Job Description
Your Role:
The position of Senior Property Underwriter is within our SMD team. The position involves the underwriting of new and renewal Property (Fire & Terrorism) accounts in line with Chubb guidelines as well as developing business from an allocated panel of distribution partners within their delegated authority.
It therefore requires an ability to build and maintain relationships with Banca, Agency, Brokers, IFA, etc and tenacity and skill in pursuing target accounts. It also requires that the individual establishes and executes business plans to maximize opportunities with those brokers.
Within Chubb the role requires that the individual coaches and develops less experienced staff, both in technical and soft skills and is able to demonstrate enthusiasm and an ability to make decisions both independently and in collaboration with colleagues and/or managers.
Your Responsibilities:
Achievement of the Personal premium budget
Commercial Underwriting Process / Analysis
• Working within the Property department, on an assigned Corporate broker panel
• Writing a MD/BI portfolio in accordance with Chubb underwriting strategy
• Select new risks and underwrites renewals for assigned book of business and/or for designated speciality classes or market segments
• Organise and presents significant, complex accounts to Branch, Regional Office or COG for approval as applicable
• The role is split between development work and managing the existing account
• Accounts include a mix of multi-national and Singapore domestic business; typical premium size ranges from S$10,000 to S$250,000
• Key player on multi-departmental accounts
• Provide technical leadership for underwriting/marketing in the department or branch including risk referrals and portfolio management; serves as a resource regarding unique coverage needs
• Provide expertise in a speciality given Customer Group or line of business
• Maintain a high level understanding of pricing individual risk exposures, being able to balance with a portfolio view
• Assist others in the development of pricing strategies, renewal negotiation strategy and developing game plans on new business submissions, with focus on enabling business through technology solutions
• May serve as a higher level of underwriting authority for others in branch
Relationship Management
• Identify, analyse and develop sources of desirable new business opportunities including cross-departmental opportunities
• Preparing, delivering and negotiating quotations
• Participation in branch 'broker marketing teams'- build and maintain long term relationships with key producers and insureds; deals with producer principals on complex underwriting issues
• Present to prospective producers; may initiate new producer appointments
• Identify and shares information within the Branch, regarding competitors products and underwriting
• Provide expertise on accessing opportunities for growth in a speciality, Customer Group or line of business
Your Skills & Experience:
• At least 5 years of experience in a Property or Package Underwriting and Development role with an insurance company
• Able to develop creative solutions to unique underwriting situations
• Understand advanced pricing techniques (retro rating, composition of experience mod, etc.), when to use, how to use, how to sell, etc
• Understand account servicing costs
• Be familiar with developing marketing plans and handling complex accounts.
• Understand the underwriting appetites of the other departments and how those relate to interdepartmental accounts
• Understand the broker / agent / IFA / Banca selection and appointment process
• Make recommendations for tailoring coverage and manuscripting policies
• Familiar with the products / services of key competitors
• The ability to operate and perform well in a team environment, coordinating with Claims, Loss Control, other SBU’s and CIS/ P&C management is required
• Have experience in the interpretation and analysis of claims and appropriate deployment of loss control resources
• Display excellent collaboration, communication and negotiation skills both internally and externally
• Demonstrate ability to effectively train entry level underwriters and to orient new experienced hires
• Working knowledge of Microsoft systems including Excel Word and PowerPoint
