Job Description

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Risk Assessment and Underwriting

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  Review technical proposals received from various retail and corporate customers so as to ensure risk undertaken is as per guidelines.
  Evaluate proposal thoroughly considering past claims/cases and assess conformance with the set underwriting guidelines; seek more information on proposals, customers, if required.
  Conduct 360 degree review of risks along with any associated loss ratio; set standard terms and conditions for the proposal
  Arrive at the quotes; discuss the same with the superior, if required; provide clarifications to the customer / relationship manager / intermediary , if required
  Scrutinize the proposals received and assess adherence to the norms, guidelines and if the premium considered is correct and accounts for associated risk; share the information with the National Head, if there is a deviation
  Review and revise Underwriting guidelines and SOPs, on an annual basis.

Premium Growth and Audits

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  Visit the locations and meet major IMDs; understand problem areas and issues / concerns
  Provide guidance, if required and resolve any issues / concerns from IMDs
  Clarify organization guidelines, premium calculation and probable risks which should be accounted for when arriving at the premium rates for policy issuances; share business understanding, past cases and spread awareness within the team on risk assessment and mitigation
  Conduct sample audits across the zones to check for non-adherence to company guidelines; seek clarifications from the team and draft the report; share the report with the National Head
  Face internal and external (IRDA) audit while ensuring all audit requirements are fulfilled in a timely and effective manner. Take corrective actions in collaboration with NHOD as per audit findings.

Projects / Special Initiatives

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  Take up special projects / initiatives to strengthen the organizational processes, systems and governance systems.
  Collaborate with different teams to provide them the perspective from the technical (underwriting) perspective including challenges faced real-time with agents / IMDs; provide inputs on improving functionality as well reduce workload in repetitive tasks
  Collaborate with Product Development Team for new product filing and revisions in existing products for the LOB.
  Work with teams to ensure all underwriting guidelines / norms / calculators are properly built-in; conduct simulations across test cases and ensure that everything is in line with the set expectations
  Present the new (or modified) functionality to the relevant stakeholders; seek feedback and incorporate the same to strengthen the system for users
  Drive implementation or launch of the new functionality (or modified) / system and ensure a streamlined deployment; provide training to underwriting teams / IMDs on utilizing the same to deliver business for the organization

Product Training

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  Drive implementation of various training efforts in case of new / existing product launch in terms of premium calculation; product nuances, etc.; clarify doubts and resolve concerns, if any
  Assess areas of improvement amongst the IMDs and provide effective training to them; address development issues / concerns and enable them to drive sales for the organization in an effective manner
  Training Content Development for various training programs to be conducted internally and externally.

Data Analysis

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  Analyze the growth achieved across zones and whether the loss ratio is controlled across zones
  Identify areas requiring special attention
  Chart out insights from the data
  Share the analysis report with the National Head and other relevant stakeholders regularly

Reinsurance and Co-insurance for Liability LOB

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  Arrange Facultative Reinsurance to maximize the business while ensuring effective risk transfer. Also, ensure complete, compliant & timely risk placements through RI brokers and Reinsurers.
  Ensure timely Reinsurance Bordereau submission, so as to be compliant with Treaty Guidelines.
  Maintain Single Risk Report as per guidelines stated by the Treaty Leader (

compliance).
Claims Review

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  Prepare reports for specific complex claims so as to enable Claims to take the right decision wrt Claims Payment.

Department :

North


Open Positions :

1


Skills Required :

Industry Understanding & Competitive Awareness; Relationship Management; Underwriting Excellence; Claims Excellence


Location :

Corporate Marketing Delhi


Education/Qualification :

Graduate, Post Graduate or equivalent (Insurance specialization)


Desirable Skills :

work experience in underwriting for Liability Insurance (Casualty/Financial/Cyber)


Years Of Exp :

5 to 10 Years


Posted On :

08-Nov-2023


Designation :

Deputy Manager Liability Underwriting