COMPANY DESCRIPTION
A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.
A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions. In 2023, 2022 and 2020, MSIG Singapore was awarded Insurance Asia Awards' Claims Initiative of the Year.
MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.
RESPONSIBILITIES
- Develop and implement Property & Casualty (which includes Engineering, Construction, Bonds) business strategy, initiatives and plans; responsible for both the Topline and Bottomline of the Property & Casualty segments. This also includes product development, review of policy wordings and underwriting/Treaty guidelines, Property & Casualty platform development (if any) and management of distribution of Property & Casualty products and services across all distribution channels
- Liaise with Business Units on referral accounts and prepare referrals to MSIG Asia/Head Office/Treaty/CEO for approvals
- Ensure that reasonable Turn Around Time is achieved for the account to be replied to the Business Units
- Ensure that prudent technical underwriting is conducted as well as balancing the business aspects of securing the accounts.
- Collaborate with Governance, Reinsurance, Actuarial and Claims teams to manage loss ratios
- Negotiate, underwrite, accept all accounts within Risk Acceptance Authority/Risk Acceptance Guide
- Develop and mentor other more junior underwriters / Business Units and explain the decision taken for the accounts.
- Market engagements with the industry
- Ensure compliance with all laws, regulatory provisions and Group policies as are relevant to the role
- Undertake any other duties as may be assigned
- Tertiary qualification and professional insurance qualifications
- At least 8 years of experience in a senior / head level developing and underwriting Commercial insurance business and products
- Experience in Commercial Insurance business and underwriting, pricing, referrals, review of policy wordings and product enhancements
- Digitalisation savviness
- Portfolio Management
- Knowledge of distribution channels structure and good interpersonal liaison with them
- Good understanding and experience in Singapore Property & Casualty market
