Job Description
Cassava Smartech is looking for a qualified and competent Underwriter to join the Econet Insurance Team. The main purpose of this role is to ensure that the risk accepted by the business is in line with the pricing basis and that correct pricing has been applied to ensure profitability.
Duties and Responsibilities
• Obtains relevant information of the risk and the insured (KYC) that allows the company to know the insured, asses and price the risk correctly.
• Assesses the financial evidence supplied and validates the sum assured proposed by the client to guard against under-insurance and over-insurance
• Calculates the extra premium for all policies with a special loading or a requested extension, after taking into account the risk profile of the applicants.
• Communicates the final underwriting position to the customer. Receives response from the client and update contract details accordingly in order to ensure sound data integrity for statistics, valuation and client servicing.
• Assesses and analysis the claims experience of the customer/portfolio for proper renewal pricing.
• Makes adjustments of any policy terms and conditions per customer/portfolio in line with claims history, premium charges and market conditions.
• Invites clients for renewal after the assessment- this involves meeting, emailing and calling customers for reminders.
• Receives inquiries related to clients’ underwriting requirements from the sales team, agents and or brokers. Investigates and resolves them within 24 hours of receipt.
• Prepares the reinsurance returns, including the schedules and the premiums as required by the treaties.
• Conducts surveys and inspections locally and regionally with the help of Risk Engineer.
• Ensures that the terms under which policies are accepted by reinsurers are in line with the risk accepted by the business.
• Compiles monthly Underwriting statistics per area office
Qualifications and Experience
• A commercial Degree in Insurance or Actuarial Studies.
• A vocational qualification in Insurance is an added advantage.
• 2 years’ experience in an underwriting environment.
