Underwriter Lead

Due to business growth, we are looking for an experienced Underwriting Lead to join our dynamic team. This position provides an exciting opportunity to leverage your underwriting and actuarial expertise in assessing and managing insurance risk. You will play a crucial role in performing complex analyses and offering strategic insights that guide decisions on pricing, product design, and risk management.

Position Responsibilities and Accountabilities:

1. Underwriting and Risk Assessment:

• Provide expert guidance and solutions by addressing underwriting queries and collaborating with account managers and partners to assess and manage risk effectively.
• Ensure compliance with policies, legal requirements, and industry regulations.
• Develop and maintain underwriting guidelines to ensure consistency and efficiency in decision-making.

2. Actuarial Analysis, Pricing, and Modelling:

• Scale best practice actuarial and analytical techniques to enhance reporting and meet various business needs.
• Collaborate with data teams to create actuarial datasets for modelling and monitoring, ensuring data is automated, reconciled, and seamlessly available for the Appointed Actuary.
• Troubleshoot increases in claims costs and identify core drivers for correction.
• Design and build analytical and portfolio monitoring packs to provide insights into portfolios.
• Develop and maintain models for technical reviews of direct portfolios, recommending pricing and product changes to improve growth and profitability.
• Monitor and adjust rates to maintain profitability and competitiveness.

3. Product Development:

• Monitor competitor products and identify opportunities for product development.
• Ensure compliance with Product Design and Distribution Obligations.
• Estimate the costs of any product changes through technical analysis.

4. Stakeholder Relationships:

• Serve as a point of contact for account management, providing support with partner and underwriting referrals.
• Act as a liaison with the finance team to support financial reporting.
• Mentor stakeholders and teams to build and deliver impactful data and insights.
• Collaborate with stakeholders and cross-functional teams to design and price new insurance products.
• Present findings and recommendations to senior management and stakeholders.
• Prepare and present reports and findings to management and regulatory authorities.

Requirements:

• Proven experience in underwriting, actuarial analysis, and portfolio management.
• Strong expertise in predictive modelling, statistical analysis, and technical skills (e.g., SAS, Python).
• Exceptional accuracy, analytical and problem-solving abilities, with strong communication and reporting experience.
• Ability to work independently and as part of a collaborative team.
• Relevant professional qualifications in Actuarial Studies, Statistics, Mathematics, or a related discipline.
• Strong understanding of underwriting principles, including property and liability risks, and the ability to analyze risk profiles and determine appropriate policy coverage.

Responsibility

• Underwriting Risk Review:
• Review insurance applications related to property and liability risks, such as homeowners, commercial property, or general liability policies.
• Analyze applicant information, including property details, occupancy, claims history, and other relevant documents.
• Determine appropriate coverage limits, deductibles, and premium rates based on the applicant's risk profile and industry standards.
• Collaboration & Communication:
• Collaborate with insurance agents and brokers to gather additional information, clarify details, and negotiate terms.
• Ensure compliance with company policies, industry regulations, and legal requirements by following established underwriting guidelines.
• Record Maintenance & Reporting:
• Maintain accurate records of underwriting decisions, correspondence, and supporting documents.
• Organize and manage underwriting files to ensure easy retrieval and reference.
• Create and maintain internal reports, providing clear and actionable insights to stakeholders.
• Collaboration with Onshore Counterparts:
• Work closely with onshore teams to ensure smooth workflow and alignment across regions.

Preferred Qualifications:

• Candidates with AU/AINS/CII/CPCU certifications only can apply.