Underwriting Consultant Jobs at Absa Bank in South Africa

  Job Title: Underwriting Consultant Commercial Lines (AIC) - 00071472
Primary Location
:ZA-Kwazulu-Natal
Job Type
:Permanent
Posting Range:08/08/2012 - 16/08/2012

Description


Job Purpose

To underwrite short term insurance policies and administer these policies as a service to clients and brokers. To review individual applications for insurance in order to evaluate the degree of risk involved and determine the acceptance of applications. To administer changes to existing cover

Key Responsibilities

• Underwrite the insurance risks correctly based on information
• Load new business proposals onto the Absa system (ASTI) with zero error margin, as the system will determine the premium
• Send policy documentation to Brokers and clients on cover provided
• Send confirmation of cover letters to various financial institutions to confirm cover for the client
• Upload changes on the ASTI system as per requests from clients or Broker to change existing cover with zero error margin
• Send revised policy schedules to clients and Brokers
• Cancel policies and refund of premium on clients request
• Attempt to retain customer by offering better cover, or decreasing cover of insurance
• Send confirmation of cover letters to various financial institutions, for the financed vehicles as proof that the client is insured with AIC
• Implement risk management initiatives
• Negotiate renewal terms with broker or client and calculate pro-rata refunds
• Provide Brokers or client with an overview of renewal terms and obtain the signed agreement from the broker or client to action the renewal
• Load the renewal terms of agreement onto the ASTI by capturing the data and client details on the system
• Print and send the policy documentation to Brokers or client via mail or email
• Send confirmation of insurance cover of client to various financial institutions via email
• Provide advice on new or value added products based on clients needs
• Educate clients and Brokers on underwriting criteria, specific covers, etc so that they can make informed decisions
• Confirm new payments and or deduction dates where amendments were made to the client or broker
• Provide advice on enhancements embedded within the product offering
• Provide advice on suggested risk improvement initiatives or controls to the client where applicable
• Render an underwriting related service within prescribed turnaround times
• Be readily available to delight customers with efficient customer service
• Effectively build, maintain and manage relationships with colleagues and clients
• Contribute to success of team by taking ownership and going the extra mile

Competencies

• Working with people
• Adhering to principles and values
• Persuading and influencing
• Writing and reporting
• Delivering results and meeting customer expectations
• Following instructions and procedures

General

• The appointment will be made in line with the Divisional Employment Equity strategy

Qualifications


Minimum Requirements

• Grade 12 or equivalent NQF level 4 qualification or higher
• One (1) year experience within a Short Term Insurance underwriting environment
• NQF level 4 FAIS qualification with 60 credits
• One (1) year experience in a FAIS role
• Proficient in MS Office (Word, Excel, PowerPoint and Outlook) and the Internet
• No criminal record

Preferred Requirements

• Intermediary Certificate in Business Studies (ICiBS)(IISA)
• Certificate of Proficiency
• Two (2) years experience in short term insurance underwriting
• Preference will be given to South African Citizens and Permanent residents of South Africa in possession of proof of permanent resident status


How to Apply:
http://www.absa.co.za/Absacoza/About-Absa/Careers/Apply-Online

Deadline: 16th Aug 2012