Facultative Specialist Underwriter

You will be responsible for the underwriting of new and renewal of existing business in standard risk classes and together with the facultative team, developing and maintaining a profitable Facultative portfolio, with adherence to departmental underwriting philosophy and rules and guidelines. 

Duties:

• Actively support the Underwriting function in accepting business on behalf of the Company, from cedents and brokers within delegated authority levels and subject to technical risk assessment and application of commensurate terms and conditions.
• Develop and maintain strong relationships with brokers, reinsurers as well as internal stakeholders 
• Gain a full understanding of what constitutes valid and technical accurate underwriting to develop appropriate levels of underwriting skill and technical competency.
• Directly communicate and negotiate reinsurance terms and pricing to internal stakeholders
• Understand and demonstrate knowledge of standard risk coverages, contracts, policy forms and terms and conditions
• Understanding the relationship between the Company's risk appetite and the purchasing of reinsurance coverage.
• Understand and use the various underwriting tools, rating tools and pricing methodologies in addition to utilizing technical referrals for calculating accurate technical premiums as appropriate.
• Understand market pricing and market terms and conditions as well as demonstrate awareness of broader industry issues and trends.
• Generate and service both individual risk as well as Program/Auto-Fac opportunities.
• Collaborate jointly with Facultative and Treaty teammates to provide holistic product solutions on behalf of the company as an organisation.
• Bring an array of solutions, alternatives and options to clients based on their reinsurance needs whilst not compromising technical pricing or exceeding capacity guidelines.

Minimum Requirements

• Matric - ess
• FETC in Short Term Insurance NQF 4 (120-150 Credits) - ess
• Higher Certificate in Short Term Insurance NQF 5 (highly advantageous)
• Previous exposure within a reinsurance unit 
• RE 5
• Provide evidence of being on the FSCA Register (DOFA)
• Basic Computer literacy (Word, Excel, Outlook, Powerpoint) Work experience on the TIAL Operating System (System A) – highly advantageous
• Advanced Product knowledge and application in respect of all classes of insurance indemnified under the Commercial Lines Policy (Reinsurance practice and niche product knowledge – highly advantageous.)
• Minimum of 8-10 years of relevant work experience.
• Knowledge and understanding of current market trends within the Industry, external factors that could impact the business, as well as a sound understanding of competitor product offerings
• Binder/Outsource/Product Training is highly advantageous
• The role will require travelling nationally from time to time. A valid driver’s license is therefore essential.

You will be responsible for sourcing and placing facultative business.