An exciting opportunity has opened up at one of the premiere specialist risk underwriters in the insurance market. They have a vacancy for a Cyber Risk insurance underwriter and would also like to interview candidates currently consulting on Cyber Risks at employers such as PWC, Deloitte and Grant Thornton. For those people this is a chance to be trained up in cyber risk insurance underwriting.
Required Minimum Qualifications
Business degree with IT and Cyber qualifications
Understanding of/ Ability to interpret financials a requirement
RE and FAIS compliance
Required Experience/ Required Knowledge and Skills (relevant or in a similar role)
Specialist Cyber underwriting or consulting experience with at least 3 years’ experience including:
Industry segmentation knowledge and applicable risk exposures
Principle Duties and Responsibilities
Underwrite specific classes of business currently offered
Adhere to individual underwriting mandates and guidelines to ensure responsible underwriting and profitability of the portfolio
Approve risk selection within the boundaries of the specific product line. Quote, accept and renew risks within the agreed guidelines of the service level agreement and within delegated mandates
Combination of both internal and external relationship development on all liability products and services to brokers that the company already has a relationship with, resulting in renewals or sales
Action all requests from credit control team
Re-underwrite renewals to ensure organic growth and maintain profitability of portfolio
Develop and maintain effective business relationships brokers in order to attract, develop and retain profitable business.
Ensure all technical aspects and administrative functions of underwriting are adhered to.
Train and mentor the team and brokers on product lines
To assist in placing risks that falls outside of the scope of treaty reinsurance arrangements, into other markets locally and overseas
Analyse qualitative and quantitative data prepared by and brokers to provide approval for risk selection and acceptance, coverage and price.
Recommend creative alternatives in regards to rating plans, coverage and payment plans. Recommend or implement changes to improve productivity, profitability, growth and the quality of assigned book of business.
Decline unsuitable risks (and log these on the decline register for record purposes).
Ensure that policy transactions (quotes, new business, endorsements, renewals, post loss, cancellations) are issued and changes recorded accurately and in a timely manner by rating and/or capturing transactions to the core business system.
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