Recruit Duo is a specialized recruitment consultancy that connects top-tier talent with leading firms in the Financial Services and Insurance industries. By applying through a specialist recruiter like Cecilia, you gain an “insider” advantage, as they often provide coaching to ensure your CV matches the specific needs of their high-profile clients in the Cape Town insurance hub.
Role Overview & Key Responsibilities
Underwriters are the “gatekeepers” of the insurance world. You will be responsible for evaluating risks and deciding whether to provide insurance coverage and under what terms.
- Risk Assessment: Analyzing applications for Personal or Commercial lines to determine the level of risk involved.
- Policy Issuing: Calculating premiums and determining the appropriate coverage limits for clients.
- Renewals & Endorsements: Reviewing existing policies to adjust terms or premiums based on updated risk profiles.
- Broker Liaison: Communicating with brokers to clarify client information or explain underwriting decisions.
- Regulatory Compliance: Ensuring all activities align with the FAIS Act and internal company mandates.
Minimum Requirements (Non-Negotiable)
- Experience: 1–2 years of active experience as an Underwriter.
- Regulatory: RE 5 (Regulatory Examination) certificate is essential.
- Qualification: NQF Level 4 in Short-term or Long-term Insurance.
- Focus Areas: Knowledge of Commercial or Personal lines.
- Location: Must be based in Cape Town.
Career Advice: Moving from Junior to Pro
- The RE 5 Advantage: Since you already have your RE 5, you are part of a sought-after pool of “Fit and Proper” individuals. Highlight your DOFA (Date of First Appointment) on your CV to show how long you have been working toward your full competency.
- Specialization: If you have experience in Commercial lines, emphasize your ability to handle complex risks (like business assets or liability). This usually carries a higher salary potential than Personal lines.
- Accuracy is Currency: Underwriting is about numbers and fine print. Ensure your CV is perfectly formatted; if a recruiter sees a typo in an Underwriter’s CV, they may worry about your attention to detail on a policy document.
- CPD Points: If you have already started earning your Continuous Professional Development (CPD) points for the current cycle, mention this to show you are proactive about staying compliant.
Possible Interview Questions
“How do you handle a situation where a broker is pushing you to accept a risk that falls slightly outside of your mandate?”
- Answer: “I maintain a professional relationship with the broker but prioritize the company’s risk appetite. I would explain exactly why the risk doesn’t fit the current mandate and, if possible, suggest what terms or exclusions would be needed to make the risk acceptable.”
“What is the most complex commercial risk you have assessed in your 2 years of experience?”
- Answer: (Think of a specific case). “I recently assessed a small manufacturing plant. I had to look beyond just the assets and consider the fire safety ratings and the liability associated with their specific production line.”
“How do you ensure you are staying updated with the latest changes in the FAIS Act or insurance regulations?”
- Answer: “I regularly attend industry webinars, subscribe to FSCA updates, and ensure I am tracking my CPD points through recognized training providers to keep my ‘Fit and Proper’ status current.”
How to Apply
- Location: Cape Town.
- Email CV to:
cecilia.m@recruitduo.co.za - Subject Line: “Application: [Personal/Commercial] Underwriter – [Your Name]”
- Mandatory Attachments: Your CV, RE 5 Certificate, and NQF 4 Qualification.