Overview
Job ID:
Job Sector:
Insurance
Country:
South Africa
Region/State/Province/District:
Gauteng
Location:
Constantia Kloof
Job Details
Banking Insurance
Job Purpose
Responsible for the underwriting of the WealthInsure portfolio with the express intention to acquire sustained worthwhile growth. Underwriting consists of deciding and altering underwriting rules, pricing and cowl furnished in conjunction with the WealthInsure Underwriting Manager and Head of WealthInsure. The character will plan sensible guidelines for referral underwriting selections and be educated and skilled to supply innovative and modern options in admire of WealthInsure. He/she will additionally be worried with figuring out underwriting developments and file trouble areas to senior administration and the actuarial teams.
The incumbent will help the WealthInsure Team with.
-Capturing, quoting, issuing, servicing and retention of policies
-Assist with consumer shows when required to do so
-Development of underwriting guidelines and referrals
-Implementation of corrective underwriting actions
-Technical underwriting advice
-Stand-in for Insurance Managers when required to do so (24/7/365)
-Assist with growing coverage wording, underwriting rules
-Financials
Key Responsibilities/Accountabilities
Support the protection and improvement of the WealthInsure offering
Ensure insurance policies are efficiently issued on the MAVEN machine and coverage archives are in my view emailed to customer.
Consistently screen WealthInsure insurance policies / profiles in admire of renewals, rewards presenting due dates (such as money back), etc. – and proactively make sure that these are effectively managed and actioned.
Daily, weekly and month-to-month reconciliation of income / insurance policies generated / etc.
Provide aid in creating the WealthInsure offering.
Assist Insurance Managers, endorsements and standard coverage administration.
Handle renewal referrals and underwriting.
Proactive involvement in underwriting functions.
Efficiency and effectiveness of the underwriting selections and the associated / relevant processes.
Ensuring all associated methods are environment friendly / effective.
Innovation – which includes the enhancement of methods to be extra patron friendly, etc.
Building stakeholder relationships – each inside and exterior stakeholders
Financial Performance of relevant products
Daily, weekly and month-to-month repute reports
Multi-claimants: Assist with the improvement and enhancement of the multi-claimant approach / process.
Assist with the verification of endorsements. Ensure that all endorsements are followed-up to make certain that they have been utilized accordingly.
Underwriting endorsement functions: Manage No Claim Bonus reductions. Ensure that the No Claim Bonus on claimed objects are adjusted. Ensure whole loss objects are eliminated from cover.
Assist with common sales, servicing and claims queries.
Oversee underwriting to make certain adherence to all business, crew and satisfactory exercise guidelines
Provide underwriting hints for private traces portfolio for WealthInsure.
Develop and evaluate coverage wordings and align with underlying policies
Underwriting of new and present dangers to preserve worthwhile growth
Analysing loss ratio outcomes and endorse moves to right profitability
Monitor underwriting profitability of customer segments.
Investigate and increase revolutionary underwriting options that meet enterprise wishes Draft and overview underwriting suggestions and underwriting limits.
Achieve agreed tiers of underwriting overall performance the use of technical underwriting information and following applied underwriting strategy, which in flip approves for increase and profitability of the portfolio.
Ensure compliance with all regulatory requirements, with the aid of often enticing with the compliance, criminal and TCF departments.
Assist with a number of different compliance responsibilities as required by way of Senior Management, this will consist of evaluate of compliance documents, comply with up with IT development.
Work intently with various ranges of administration each internally and externally with clients to make sure the following:
Preferred Qualification and Experience
Minimum qualification – Grade 12 / Matric Certificate
Short time period insurance plan associated qualification would be an advantage
Must have exceeded FAIS assessments – min 60 credit – qualification and journey as decided via “Fit and Proper Requirements” of the FAIS legislation.
Catagory 1.2 Short-term Insurance Personal strains (Advise and Intermediary)
Underwriting trip in Short time period insurance plan would be an advantage
Systems know-how and experience. Experience in MAVEN would be an advantage.
Good know-how to analyze different underwriters’ offerings, coverage phrases and prerequisites and to examine cowl to the SIL presenting and person product presenting and information.
Identify gaps in current coverage phrases and prerequisites and be capable to shut these gaps with the right merchandise and cover
Previous journey in a income function would be an advantage
Knowledge/Technical Skills/Expertise
In depth information of brief time period private traces insurance
Basic know-how of ranking / top class factors
Sound expertise of insurance plan offerings policies (FAIS, PPR, NCA, Insurance Acts, etc).
Knowledge of insurance plan operations.
Technical expertise of insurance
Effective verbal exchange and file writing skills
Excellent analytical competencies to draw close the key factors from intricate details
Team player
Attention to detail
Interpersonal skills
Assertiveness;
PLEASE NOTE: All our recruitment and decision tactics comply with relevant neighborhood legal guidelines and regulations. We will in no way ask for cash or any structure of price as phase of our recruitment process. If you trip this, please contact our Fraudline on +27 800222050 or ahead to TransactionFraudOpsSA@standardbank.co.za
