Underwriter / Senior Underwriter, Financial Lines

We are looking for Underwriter / Senior Underwriter, Financial Lines, who will be based in Singapore. You will be reporting to the Head of Financial Lines, Southeast Asia.

Job Purpose

Underwrite profitable new and renewal business to meet LoB targets. Negotiation of participation, pricing and terms and conditions. Ownership of accounts/clients. Develop and maintain relationships with brokers and clients.

Key Responsibilities

Underwrite Profitable Business

• Underwrite new and renewal accounts to meet top and bottom-line targets.
• Negotiate participation, pricing and terms and conditions with brokers.
• Proactively manage capacity.
• Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LoBs).

Underwriting Approach and Compliance

• Underwrite in line with LoB governance framework - e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules, and Principles.
• Ensure contract certainty is achieved on all accounts at time of inception.
• Ensure utilisation of global pricing tools.
• Ensure placing and binding of FAC Reinsurance prior to policy inception.

Policy Documentation and Administration

• Ensure accurate policy documentation issued to broker (where Allianz Commercial responsibility to do so) or broker has issued documentation (where broker responsibility).
• File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled.
• Proactively support completion of policy administration and credit control processes.

Market Management

• Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary).
• Proactively liaise with Marketing & Comms on market management initiatives.

Relationship Management

• Positively represent Allianz Commercial externally to the market.
• Proactively drive involvement of functional areas in Underwriting process, including e.g., Marketing&Comms, ARC, Claims, Operations.
• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g., risk managers).

Key Experience

• Minimum 3 to 5 years of proven track record in Underwriting profitable business in LoB. Good understanding of LoB products and portfolio.
• Demonstrable, established relationships with brokers at peer group level.
• Good understanding of regional / local LoB insurance markets and competitor landscape.
• Understanding of legal and regulatory framework.
• Experience working in complex, global matrix organization.

Required Education

• Preferably a degree in Economics, Law, or other appropriate discipline.
• Completion of professional insurance qualification (e.g., CII).

Required Skills

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB.
• Pricing and Market management: Analyse current performance against benchmarks applying how the market operates and functions, the business needs and customer needs.
• Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings.
• Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
• Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally. Ability to "sell" an improvised or prepared audience winning story
• Influencing skills: Ability to persuade and motivate others to act, without executive authority
• Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
• Fluency in English and ability to negotiate in local language will be a plus.
• A basic understanding of artificial intelligence (AI) and its potential applications in business is essential.

99725 | Underwriting | Professional | Non-Executive | Allianz Commercial | Full-Time | Permanent