Job Description

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Underwriting Strategy, Business Growth & Planning

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  Implementation and monitoring of various underwriting guidelines related to Commercial product segments such as Property, Engineering and Miscellaneous within the specific region of Mumbai and to identify the business risk associated.
  Main accountability includes Risk acceptance, Risk selection, Policy coverage (Policy wording, Add-on covers, Exclusions / Inclusions, Special warranties, etc), Pricing & Deductibles, Reinsurance adherence, Risk management overview, Claims review, Renewal business, etc within the purview of set Underwriting Guideline to achieve the desired business outcomes
  Monitoring TAT of Local Underwriters within the Region and Referral managements in line with the Underwriting authority matrix.
  Supporting the team in assessment of underlying risk by applying technical knowledge to ensure acquisition of good quality business.
  Reviewing proposals and providing Inputs in terms of Reinsurance guidelines, local market dynamics, nature of business, quality of risk and recommendations thereof.
  Support Marketing team for joint pitch for business conversions and post placement client follow up and meeting with channel partners for the relationship building while main focus towards assisting for Technical aspects
  Monitor performance and risk associated with various products to identify and drive improvement opportunities.
  Providing strategic inputs to the National head for the formulation of Long-Range Plan (LRP) and Annual Operating Plan (AOP) and manage projects that are an outcome of the same.
  

Risk Management
Providing sanction on deviations by assessing exception cases over and above standard parameters along with the Risk Engineers
Review the risk based on the market intelligence and based on the third party risk inspection reports
Track the major accounts in the books across the LOB\xe2\x80\x99s and weed out the loss making business in case no opportunity exit for the improvements
Identify the early trends potential business threats and make necessary corrections in books and protect the books from new business according to time to time updated underwriting guidelines
Relationship management
Interacting with internal stakeholders (Operations, Marketing, Finance, etc.) to meet the smooth proceedings of the business requirements at various stages
Develop the key relationship with major clients and Intermediaries along with marketing team to develop long term sustainable business growth
To have a Structured Dialogue with Internal Sales Teams on a periodical basis
Audits, Analytics & MIS Reporting
Monitoring the performance of the portfolios, identifying adverse trends and profitable trends and growth segments, recommending actions and further tracking\xe2\x80\x99s with the help of Head office
Implementing Loss Control Measures like Weeding out Loss making renewals
Preparing various MIS as per the requirement of regulators, reinsurers and other depositories as required by the Head office
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. Facilitate the IRDA audits, Board compliance audit for the region and across the region post formulation of audit report and compliance follow up with stake holders for closure of open points
Area Review
Monitoring adherence of various processes in Commercial underwriting to ensure compliance with regulatory requirements
Regularly share the market feedback on product, process and business trends, specific risk with peers and head office.
Team Development
Participating in monthly and quarterly reviews with function head and own team
Participating in selection process to identify the right talent for various positions within Non-Motor Underwriting team
Establishing individual performance expectations for team and regularly review their performance
Identifying and creating development opportunities for team members to enhance domain knowledge and develop underwriting expertise to drive growth in productivity


Work Experience

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  Minimum 12-14 years of relevant industry experience in Commercial Underwriting (3-5 yrs Industrial Experience)
  Domain expertise in General Insurance, Product Developments, Risk Management and Reinsurance
  Broad Exposure of Underwriting management in Property, Engineering and Miscellaneous lines of business
  Understands the key drivers behind businesses; Brokers, Agents, etc
  Strong market understanding, product knowledge and understanding of industries in the region and geography assigned
  Balance Approach with Good people management skills

Good negotiation skills, Team Player, Proactive


Department :

HO


Open Positions :

1


Skills Required : \xef\x82\xa7

Domain expertise in General Insurance, Product Developments, Risk Management and Reinsurance


Location :

HO


Education/Qualification : \xef\x82\xa7

Graduate or Postgraduate \xe2\x80\x93 Added advantage Engineering Background and / or Post Graduations


Years Of Exp :

10 to 15 Years


Posted On :

30-Oct-2023


Designation :

Engineering Underwriter