Head - Underwriting & Placement

Job Title Head – Underwriting & Placement Basic Qualification Graduation/MBA & Fellowship

Department Underwriting Sub Department

Location HO Experience 20+ years

L1 Reporting Manager Director L2 Reporting Manager Managing Director

Job Summary

The Head – Underwriting & Placement will manage underwriting activities for high-value clients , focusing on risk assessment and profitable outcomes. Responsibilities include identifying policy gaps, managing RFQs, securing competitive quotes, business developments and delivering accurate policies. The role involves collaboration with internal teams and insurers to drive growth, maintain relationships, and ensure timely turnaround. Ensure compliance with IRDAI regulations, optimize processes, and provide regular MIS reporting to management.

Job Responsibilities

1. Quote Procurement:

• Manage all the requisitions of clients with high value .

• Analyse the client’s existing policy and identify missing coverage clauses.

• Coordinate with external investigators to conduct physical inspections of client assets (e.g., factories) and obtain investigation reports.

• Highlight policy gaps and present a gap analysis report to the client.

• Prepare RFQs, including existing policy details, required add-ons, and the last three years’ claim history.

• Submit RFQs to insurance companies to gather competitive quotations.

• Prepare a detailed comparison sheet of all received quotes from insurers.

• Present the comparison to the client, ensuring accuracy and alignment with their needs.

• Ensure high-quality quote recommendations to achieve a maximum conversion rate.

2. Underwriting Strategy and Quality Control:

• Monitor underwriting operations to ensure policies are accurately reviewed, gaps identified, and proper endorsements made.

• Implement risk assessment strategies for large or complex insurance cases.

• Analyse business performance and ensure profitability in underwriting activities through effective pricing and cost management.

• Verify the policy received from the insurer against the original RFQ to ensure all coverage requirements are fulfilled.

• Share the validated policy with the client, ensuring zero flaws before delivery.

• Manage endorsements for missing terms/conditions (paid or free, depending on the case).

• Coordinate policy cancellations if significant errors (e.g., incorrect sum insured) are found.

• Share the final quote, KYC documents, NEFT/Cheque docket, and client mandate with the insurer for policy issuance.

• Maintain RFQ and QC trackers to monitor the status and progress of policies.

3.Business Development along with Sales Team :

• Build and nurture relationships with key corporate clients, insurers, and other stakeholders.

• Lead pitches, negotiations, and client presentations for securing large accounts with Sales Team.

• Develop and manage a robust sales pipeline to ensure consistent business acquisition.

4.Client Solutions:

• Oversee the design and delivery of tailored insurance programs for corporate clients, including employee benefits, property & casualty, liability, and other lines of business.

• Ensure high-quality advisory services to clients, aligning insurance strategies with their risk management objectives.

5. Business Hygiene & Relationship Management:

• Maintain strong relationships with both internal departments and external stakeholders to drive business growth and ensure faster TAT and favourable quotes.

• Conduct at least two visits per week to insurance companies for better collaboration and to minimize delays in receiving quotations.

• Keep a record of all visits and interactions with insurers to improve coordination and outcomes.

• Regularly engage in meetings and discussions with sales teams, clients, and insurance companies to finalize profitable deals.

• Participate in client meetings to support sales teams with technical insights and underwriting expertise.

• Maintain high business standards through presentable and organized processes.

6. Product Development & Innovation

• Create innovative and customised products as per clients requirement.

7. MIS & Compliance

• Ensure timely submission of MIS reports and other operational data to management.

• Update the RFQ tracker daily to ensure smooth tracking and follow-ups.

• Record all QC activities on the same day for transparency and process control

8. Process Optimization and Compliance

• Oversee the implementation of underwriting processes and ensure all procedures are followed as per company and regulatory standards.

• Ensure full compliance with IRDAI regulations and internal audit requirements.

• Identify areas for process optimization to increase operational efficiency and effectiveness.

• Achieve GWP (Gross Written Premium) annually across all insurance segments

Essential Requirement

MUST HAVE GOOD TO HAVE

Experience: • 20+ years in Underwriting profile and Insurance domain Experience: • 15+ Years of experience in Management managing a team and sole responsible 

Education: • Graduation + Fellowship + BPQ Education: • Engineer + Fellowship + BPQ

Skills: • Underwriting Expertise in EB & Non EB

• Quote & RFQ Management 

• Analytical Skills

• Negotiation Skills

• Relationship Management

• PAN India Insurance Relations

• Decision making

• Leadership and Team Management

• Communication Skills Skills: • Leadership experience

• Financial Acumen 

• Budget Management

• Problem Solving

• Project Management

• Conflict resolution

• Audit experience

• Manpower retention

Benefits

• Competitive salary offering

• Comprehensive training and ongoing professional development

• Opportunity to contribute to the growth of a leading insurance Broking company

• Insurance – GTL policy

• Collaborative and supportive work environment

• Opportunities for professional development and growth

• Promotes Work-Life Balance

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