Underwriter

Job ID

139731

Closing Date: 04 June 2025

FAIS Affected

Job Purpose

To underwrite clients medically and financially to profitably grow the risk book on an underwriting and administration basis, in line with Nedbank's business strategy. 
Responsible for assisting with the underwriting of Personal Lines products with the explicit goal to achieve sustained profitable growth.  
The individual will offer underwriting support and develop sophisticated guidelines for referral / underwriting decisions. They will leverage their expertise to deliver innovative solutions for business partners. Additionally, they will identify underwriting trends and report any issues to senior management and the actuarial teams.

The incumbent will provide support as follows:
•    Evaluate, review and analyse insurance applications and screen applicants against set criteria in order to     
     determine client risk and make informed decisions with regards to risk acceptance 
•    Ownership for personal lines referrals, queries and processes
•    Provide support to all stakeholders – both internal and external
•    Ensure that all queries and referrals from and with regards to Operations (Sales, Servicing, Retentions, 
     Claims, etc.) are all handled within SLA requirements 
•    Further develop and enhance underwriting rules and processes
•    Drive the implementation and execution of corrective underwriting actions 
•    Strategic input on projects and initiatives
•    Technical underwriting advice

Job Responsibilities

Quality Underwriting, Risk Assessment and Policy Management: 
Analyze and underwrite risks involved in insuring clients, ensuring compliance with the company's standards and 
 risk appetite.
Analyse and evaluate life insurance applications against set criteria in order to determine the client's financial, medical, occupational and avocational risk to the business.
Collaborate with relevant stakeholders, such as risk advisors, consultants, brokers, to obtain information 
  relevant to the client's life insurance application., such as medical background and financial status.
Make decisions regarding the acceptance, pricing, and policy terms and conditions to ensure a profitable loss 
  ratio.
Escalate client applications as and when necessary, where risk is uncertain or approval and rejection is  
 unclear.
•    Ensure the implementation of underwriting policies and procedures.
•    Monitor medical underwriting requirements to ensure cost effectiveness of pricing.
•    Monitor medical and financial underwriting decisions to ensure alignment with pricing.
•    Ensure adherence to agreed Service Level Agreements (SLAs) in place with internal and external 
        stakeholders.
Ensure the underwriting and system processes are functioning correctly on a daily basis.
Ensure adherence to underwriting processes by complying with agreed upon standards.

Cultivate sustainable relationships with stakeholders and clients:
Develop and maintain effective working relationships with internal and external customers.
Collaborate with internal clients (Claims; IT; Customer Services and Sales), and external clients (Outsourced 
 Vendors; Brokers, Chief Medical Officer; Reassurers) through attending underwriting specific 
Provide authoritative, expertise and advice to clients and stakeholders.
Make recommendations to improve client service and fair treatment of clients within area of responsibility
Participate and contribute to a culture which builds rewarding relationships and provides exceptional client 
 service.
Understand and embrace the Nedbank vision and demonstrate the values through interaction with team and 
 stakeholders.

Training, Development and Continuous Learning: 
Keep abreast of legislation and other industry changes that effect on role by reading the relevant newsletters, websites and attending sessions.
Improve personal capability and stay abreast of developments in field of expertise by identifying training courses and career progression for self through input and feedback from managers
Ensure personal growth and enable effectiveness in performance of roles and responsibilities by ensuring all learning activities are completed, experience practiced and certifications obtained and/or maintained within specified time frames.
Ensure information is provided correctly to stakeholders by maintaining knowledge sharing knowledge with team.

Enabling efficiencies and achievement of goals:
Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture 
 building initiatives.
Participate and support corporate social responsibility initiatives for the achievement of key business 
 strategies.
Identify and recommend opportunities to enhance processes, systems and policies and support implementation of 
 new processes, policies and systems.
Positively influence and participate in change initiatives.
Identify opportunities to enhance cost effectiveness and increase operational efficiency.

Essential Qualifications - NQF Level

Essential Certifications

•Insurance related qualification or equivalent (such as National / Higher Certificate in Short-term Insurance) would 
 be an advantage
•Regulatory Exams (RE5 and/or RE1)
•FAIS accredited – necessary qualifications and experience as determined by “Fit and Proper Requirements” of the 
 FAIS legislation

Minimum Experience Level

3 - 5 years of proven experience as an underwriter in the life insurance industry
3 - 5 years of proven underwriting experience in Short Term insurance (Personal Lines) – Preferable
Extensive knowledge of insurance products including Personal Lines and Multi-Mark III products
Thorough knowledge of financial services industry (specifically insurance and retail banking)
Understanding of Insurance and banking operating systems

Technical / Professional Knowledge

Behavioural Competencies