Insurance Underwriter

1 week ago

gurugram, India Genpact Full time

We are inviting applications– London Market/ Underwriting Ops/Delegated Authority Business


• Setting up Binding Authority contract with Contractual rules and aggregate limits on DUA tool

• Completing a Bordereau Questionnaire by mapping the bordereaux with relevant reporting standard using the DUA schema questionnaire

• Review of errors/ breaches and perform data enrichments within the DUA system

• Setting up Submissions, Processing of bookings, Endorsements, Renewals

• Reconciliation of the Premium and Claim amounts with the signing present on Syndicate and Commercial applications

• Logging of data quality issues into the query log.

• Working with the onshore team regarding a quality control review of issues as part of an onshore escalation process to underwriters

• Bordereaux standardization and Financial Reconciliation for monthly BDX spreadsheets

• Exposure to London Market (Syndicate & Company) is a must

• Knowledge of P&C, Specialty, Reinsurance, Claims and Underwriting services

• Working as per the TAT and SLA agreed for the business

• Maintaining customer’s services and Quality standards by adhering to client procedures and process requirements

• Manage team of 10-15 staff as per given service level targets

• Monitoring submissions of the monthly Bordereaux and chasing up any that are late

• Leading weekly/monthly/quarterly discussions on operations with client UW and company stakeholders.

• Understanding of risks faced by the function and the controls in place to manage and mitigate the risks

• Ensuring clarity around priorities and goals for the entire functional area

• Ability to function effectively in a team environment exercising good judgment

• Working with senior management and other peers for strategy development and execution planning

• Root Cause Analysis on escalations received

Qualifications we seek in you

Minimum qualifications:

• Graduate (in any discipline)

• Relevant work experience for London Market Insurance

• Should have wing to wing knowledge of the Underwriting lifecycle

• Must demonstrate and foster customer focus, teamwork, accountability, initiative and innovation.

• Fluent in English language- both written and oral

• Preferred Qualifications

• Any Graduate (Preferred - BSc/B Com)

• Knowledge of Binding Authority/ Delegated Authority Business for Coverholder

• Good Knowledge of MS Office, MRC, MRCE and Bordereaux.

• Provide technical support and bordereau processing assistance to other members of the team

• Be experienced in a technical insurance role, such as account handling, wordings or underwriting, is essential

• Be experienced in producing Binding Authority MRC Slips & Endorsements from scratch

• Excellent knowledge of binders process

• Very good problem solving skills & attention to detail.

• Ability to accurately interpret and compile information from a variety of sources and systems

Preferred qualifications:

• Insurance domain awareness

• Good knowledge of MS Office

• Preferred with certification on one of the streams i.e. CII London i.e. ALMI, FIT or Cert CII or equivalent or AINS, CPCU certification

• Knowledge of Bureau/Non Bureau market

• Knowledge of Binder, Lineslip and Consortium Processing

• Exposure to Reinsurance Market and it's types such as Prop and Non prop

• Exposure to Treaty and Fac Reinsurance

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