Corporate Underwriter

Division  : Underwriting

Reports to: Team Leader – Underwriting

Position Name:  Underwriter

Purpose:

Provide quality underwriting outcomes for the Underwriting function through effectively maintaining underwriting standards and providing quality client and broker service

Relationships /Stakeholders

  • Clients
  • 3rd Party insurers
  • Brokers
  • Business Development
  • Finance
  • Greater Underwriting

Level of work: Level 2L

3 to 6 months time frame

  • Various closely related concrete variables, requiring an understanding of the theory or practices underpinning inter-related functional processes.
  • Time-span of work, related to the achievement of a work output, is seen within 3-6 months.
  • Accountable for quality, standards, service and desired outputs within inter-related functional areas of responsibility. May be responsible for work of others.
  • Proactive identification of functional problems related to a specific process or policy, determine cause and impact, and choose the best alternative to solve the problem based on guidelines provided and an understanding of the theory or practices underpinning the problem
  • Gather relevant information related to particular functional activities, collate and process in a practical step-wise manner into written reports for review or feedback of work.
  • The role may require some judgement, although governed by clear processes, policies and procedures, which may have an impact across more than one department
  • Maintain control over the short term operations of a team through decisions based on specified operational policies and procedures, work outputs and service delivery
  • Schedule and allocate resources within in own area of responsibility in line with specified constraints or parameters.
  • Ensure adherence to organisational policies and procedures to ensure cost effectiveness and reduce wastage related to time of subordinates, materials or equipment.
  • Implement changes in work processes, procedures or schedules of own work and those of others based on guidelines provided by a higher authority.
  • Planning and organising a work output through sequencing according to given criteria in light of a specific context or situation

Effectively maintaining underwriting standards and providing quality client  and broker service

Underwriting policies, procedures and standards implemented

Activities:

  • Underwrite in accordance with standards, policies and procedures.
  • Support BDC’s in acquiring and retaining profitable business.
  • Attend to administration and written communication).
  • Ensure that all documentation is processed accurately & correctly
  • Ensure documentation, including SASRIA is issued, checked and authorised prior to despatch
  • Ensure queries are resolved as per company standards
  • Ensure renewal reviews are completed timeously
  • Ensure retentions are calculated
  • Ensure timeous and accurate management of mail count
  • Request, monitor survey and survey requirements as per laid down procedures
  • Correct unprofitable policies.
  • Ensure policies are not overexposed. 

Measures

  • Adherence to policy
  • Administration accuracy
  • Renewals on time

Service delivery to ensure customer satisfaction

Manage effective customer service and relations to deliver customer service satisfaction

  • Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards.
  • Resolve escalated customer queries and complaints and provide feedback to customers on matters resolved.
  • Develop work routines in line with operational plans / schedules in order to manage achievement of service delivery goals
  • Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery.

Measures

Customer feedback

Maintain effective people practices

Maintain people practices in line with organisational guidelines, policies, culture and values

  • Align own behaviour with the organisation culture and values.
  • Share and transfer product, process and systems knowledge to colleagues.
  • Collaborate and work with the Underwriting team to ensure required service levels are delivered.
  • Actively participate in the Underwriting team to ensure functional balanced scorecard objectives are achieved.
  • Ensure achievement of own performance objectives.
  • Actively share information with other team members regarding successes, issues, trends and ideas.
  • Actively participate in own professional development and career path.
  • Track and resolve operational and performance variations
  • Develop and encourage strong team work
  • Identify potential inter-departmental problems and escalate them to higher levels
  • Engage regularly in team or group problem-solving
  • Manage areas of critical compliance and actively manage non-conformance
  • Actively manage non-performance
  • Ensure the work environment enables employees to “live” the organisation culture and values.

Growth and development of self

  • Ensure effective cost control and governance compliance
  • Ensure adherence to financial and corporate policies and procedures to ensure cost effectiveness and reduce wastage
  • Comply with governance controls to reduce risks.
  • Ensure adherence to financial and corporate policies and procedures, and reduce wastage related to area of accountability.
  • Take accountability for the management of business related risks within own area.
  • Operate within agreed mandates as documented in the business rules.
  • Budget timeframes adhered to
  • Accuracy
  • Targets
  • Risks mitigated and costs minimised within area.
  • Compliance to mandates

Continuous improvement to ensure effective service

Implement continuous improvement in work processes, procedures and schedules

  • Ensure adherence to organisational policies, practices and procedures.
  • Identify and recommend areas / ways to improve processes.
  • Optimised business process and operating procedures.
  • Efficiency measures.

Competency

  • Organization and Attention to Detail
  • The extent to which one systematically employs a standard system of organization in work process and related resources and an overall concern for integrating all aspects of the task, situation and/or work-related problem
  • Is attentive In Basic, Routine,
  • Repetitious Tasks
  • Keeps a provided task/project checklist readily accessible.
  • Seeks clarification when necessary
  • Uses one’s time and resources productively to complete assigned tasks
  • Results Orientation
  • Consistently delivers required business results; sets and achieves achievable, yet aggressive, goals; consistently complies with quality standards and meets deadlines; maintains focus on organizational goals
  • The ability to meet minimum
  • work expectations
  • Sets goals and works to meet established expectations; maintains performance levels.
  • Pursues organizational objectives with energy and persistence. Sets high personal standards for performance.
  • Adapts working methods in order to achieve objectives.
  • Accepts ownership of and responsibility for own work.

Decision making and problem solving

  • The extent to which an individual is able to recognize and analyze a problem and/or a difficult situation and develop an appropriate and results-oriented course of action.
  • The ability to apply Basic Rules
  • In Decision-Making
  • Able to evaluate exceptions based on clearly specified rules.
  • Considers the components of a problem or issue as they pertain to one’s own work and/or area of responsibility.
  • Refers issues/problems that are outside of one’s scope of decision-making

Teamwork and Cooperation

  • Cooperates with others to accomplish common goals; works with employees within and across his/her department to achieve shared goals; values the contributions of others
  • The ability to participate as a team member
  • Assumes personal responsibility and follows up to meet commitments to others.
  • Understands the goals of the team and each team member’s role within it.
  • Deals honestly and fairly with others, showing consideration and respect.
  • Willingly gives support to co-workers and works collaboratively rather than competitively.
  • Shares experiences, knowledge and best practices with team members.

Customer orientation

  • Making customers and their needs a primary focus of one’s actions; developing and sustaining productive customer relationships
  • The ability to interact with customers in an effective and efficient manner
  • Shows sufficient courtesy and sensitivity to customers
  • Responds quickly when servicing customers
  • Uses customer feedback to improve service

Persuading and Influencing

  • The capacity to persuade, convince, influence others for the purpose of achieving desired results
  • Apply basic persuasion and negotiation techniques
  • Uses concrete examples, data, visual aids to demonstrate and/or make a point
  • Provides credible information to establish rapport
  • Takes a single action to persuade using a single resource (e.g. examples, data, visual aids) to substantiate one’s argument and/or position

Experience

  • 3-5 years’ experience in field of underwriting.

Career Path

  • Potential Position 1: Team Leader: Underwriting
  • Potential Position 2: Manager: Underwriting
  • Potential Position 3 : Manager: Sales & Underwriting


Company