Underwriting and Placement

Job Title:

Department:

Job Summary:

The Underwriting and Placement professional is responsible for evaluating insurance risks, preparing quote comparisons, negotiating terms with insurers, and ensuring optimal placement of insurance policies. The role requires a strong understanding of insurance products, underwriting guidelines, and insurer relationships to deliver the best solutions to clients while maintaining compliance with IRDAI regulations.

Key Responsibilities:

1. Underwriting & Risk Evaluation

• Assess risk exposures based on client data, risk inspection reports, and claim history.
• Review proposal forms and supporting documents for completeness and accuracy.
• Analyze and prepare underwriting notes and risk summaries for insurer submission.
• Recommend suitable coverage structures, limits, and deductibles aligned with client needs.

2. Placement & Negotiation

• Liaise with multiple insurers to obtain quotations and negotiate competitive terms.
• Prepare comparative statements (QCR) with detailed coverage analysis and pricing.
• Ensure timely issuance of quotes, placement confirmations, and policy documents.
• Build and maintain strong relationships with underwriting teams and marketing team at insurance companies.

3. Coordination & Documentation

• Coordinate with Business Development Managers (BDMs), Sales Teams, and Clients for data collection and clarifications.
• Ensure all underwriting submissions are accurate, complete, and documented.
• Track renewals, endorsements, and pending placements to ensure timely closure.

4. Compliance & Quality Control

• Adhere to IRDAI and internal compliance guidelines in all placement activities.
• Maintain records of communications, quotes, and insurer interactions for audit purposes.
• Review policy wordings and endorsements for accuracy and alignment with agreed terms.

5. Market & Product Knowledge

• Stay updated on insurer products, underwriting appetites, and market developments.
• Support management in product innovation, special schemes, and tie-ups with insurers.
• Provide feedback on market trends, rates, and competitor movements.

Key Skills & Competencies:

• Strong understanding of general insurance (Property, Liability, Marine, Engineering, etc.)
• Excellent negotiation and communication skills.
• Analytical mindset with attention to detail.
• Proficiency in MS Excel, Word.
• Ability to work collaboratively with internal and external stakeholders.

Qualifications & Experience:

• Graduate / Postgraduate in any discipline (MBA preferred).
• Minimum

  28 years

  of experience in underwriting and / or placement in Insurance Co or any Broking Co.
• Exposure to corporate and retail lines of business will be an added advantage.

Key Performance Indicators (KPIs):

• Turnaround time (TAT) for quote and placement.
• Accuracy of underwriting and documentation.
• Relationship management with insurers and business teams.

Contact Person - Ajay Dubey

Contact Number - 9326607662