Underwriting and Placement
1 month ago
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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