Regional Underwriter

3 weeks ago

Pune, India Bajaj Allianz General Insurance Company Full time

:

- 1. Risk Assessment and Underwriting
- Underwriting decisions based on underwriting authority up to INR 150 crore and individual policies/programs as large as INR 300 crore
- Provide technical inputs and advisory to the market on emerging risks and changing scenarios
- Review technical, highly complex, large and inherently risky proposals
- Evaluate proposal thoroughly considering past claims/cases and assess conformance with underwriting guidelines
- Conduct 360 degree review of risks along with any associated loss ratio; decide on standard terms and conditions for the proposal
- Arrive at the quotes to covert large accounts with substantial premiums in our favour
- 2. Premium Growth and New Client aquisition
- Develop profitable relationships with broking houses and IMDs
- Negotiate terms & Ensure presence on large accounts with high limit deployment
- Advise clients and IMDs on products and covers
- Visit the locations and meet major IMDs; understand problem areas and issues / concerns
- Provide guidance, if required and resolve any issues / concerns from IMDs
- review performance of channels, brokers and IMDs
- 3. Projects / Special Initiatives
- Take up special projects / initiatives aimed at premium growth or strengthening the organizational processes & systems
- 4. Product Training
- Drive implementation of various training efforts in case of new / existing product launch in terms of premium calculation; product nuances, etc.; clarify doubts and resolve concerns, if any
- Assess areas of improvement amongst the IMDs and provide effective training to them; address development issues / concerns and enable them to drive sales for the organization in an effective manner
- Training Content Development for various training programs to be conducted

**MAJOR CHALLENGES**

Identifying profitable areas of opportunities in a highly competitive market

Complex products each having its own unique dimensions, risks, triggers and underwriting principles (often considered as multiple lines by few of our peer companies e.g. casualty lines, financial lines)

Very complex structured layer wise policies including multiple stakeholders (brokers, reinsurers, reinsurance brokers, competition) that makes both relationships and decision making complex & knowledge intensive

Limited historical data and pre-defined underwriting models available thus increasing dependency on underwriting knowhow and ability to continuously learn

Fast evolving segments & risk landscape require rapid learning and development

Ensuring quality and TAT given large volumes

Systems are primitive and require extensive involvement to ensure correct issuance

**Department**
:
West

**Open Positions**
:
1

**Skills Required**:
:
Industry Understanding & Competitive Awareness; Product Knowledge; Customer Relations; Sales Execution

**Location**
:
Pune, Maharashtra, India

**Education/Qualification**
:
Graduate/Post Graduate

**Desirable Skills**
:
1. Good communication skills. 2.Flexible & adaptable to change. 3.Well versed with MS Office. 4.Should have good analytical and problem-solving skills. 5.Should be aware of the Local language.

**Years Of Exp**
:
7 to 10 Years

**Posted On**
:

- 08-May-2023**Designation**
:
Regional Underwriter

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