Insurance Underwriter

Job Title: Underwriter / Placement – General Insurance Broking

Department: Placement / Corporate Broking

Location: Andheri West, Mumbai

Reporting To: Chief Operating Officer

Role Overview:

The Underwriter / Placement Executive will be responsible for evaluating risks, coordinating with insurers for quotes, negotiating terms and premiums, and finalizing placement of insurance policies across various lines of business. The role requires strong analytical, negotiation, and communication skills, along with a good understanding of insurance products, market practices, and regulatory requirements under IRDAI.

Key Responsibilities:

1. Risk Evaluation & Underwriting Support

• Assess client risk profiles and prepare underwriting notes for submission to insurers.
• Review proposal forms, claim history, risk inspection reports, and other relevant data.
• Ensure that all underwriting submissions are technically sound and compliant.

2. Market Engagement & Placement

• Engage with multiple insurers to obtain competitive quotes.
• Negotiate terms, coverage enhancements, deductibles, and premium rates.
• Conduct comparative analysis of quotes and recommend the best option to the business / client servicing team.
• Maintain strong relationships with insurance company underwriters and product managers.

3. Documentation & Policy Issuance

• Review and verify draft policy wordings, endorsements, and terms before issuance.
• Coordinate with insurers for timely issuance of policies and endorsements.
• Ensure proper documentation as per IRDAI and internal audit requirements.

4. Product Knowledge & Market Intelligence

• Stay updated on market trends, new insurance products, and underwriting appetite of insurers.
• Suggest tailor-made insurance solutions based on client industry and exposure.

5. Coordination & Support

• Work closely with business development, claims, and servicing teams for smooth policy placement and renewal.
• Support renewal strategy preparation through claims analysis and market feedback.

Desired Candidate Profile:

• Education: Graduate / Postgraduate in any discipline. Additional qualification like Licentiate / Associate / Fellowship from III (Insurance Institute of India) preferred.
• Experience: 2–8 years of experience in General Insurance (Corporate Broking / Insurer Underwriting).
• Technical Knowledge:
• Strong understanding of Property, Marine, Liability, Engineering, and Group Health products.
• Ability to interpret policy wordings and endorsements.
• Skills:
• Excellent negotiation and communication skills.
• Analytical and detail-oriented.
• Proficient in MS Excel, PowerPoint, and email correspondence.

Job Type: Full-time

Pay: ₹216,975.46 - ₹700,091.61 per year

Benefits:

• Cell phone reimbursement

Work Location: In person