Senior Underwriter

The Senior Underwriter will be responsible for assessing and underwriting risks, reviewing and verifying quotations, and making key decisions on insurance policies.

The Senior Underwriter will be responsible for assessing and underwriting risks, reviewing and verifying quotations, and making key decisions on insurance policies. You will provide technical guidance and support to junior underwriters, ensuring adherence to company standards, pricing policies, and regulatory requirements. Your contributions will play a crucial role in the company’s risk management and overall underwriting strategy.

Responsibilities:

Underwriting:

• Assess insurance applications, evaluate risk, and make decisions on coverage for new and renewing policies.
• Review and validate quotations prepared by junior underwriters, ensuring compliance with internal standards.
• Negotiate with reinsurers and reinsurance brokers regarding placements, special acceptances, and renewal terms.
• Analyze market trends and adjust underwriting strategies accordingly.
• Collaborate with other departments (e.g., Claims, Business Development) to ensure smooth execution of policies and renewal processes.

Technical Support & Guidance:

• Provide technical assistance to junior underwriters, helping them with risk assessments and underwriting decisions.
• Assist in the development and training of junior team members on underwriting techniques and policies.
• Support the Underwriting Manager in reviewing complex cases and providing recommendations for special acceptance.

Analysis & Reporting:

• Conduct portfolio analysis based on claims experience and market trends.
• Prepare statistical reports and assist in the review of pricing structures.
• Monitor and report loss ratios for each line of business to the Underwriting Manager.
• Review terms and conditions for clients with adverse loss ratios in coordination with the Claims department.

Market Research:

• Stay up to date with market conditions and assess the need for new coverage options or adjustments to existing coverage.

Job Requirements:

• A degree or diploma in Insurance, or currently working towards a Chartered Insurance 
• At least 5 years of experience in general insurance, with a strong focus on underwriting.
• Strong understanding of business insurance and risk assessment
• Proficient in Microsoft Office, especially Excel
• Ability to analyze data and make informed underwriting decisions.
• Knowledge of pricing, regulatory compliance, and market trends.
• Excellent attention to detail and problem-solving skills.
• Strong communication and interpersonal skills.
• Ability to make quick, effective decisions and manage multiple tasks in a fast-paced environment.
• Leadership qualities to guide and mentor junior underwriters.