Motor Underwriter

**JOB DESCRIPTION**

**Location**:Mumbai, Maharashtra 400018

**Job Title**: Motor Product &Underwriter Specialist(L6M/L5M)

**Dept**:Motor Product & Business IT

**Budget**:25 to 30 LPA

**1: Job Purpose Statement (Summarize in one/two statements why this job exists and the contribution makes to the overall business of the company).**
- Will be responsible for continuous review of existingmotor products and configure updates of the same.
- Bring new products/features by analyzing and assessing the market competition.
- Supporting Business in terms of IT & Digital platform initiatives and developing the premium rate engine/rule engine and responsible for implementation of the motor product & process for the entire cycle on various platform.
- Effectively implementing coverage, pricing, underwriting and other product solutions as per business requirement.
- Understands analytics and portfolio management techniques.
- Develop the technical maturity of the Motor business, by providing advice and support on Motor product, pricing and reporting best practices.
- Review defined metrics periodically and strategize to take appropriate actions in case of any irregularity or variance.

**2: Duties & Responsibilities ( List in the order of importance the duties & responsibilities of this job)**
- Liaise & review with insurance companies underwriters and product team to design, negotiate and execute Motor Product & guidelines.
- Assist in developing motor journey on various digital platform including the premium rate engine/rule engine for all segments of Motor Tariff.
- Review market price of motor insurance and work with various stakeholders and insurance companies to deliver competitive underwriting guidelines.
- Preparation of motor product policy templates,wordings, under writing guidelines, rating schedule & other relevant documents.
- Updating the various premium related masters like discounts, add-on rates, others post reviewing on various in-house digital platform - OEM/POSP/B2C/Others
- Analytics to Monitor the Motor Insurance Portfolio and to provide useful insights to improve overall performance in line with Motor Business Philosophy.
- Periodical review of premium rates and the underwriting guidelines in the light of the prevailing Insurers as well as performance of the Portfolio to ensure continuous enhancement.
- Responsible for development and integration of motor insurance product journey on various digital journey and manage overall product lifecycle from ideation to design, development, user acceptance etc.
- Provide analytics-based insights to help iterate on products to make it more customer centric and seamless digital experience
- Introduction of New Motor products & implementation with close coordination with internal & external stakeholders.
- Suggesting & co-creating new product mix (bundle add-on covers)as per the type of business model and class/segment of vehicle/geographies and innovative solutions to evaluate new products under the sandbox initiative.
- Exhibit a data-driven approach and accordingly provide feedback to respective stakeholders on portfolio & product. Reporting of portfolio health by tracking of loss ratios
- Development and atomization of various reports on Tableau by coordinating with IT as per the requirement.

**3: Job Requirements (Describe the educational requirements, suggested year and type of experience, nature and extent of skills/abilities required for the desired position).**

**Professional Qualification**

**Skills & Knowledge**

**Competencies**

**Preferred**:
Bachelor/Master’s Degree with additional certification in Insurance domain
- Minimum 8-10 + years of experience in management level of motor underwriting/product in non-life insurance industry
- Excellent understanding of technical underwriting, underwriting processes and portfolio management
- Comprehensive knowledge of Motor coverages, wordings and pricing methodologies
- Good knowledge of the Indian insurance market, market players and market segments including potential exposures
- Strong analytical skills with the ability to collect, organize, analyse, and publish significant amounts of information with attention to detail and accuracy
- Technical background to match the requirement & capability to deliver desired result within given time frame with available resources
- Having insurance domain knowledge, to help the business head to develop all the required insurance products individually and with the support of the team
- Sharp business acumen to drive and maintain strong relations with Insurers

**Salary**: ₹1,500,000.00 - ₹3,000,000.00 per year

Schedule:

- Day shift

**Experience**:

- Motor underwriting: 8 years (preferred)

**Speak with the employer**
+91 9727343321