk, to ensure that products are priced correctly.
Analyse claims and premiums trends which provide input into underwriting pricing and risk.
3. Underwriting function
Review terms and conditions of products annually to ensure they remain relevant and up to date.
Conducting GAP analyses of our rules and regulations to ensure they remain relevant and up to date.
Handle queries and provide technical assistance to our brokers and Agents through visits.
Review rates annually, ensuring competitiveness and viability of the product.
Conduct research on possible new products and enhancement to existing products.
Continuously review product information on our website to ensure remains up to date and relevant.
Monitor and report on the loss ratio movement per class of business.
Monitor and apply corrective measures on multi claimants.
Participate in monthly operations reporting on financial and operations.
4. Training function
Provide education through various platforms on Sasria products to clients/agents, ensuring basic understanding of Sasria’s role in the market.
Review and compiling of training material (manuals & presentations).
Conduct national road shows on Sasria products.
Continuously review product information to ensure its relevance.
Dissemination of product information to the market.
5. Risk Management
Identifying Risks and Emerging Risks.
Establish required controls to mitigate operational risks.
6. Financial
Contribute in compiling budgetary requirements.
Control the departmental budget ensuring expenditure remains within the set parameters.
Perform any reasonable tasks as and when required by the Line Manager.
7. Perform ad hoc tasks
Perform any reasonable tasks as and when required by the Line Manager.