Job Description

• Risk Assessment and Underwriting

• 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

• 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
  • 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

• 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
  • 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
  • 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

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