Area Underwriting Manager- Commercial

2 days ago

Mumbai, India Sbi General Insurance Full time

Job Description

Role & Responsibilities

Underwriting Strategy

- Liaison with regional Underwriter to devise circle-level underwriting strategy to maintain defined loss ratio targets for allocated commercial lines LOB.
- Interact with other stakeholders at circle level, specifically the sales team, to understand the objectives set by them at the area level.
- Analyze past trends and market dynamics to provide strategic inputs regarding product mix, industry, and geography, offering necessary insights to the regional underwriting manager.
- Ensure achievement of targeted loss ratio and planned business outcomes; take timely corrective and pricing measures to create, enhance, and maintain sustainable profitability objectives.
- Conduct portfolio analysis on a quarterly basis to update all stakeholders about outcomes and corrective actions. Regularly monitor Branch/Channel level GWP, profitability, and LOB mix, taking corrective steps if needed.

Business Review

- Underwrite and approve quotes based on authority, adhering to risk selection criteria and adequate pricing to achieve GWP targets and prevent claims leakage.
- Monitor team performance to track achievements and identify anomalies, ensuring adherence to regulatory and internal underwriting guidelines.
- Ensure team adherence to the defined portfolio strategy to achieve business goals.
- Coordinate with Sales, Intermediaries, and Clients to evaluate risk exposure and viability with suitable terms and pricing.
- Review claims reports and business data regularly to track achievement of topline and bottomline targets.

Stakeholder Management

- Meet intermediaries (Agents, Brokers, Banks) to understand business potential, communicate the company's underwriting philosophy, and educate them about targeted opportunities based on products.
- Periodically interact with intermediaries to discuss performance and suggest improvement strategies.
- Follow up with customers to evaluate their insurance programs and suggest improvements in product coverage and exclusions, ensuring high customer satisfaction through transparency.
- Guide intermediaries on potential business proposals and improving loss ratios (LR%).
- Interact periodically with the sales team to understand and resolve issues.
- Collaborate with claims and operations teams to exchange feedback and suggestions.

Preferred Knowledge

- Insurance qualification equivalent to AIII and/or above.
- Intimate knowledge of the operational environment at Branch, Region, and HO levels.
- Strong communication and organizational skills.
- Previous supervisory and management experience.
- Knowledge of local industry developments and trends.

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