Technical Head Commercial Underwriting (West II)

JOB PURPOSE:

Decide about terms, conditions, pricing for business arising out of geographies (almost 90% of business) that require market insights, technical assessment of risk parameters and building a robust portfolio that delivers underwriting profits. Produce data and information that shapes underwriting guidelines based on market practices as well as underwriting guidelines for all non-motor products across both corporate and retail channels to ensure selection of profitable business in minimum turnaround time, keeping loss ratios under control.

PRINCIPAL ACCOUNTABILITIES:

1. Business profitability maintenance

• Participate in creation of underwriting guidelines for various type of conditions under which the risk should be accepted on various non- motor products/ policies (such as property, marine etc.) to maintain profitability of the company


• Provide guidance to the team in conducting assessment of proposals/ business opportunities to ensure genuine/ profitable business is acquired to keep claims ratio in check


• Analyze the potential business opportunities and check their applicability with reinsurance treaty to assess the maximum amount of Risk that can be underwritten (including the proportion of risk to be passed to reinsurer)


• Ensure assessment of business opportunities happens in timely manner so that business can be converted in minimum turnaround time

1. Capability enhancement

• Conduct training for team to enhance their technical knowledge of underwriting guidelines and equip them with capabilities to apply those guidelines in various business scenarios


• Provide training to internal stakeholders (sales team and other business partners) and external stakeholders (agents, brokers and third party vendors) to enhance their knowledge of USPs associated with various products and processes

1. Business and operational support

• Support sales team/ agents/ brokers by providing them with products information required to drive high sales


• Provide ideas for design of new products or upgrade of existing products basis understanding of market requirements to support in driving growth of business


• Identify and recommend improvement opportunities in underwriting processes (such as improvement of TAT, introduction of rule-based underwriting where possible etc.) to increase operational efficiency.

1. Relationship management

• Interact with various stakeholders (sales team, compliance team, products team, agents and brokers etc.) to discuss various products and risk to be undertaken in compliance with regulatory requirements


• Build and maintain relationship with clients to explain and assure them of BAGIC s value proposition, various products and risk coverage of their business

1. Team development

• Participate in selection process to identify the right talent for positions within the team


• Establish individual performance expectations and evaluation metrics for team and regularly review their performance


• Identify and create development opportunities for team members to enhance domain knowledge and develop underwriting expertise to drive growth in productivity


• Redundancy and second line planning for the team.

SKILLS AND KNOWLEDGE:

Educational Qualifications:

a) Qualifications


Master s in business administration and/or Bachelor s in Engineering

Fellowship in insurance

b) Work Experience

Overall 15+ years of experience with 10+ years in technical side of General Insurance business

Comprehensive understanding of insurance industry and underwriting guidelines practices.