Motor Insurance Underwriting Specialist

6 hours ago

Mumbai, Maharashtra, India beBeeInsurance Full time ₹ 1,20,00,000 - ₹ 2,00,00,000

Job Title: Motor Insurance Underwriting Manager

Job Summary">
  • The Motor Insurance Underwriter Manager is responsible for overseeing the motor insurance underwriting process, ensuring consistent evaluation of risks in line with company policies and regulatory standards.

Key Responsibilities:

  1. Underwriting Management:

  • Review and assess motor insurance applications to ensure adherence to risk appetite and guidelines.

  • Approve or decline policies, ensuring underwriting decisions are financially sound and customer-centric.

Risk Assessment:

  • Analyze and evaluate motor risks based on various factors (vehicle type, driver history, etc.).

  • Develop and refine underwriting guidelines, policies, and tools.

  • Ensure compliance with internal underwriting standards and local regulations.

Portfolio Management:

  • Monitor and evaluate the performance of the motor insurance portfolio.

  • Identify trends, recommend adjustments to pricing, and manage risk exposure to ensure profitability.

  • Work closely with actuaries, product managers, and the claims department to improve underwriting outcomes.

Team Leadership:

  • Mentor, coach, and train junior underwriters to ensure development of technical skills and decision-making capabilities.

Business Development Support:

  • Work collaboratively with sales, distribution, and marketing teams to support development of motor insurance products.

  • Provide input on market trends and competitor activities to develop competitive underwriting strategies.

Process Optimization:

  • Drive process improvements in underwriting workflows, automation, and customer service response times.

  • Implement best practices to enhance operational efficiency.

Requirements
  • A Master's degree is a plus in Business, Insurance, Finance, or a related field.
  • Professional certifications in insurance are highly recommended.
  • Minimum 4 years of underwriting experience in motor insurance, with at least 3 years in a management or leadership role.
  • Strong knowledge of motor insurance products, underwriting guidelines, and risk management principles.
  • Skills: strong analytical and decision-making skills, excellent communication and interpersonal skills, proficiency in underwriting software and Microsoft Office tools like Excel, PPT.
  • Ability to work under pressure and meet tight deadlines.
  • Knowledge of regulatory frameworks and compliance standards in motor insurance.

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