Speciality Lines Underwriter

PRINCIPAL ACCOUNTABILITIES Risk Assessment and UW- Evaluate proposal thoroughly considering past claims / experience and assess conformance with underwriting guidelines; seek more information/clarification on proposals, with customers, if required Conduct 360-degree review of risks along with any associated loss ratio, accordingly set terms and conditions for the proposal. Scrutinize the proposals received and assess adherence to the norms, guidelines and if the premium considered is correct and accounts for associated risk. Prepare quotes, discuss the same with the superior, if required. Provide clarifications to internal/external customers wherever required. Audit Conduct sample audits across the zones to check for non-adherence to company guidelines, seek clarifications from the team and draft the report; share the report with the National Head. To monitor the various corrective measures suggested in view of audit findings by competent authority. Assess areas of improvement by taking feedback from IMDs and providing them with solutions for ease of operations. TAT Accountability To release all quotes/E-Request/Approvals within the TAT specified By the Cos. System Approvals To ensure policy issuance is done as per approved quotes within the defined TAT. All E-Request are approved as per set guidelines within defined TAT. 5. IT Developments. Development of New Products including their quoters in System as per approved product. Development of various products for online quote generation and external policy issuance. Monitor improvement and upgradation of system for any Existing Products in line with revised filing with regulator. MAJOR CHALLENGES Dependency on internal stake holders for development of New products and amendments in existing products. To arrive at a Consensus between internal sales team / customers –on price and coverage’s DECISIONS Giving sign off for product development in system. All decisions (quotes, terms and condition, etc.) within DOA Decision for proposals for Affinity/Card/SCP/Bankers Indemnity policies . Decision for discount above 95% in all the Misc proposals Upto Sum Insured 200cr Decision for proposals having adverse losses. INTERACTIONS Internal Clients Roles you need to interact with inside the organization to enable success in your day to day work Sales- To assess risk of new business, interaction/negotiation regarding underwriting guidelines Operations- For policy issuance IT Team for system developments. External Clients Roles you need to interact with outside the organization to enable success in your day to day work Agents Bank Partners DIMENSIONS Other Dimensions (FY 21) Retaining Misc. renewals. Identifying potential loss-making clients, reducing losses in these client by adequate pricing/deductibles and/or weeding out such policies Data Analysis for better decision making Educational Qualifications SKILLS AND KNOWLEDGE Qualifications Graduate or Post Graduate Qualifications in Insurance will be an added advantage (eg: Associateship of I.I.I.) Work Experience Minimum 3--5 years of work experience in underwriting for Misc Insurance IT knowledge preferrable. Show more Show less