At FNB Short Term Insurance, a dynamic opportunity exists for an experienced Underwriter to join their team in Randburg. This role is integral to delivering exceptional service to clients, brokers, and internal stakeholders by meticulously assessing and approving personal insurance applications. The position demands a keen eye for detail, a strong understanding of risk, and the ability to balance these with the imperative for business growth.

The successful candidate will be part of a forward-thinking environment where curiosity is encouraged, and innovation is key to shaping the future of personal lines insurance. FNB is committed to building products and services that empower their people, making this a chance to contribute to a team of diverse talents and adaptable minds.

About the Role

This Underwriter position involves a comprehensive evaluation of applications for a range of personal insurance products, including building, contents, motor, portables, and personal liability. Beyond initial approvals, the role encompasses managing both new and existing business, ensuring that underwriting practices align with both risk mitigation strategies and commercial objectives. A significant aspect of the role is facilitating the underwriting process by obtaining necessary information telephonically and referring complex cases to senior underwriters when required.

Furthermore, the Underwriter will play a part in developing and maintaining robust underwriting frameworks, policies, and procedures. This includes providing guidance and training to various stakeholders, such as brokers and internal teams, to ensure consistent application of underwriting criteria. Leveraging technology and data analytics to streamline processes and enable faster, more accurate risk assessments is also a key component, as is collaborating with product development teams to ensure underwriting practices remain relevant to evolving market demands.

The responsibilities of this role are multifaceted, focusing on operational excellence, risk management, and stakeholder engagement:

• Evaluate, analyse, and approve insurance applications for personal lines products, ensuring adherence to underwriting guidelines.
• Obtain required underwriting information telephonically and refer complex cases to senior underwriters for sign-off.
• Facilitate underwriting processes for both new and existing business, maintaining efficiency without compromising quality.
• Contribute to the development and maintenance of underwriting frameworks, policies, and procedures.
• Provide guidance and training on underwriting criteria to brokers, agents, and internal teams.
• Utilise technology platforms and data analytics to enhance risk assessment accuracy and processing speed.
• Continuously review and refine underwriting workflows to improve turnaround times.
• Implement automation and digital solutions to minimise manual tasks and boost productivity.
• Monitor key performance metrics to identify and address operational bottlenecks.
• Thoroughly assess applications to identify potential risks and ensure compliance with company risk appetite and regulatory requirements.
• Apply sound judgement to balance risk exposure with profitability goals.
• Monitor portfolio performance to identify emerging risk trends and adapt underwriting strategies.
• Collaborate with claims and actuarial teams to ensure underwriting decisions are data-informed.
• Build and maintain strong relationships with brokers, sales, servicing, retentions, and claims departments, fostering trust and loyalty through clear communication.
• Ensure all underwriting practices comply with local insurance regulations, industry standards, and company policies.
• Stay informed about industry developments, competitor offerings, and regulatory changes.
• Support the achievement of financial targets by maintaining a balanced risk portfolio.
• Exercise delegated authority for decision-making and escalate complex cases as needed.

What They're Looking For

To excel in this position, candidates should possess a strong foundation in insurance and risk management, coupled with significant practical experience. The ideal candidate will demonstrate excellent analytical and problem-solving skills, with a commercial mindset focused on profitability.

Key qualifications and competencies include:

• A Bachelor’s degree in Insurance, Risk Management, Finance, or a related field.
• Relevant professional insurance qualifications.
• A minimum of 5 years of underwriting experience specifically within personal lines insurance.
• Commercial underwriting experience is considered advantageous.
• A valid RE5 qualification.
• FAIS compliance.
• Strong analytical and decision-making capabilities.
• A clear focus on commercial outcomes and profitability.
• Excellent communication and negotiation skills.
• A customer-centric approach.
• The ability to effectively balance risk assessment with client retention objectives.
• Proficiency in stakeholder engagement.
• Meticulous attention to detail.
• Robust problem-solving abilities.
• The capacity to work independently and manage multiple priorities effectively.
• Demonstrated professional judgement and strong underwriting discipline.

In South Africa, personal lines underwriting roles can offer a rewarding career path. Depending on experience and the complexity of the portfolio managed, underwriters can expect remuneration that reflects their expertise. Employers often include major insurance companies, financial institutions, and specialised underwriting agencies. Progression typically involves moving into more senior underwriting roles, specialised risk management positions, or management within the insurance division.

Qualifications

• Bachelor’s degree in insurance, Risk Management, Finance, or related field.
• Relevant Professional insurance qualifications.
• Minimum 5 years of underwriting experience in personal lines insurance.
• Commercial experience is advantageous.
• RE5 qualification.
• FAIS compliant.

Key Competencies

• Strong analytical and decision-making skills.
• Commercial and profitability focus.
• Excellent communication and negotiation skills.
• Customer-centric mindset.
• Ability to balance risk and retention objectives.
• Strong stakeholder engagement skills.
• Attention to detail.
• Problem-solving ability.
• Ability to work independently and manage multiple priorities.
• Professional judgement and underwriting discipline.

Apply now if you are interested in taking the next step. We look forward to engaging with you!

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties. 

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Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.