Insurance Underwriter

Company Description

Accurate is a premier Insurance Consulting and Risk Advisory firm, known as a leader in Employee Benefits Consultation within the insurance sector. We deliver comprehensive Risk Management, Risk Mitigation, and Insurance Placement solutions tailored to meet the complex and evolving needs of our clients. Our end-to-end, integrated services span the entire insurance lifecycle, from strategic advisory and program design to implementation, ongoing management, and optimization. Our holistic approach ensures clients receive customized risk solutions and value-driven insights to enhance operational resilience and support long-term business objectives.

To evaluate and underwrite motor insurance risks for retail and corporate clients through comparative analysis, ensuring accuracy, profitability, and compliance with underwriting and regulatory guidelines while supporting the sales and operations teams.

Key Responsibilities:

1.       Assess motor insurance proposals (private car, two-wheeler, commercial vehicles, fleet policies, etc.) to determine risk and appropriate coverage.

2.       Analyse vehicle type, usage, IDV (Insured Declared Value), NCB, and previous claims to prepare accurate quotes.

3.       Recommend appropriate premium rates and policy terms as per insurer guidelines.

4.       Identify potential risks and suggest underwriting measures or special terms if required.

5.       Obtain and compare quotations from multiple insurers through portals or direct communication.

6.       Prepare comparative statements and recommendations for clients.

7.       Support sales teams in providing competitive and technically sound quotations.

8.       Ensure timely issuance of policies and endorsements after validation of documents.

9.       Track renewals and support renewal processing with updated risk details.

10.  Review claim history and suggest suitable insurer or coverage changes.

11.  Maintain high retention levels of existing motor portfolios.

12.  Liaise with insurance companies for quote negotiations, approvals, and special underwriting cases.

13.  Coordinate with internal teams (sales, operations, claims) for smooth client servicing.

14.  Provide technical inputs for client queries and dispute resolution.

15.  Ensure all underwriting documents and client records are maintained accurately.

16.  Adhere to company policies, IRDAI guidelines, and insurer standards.

17.  Maintain confidentiality and data integrity at all times.

Key Skills & Competencies:

1.       In-depth knowledge of motor insurance products and rating parameters.

2.       Strong analytical and negotiation skills.

3.       Accuracy and attention to detail.

4.       Effective communication and coordination abilities.

5.       Proficiency in MS Excel, insurance portals, and motor rating tools.

Qualifications & Experience:

1.       Graduate / Postgraduate in Insurance, Finance, or related field.

2.       2–5 years of experience in motor underwriting (insurance broker or insurer side).

3.       Familiarity with digital insurer portals and motor policy documentation.

Performance Indicators (KPIs):

1.       Accuracy of risk assessment and quotations.

2.       Quote turnaround time (TAT).

3.       Retention ratio for renewals.

4.       Client and insurer satisfaction levels.