Think you can juggle risk like a pro and keep clients smiling at the same time?
Join Alpha Direct as an Underwriter, where you’ll crunch numbers, craft policies, and make insurance as exciting as your morning coffee - minus the spreadsheets of doom!
Job Purpose:
The incumbent will be responsible for effectively analysing and underwriting new and existing policies. The primary objective is to achieve underwriting targets, drive growth and ensure client satisfaction by providing technical underwriting support.
Additionally, the incumbent will retain existing business and generate new business opportunities through strategic engagement while meeting Gross Written Premium (GWP), and loss ratio targets.
Key Responsibilities:
- Underwriting:
- Achieve targeted underwriting profit by applying technical underwriting expertise.
- Underwrite risks within delegated authority limits to ensure alignment with the organization objectives.
- Monitor and manage underwriting portfolio to achieve profitability, ensuring adherence to quarterly to annual GWP.
- Implement underwriting measures to improve to enhance risk assessment processes.
- Relationship Management:
- Engage with clients and to map their business needs and deliver expert service, fostering client satisfaction.
- Build and maintain strong, strategic relationships with clients and agents, offering technical and underwriting support when needed.
- Collaborate with internal departments to ensure seamless service delivery and high levels of client and agent satisfaction.
- Business Development:
- Strategically analyse the Objectives to plan and develop new business opportunities.
- Identify growth opportunities through, competitor analysis, and client feedback, enhancing the overall portfolio.
- Proactively work on growth and retention of business to drive Objectives and new business development.
- Engage with potential clients and presenting company offerings.
- Operational & Compliance:
- Ensure full compliance with underwriting best practices, procedures, and regulatory requirements.
- Align underwriting activities with Alpha Direct’s business strategy and operational principles.
- Review and apply underwriting standards to maintain alignment with statutory requirements and optimize policy-level performance.
- Collaborate with senior management to develop cost-effective strategies aimed at reducing business costs and increasing profitability.
Key Knowledge:
- In-depth knowledge of the Local Insurance and Reinsurance markets.
- Solid understanding of underwriting principles, both at policy and portfolio levels.
- Knowledge of short-term insurance products.
- Familiar with financial and legislative requirements relevant to the insurance industry.
- Strong Financial acumen with ability to optimize underwriting performance.
Skills & Attributes:
- Technical & Analytical Skills:
- Exceptional analytical and problem-solving skills.
- Ability to evaluate and underwrite risks effectively to meet profitability targets.
- Communication & Relationship Management:
- Excellent verbal and written communication skills.
- Strong interpersonal and relationship-building skills, with the ability to manage relationships with internal and external stakeholders.
- Business Acumen & Negotiation:
- Strong business acumen with the ability to analyze market trends, customer feedback, and financial data.
- Ability to negotiate and make effective decisions, particularly in a competitive insurance market.
- Attention to Detail:
- High attention to detail in risk assessment, underwriting, and compliance with industry standards.
- Adaptability & Multitasking:
Ability to work in a fast-paced environment, juggling multiple priorities and deadlines effectively.
Required Qualifications & Experience:
- Educational Background:
- Bachelor’s degree in risk, Insurance, Finance, Business or any related field.
- Relevant insurance qualifications- Diploma in Insurance (Higher Diploma in Insurance Management will be an advantage)
- Belong to any Insurance professional body.
- Professional Experience:
- At least 3 years of underwriting and sales experience, preferably in Commercial and Specialized business lines.
- Demonstrated market-facing experience with high levels of client interaction.
