Underwriting and Placement

2 weeks ago


Bengaluru, Karnataka, India ABC - Aditya Birla Insurance Brokers Full time

Hi,

We are looking for someone with an experience of 5-6 yrs into EB & Non EB placement & underwriting from Insurance Broking . Should be good in insurer negotiations.

Candidates from Bangalore or experienced in Bangalore insurance market would be preferred.

Location : BANGALORE

You can share resumes at

Quotes and Placement Management for New Business & Renewals

Keep abreast with the changes in regulatory guidelines, and their impact on the various Lines of business

Get all the required data from the sales team for understanding the client context and analyzing their requirement (eg. historical policy documents, claims MIS, premium amount, etc.)

Accompany the sales team to present the analysis findings to the client, as required

Carry out in-depth gap analysis for all proposals, and share a detailed report on the same with the sales team

Study the proposal documents, and share insights and value-additions with sales teams to help them pitch for the business

Liaise with the risk management team to get the risk assessment report, if any

Collaborate with the sales team to identify insurance companies to float the request for quotations (RFQ) on the basis of the Line of Business

Float request for quotations (RFQs) to these insurance companies

Liaise with the sales team to get any additional information to build the insurers' confidence in or as requested by the insurers' underwriters

Liaise with insurers for providing clarifications/query resolution

Leverage relationship with insurance companies to get competitive quotes in a timely manner

Prepare Quotes Comparison Reports (QCR) along with useful insight for the client, and share with the sales team

Share changes in the terms or negotiate with the insurer based on the client feedback received from the sales team

Prepare the placement slip with the final terms, premium amount and sum insured with the insurer based upon the sales teams' confirmation

Share the risk held cover letter issued by the insurer in the interim with the sales team

Scrutinize the policy document shared by the insurer, and share observations with them in case there are deviations

Share the final policy document with the sales team

Document client feedback received from the sales team in cases where business was not won

Follow the set TATs for all documentation

Key Stakeholder Relationship Management

Build and maintain relationships with key stakeholders at the insurance companies to ensure competitive quotes are received in a timely manner

Visit insurance companies regularly to ensure continuous engagement with different stakeholders

Audit, MIS & Reporting

Enter RFQs and proposal details (eg. client name, policy details, dates of activities involved etc.) into the Quote Register database daily

Generate reports for analysis (eg. TAT adherence reports, Hit Ratio Analysis etc)

Maintain Business Report.

Share status updates with the Head – Placement

Share information and documentation with auditors, as required, and resolve queries



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