Job Description
Responsible for underwriting of new and renewal Marine Insurance business of higher technical complexity under underwriting standards and delegated authority levels.
Responsibilities include, but are not limited to, the following:
- Adhere to both business and underwriting plans and strategies to support the business growth through the various distribution channels.
- Working with the Head, own team and the other Team Leaders to drive the profitable growth of Marine portfolio for the company and achieving market leadership.
- Working with the Head to establish best practices and processes to ensure that the team meet the company’s service standards set.
- Provide technical guidance to the team.
Underwriting
Assist the Head and work with own team and the other Team Leaders to:
- Develop, maintain, review and enhance appropriate Pricing Model and establish Market Price.
- Underwrite and maintain a profitable book of Marine Insurance business.
- Ensure Technical Portfolio Management and conduct remediation for underperforming portfolios.
- Assist the Head to compile, analyze and prepare monthly reports required and present during monthly meetings and business reviews.
- Assist the Head to develop, maintain, review and enhance Underwriting Manual and Policy Wording.
- Assist the Head to ensure that the team determines an acceptable pricing and terms, within their underwriting authority and underwriting guidelines, on new business and renewals.
- Ensure acceptable loss ratio through coordinating account stewardship process, loss control activities, tracking and following up on large claims and related activity as required.
- Ensure evaluation of facultative reinsurance needs and coordination as necessary within company underwriting and risk control guidelines.
- Ensure that sanction checks are conducted.
- Ensure timely and proper passing down of instructions to Policy Administration with the required information / documentation.
- Stay current on competition, underwriting environment, and market conditions and to share findings and updates with all members of the team as appropriate.
Business Development
- Assist the Head in enhanced product development and successful business penetration launch.
- Assist the Head in growing new and existing business through strengthened account relationships by way of a multi-tier approach.
- Assist the Head in driving efforts in key business and line reviews including product selection, pricing, new product introductions, competitive (healthy) conversions via Key Decision Influencer, etc.
- Assist the Head in performing territory and distribution channel analyses and planning in order to prioritize allocation of efforts to maximize profitable growth.
Channel / Relationship Management / Service Standards
- Develop, maintain and deepen relationships with intermediaries in support of business retention and acquisition and works with customers and distributors (agents & brokers) to determine their insurance related needs and provide solutions.
- Maintain service standards by timely response to intermediaries’ requests and timely receipt of collateral and agreements in addition to meeting deadlines on submissions of quotations, certificates and/or policies.
- Adopt practices to ensure rigorous screening via our KYC process.
Job Requirement
- ACII, ANZIIF or Degree/Diploma in Insurance
- Basic Degree/Diploma in Business or Maritime with CGI
- Minimum 2-5 years’ experience in Marine insurance underwriting with direct intermediary engagement / technical underwriting.
- Some knowledge of Marine insurance operations, underwriting procedures and understanding in Marine Cargo classes, products and policy wordings.
- Some understanding of risk assessment, laws and legislation in relation to the marine insurance industry.
- Experienced leading a small team would be a plus.
We apologize that only shortlisted candidates will be contacted. Thank you
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PERSOLKELLY Singapore Pte Ltd • RCB No. 200007268E
EA Registration No. R22106437 (TEOH KAI HUI)
