Responsibilities
- Review insurance applications submitted by potential policyholders, carefully assessing all relevant information including financial history, credit scores, and claims histories to determine risk levels.
- Analyse historical loss data and claims information to identify patterns and trends that may impact underwriting decisions and pricing strategies.
- Stay informed about market trends, industry developments, and regulatory changes affecting property insurance, and adjust underwriting practices accordingly.
- Determine the appropriate type and amount of coverage based on individual risk profiles.
- Ensure all records of underwriting decisions, correspondence, and other relevant information in compliance with company policies and regulatory requirements.
- Stay abreast about market trends, industry developments, and regulatory changes affecting property insurance, and adjust underwriting practices accordingly.
- Document all underwriting decisions and ensure accurate records are maintained for auditing purposes.
- Identify potential risks and propose risk management strategies to mitigate losses and protect the company's financial interests.
- Ensure compliance with all relevant insurance laws, regulations, and internal policies. Understand and adhere to ethical guidelines in underwriting practices.
Requirements
- Bachelor’s degree in business, Finance, Engineering, or related field.
- Minimum 10 years of related experience with extensive Insurance Market knowledge, including complex risks underwriting
- Ability to analyse large industrial risks with strong analytical skills to evaluate risk factors, assess data, and make informed underwriting decisions.
- Experience of risk engineering is a plus.
- Strong knowledge in insurance laws, regulations, and industry best practices.
- Effective and good communication skills, written and verbal, for engaging with stakeholders (internal & external).
- Strong insurance broker relationships in Singapore and the Asian region.
- Ability to navigate changing market conditions, regulatory requirements, and customer demands.
- Portfolio Management with the ability to prioritize tasks and meet deadlines in a fast-paced environment.
- Comprehensive understanding of property insurance policies, coverage options, and underwriting guidelines.
- Ability to work independently and collaborate effectively with a team.
- Sound decision-making skills and ability to exercise judgment in complex situations
Foot Note:
1) All personal data collected will solely be used for recruitment purposes.
2) By submitting your application, you therefore consent the company to retain the information provided for future opportunities for a limited period. Such data will be deleted or anonymized when it is no longer required for a business or legal purpose.
