SWIFT CAPITAL INSURANCE BROKERS
Position: Underwriting Officer
Reports To: CEO
Department: Underwriting
Role Overview
The Underwriting Officer will provide strategic direction for the brokerage's underwriting operations. This role is crucial for ensuring profitable portfolio expansion, effective risk placement, and adherence to all regulatory and corporate governance standards.
This position involves overseeing underwriting activities across all general insurance lines, cultivating strong insurer relationships, maximizing renewal retention rates, and mentoring underwriting staff to deliver excellent, compliant, and client-centric service.
Key Responsibilities
Strategic Underwriting Leadership
- Develop, implement, and evaluate underwriting policies, placement strategies, and risk assessment methodologies that align with the brokerage’s goals and market standing.
- Manage all general insurance underwriting operations to ensure competitive, technically sound, and profitable placements.
- Monitor the performance of the insurance portfolio, including growth, retention, profitability metrics, and claims trends.
- Drive the achievement of established targets for renewal retention and premium growth.
Risk Assessment & Portfolio Management
- Review and approve complex or high-value risks before placement with insurers.
- Ensure precise risk analysis, effective price negotiation, and appropriate coverage structuring in partnership with insurers.
- Conduct ongoing reviews of account performance and portfolio composition to support sustainable business growth.
- Offer expert underwriting advice to the business development and broking teams.
Insurer & Reinsurance Engagement
- Maintain robust relationships with insurers and underwriting partners to secure favorable terms and service levels.
- Collaborate with insurers on facultative placements and specialized risk solutions as needed.
- Track insurer service performance and address any issues to ensure client satisfaction.
Operational Excellence & Compliance
- Ensure full compliance with regulatory requirements, internal controls, and corporate governance practices.
- Enforce adherence to client onboarding procedures, including Know Your Customer (KYC) and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) protocols.
- Promote process standardization and utilize technology to enhance efficiency and reduce turnaround times.
- Oversee the timely preparation of underwriting and portfolio performance reports for executive management.
Leadership & Team Management
- Lead, mentor, and manage underwriting personnel to achieve high performance and foster professional development.
- Establish departmental objectives that align with the company’s strategic plan and balanced scorecard.
- Conduct performance reviews and cultivate a culture of accountability, teamwork, and technical expertise.
Cross-Functional Collaboration
- Work closely with the Claims, Finance, Business Development, and Compliance departments to optimize underwriting outcomes and enhance the client experience.
- Provide insights and analytical support to executive management for strategic decision-making.
Key Performance Indicators
- Growth in Gross Premium Written (GPW).
- Renewal Retention Rate.
- Portfolio profitability metrics and loss trends.
- Debtors Ratio.
- Compliance and audit results.
- Net Promoter Score (NPS) / client satisfaction measures.
Qualifications & Experience
- Bachelor’s Degree in Insurance, Risk Management, Business Administration, or a related field; an MBA is highly desirable.
- A professional insurance qualification (ACII, FCII, or equivalent) is mandatory.
- A minimum of 7 years of experience in general insurance underwriting.
- At least 3 years of experience in a management or supervisory capacity.
- Comprehensive understanding of underwriting principles across all major general insurance classes.
- Proven track record in managing insurer relationships and underwriting portfolios.
Key Competencies
- Strategic thinking and strong commercial insight.
- Proficiency in advanced risk assessment and portfolio management techniques.