Business Development Manager

3 weeks ago

Navi Mumbai, Maharashtra, India Hipos Consulting Services LLP Full time
Business Development Manager

**Job Overview: Group Products Underwriting Lead**

We are seeking a skilled Group Products Underwriting Lead to join our team at Hipos Consulting Services LLP. As a key member of our underwriting team, you will be responsible for underwriting proposals according to the pricing and group underwriting guidelines of our company and documenting the rationale used for arriving at particular price and terms.

**Key Responsibilities:*

* Obtain all relevant information and data to enable understanding of client requirements and thorough risk assessment of proposal requests.
* Apply judgment in situations where data and information is not forthcoming from the client or broker to decide if missing data is absolutely necessary or can our company proceed with only available data and information.
* Apply judgment on the quality of data and information provided.
* Seek clarifications or make suitable assumptions where necessary.
* Underwrite proposals according to the pricing and group underwriting guidelines of our company and document the rationale used for arriving at particular price and terms.
* Engage operations, claims, compliance teams etc. if required to address specific non-standard requests from clients.
* If required, negotiate with reinsurers for facultative terms or to seek opinion on special risks.
* Create client-specific pricing models and proposals documenting client-specific risks and expected profitability.
* Escalate larger proposals or proposals where pricing or underwriting exceptions exceed own authority limits through the authorization matrix and document necessary approvals sought.
* Prepare accurate proposal letters which clearly document our company understanding of client requirement and our company terms for doing business.
* Explain features of proposal to sales as required. Provide justification when asked.
* Document feedback received from sales on proposals and the difference between terms offered by our company and the terms desired by client/broker.
* Develop, propose and justify alternative underwriting views to address cases where our company is at a competitive disadvantage on price or terms.

**Domain Support:*

* Conduct analysis of profitability and mortality experience for GTL line of business.
* Provide advice on technical matters to clients and internal teams of our company including sales and operations.
* Propose, explain and justify solutions to problems that have been raised.
* Provide technical support on risk management, underwriting and pricing of group business and products of our company.
* Review the technical content of special provisions and endorsements to Policy Contracts and certify it to be within the rules, guidelines and practice for our company group product.
* Prepare exception reports for submission to IRDA and obtain Appointed Actuary sign-offs.
* Assist in preparing documents for filing with regulator to launch new products or enhance existing offering.
* Update declared interest rates on system.

**Group Portfolio Management:*

* Review and analyze the reasons for our company winning or losing proposals - identify any insights and provide inputs for further decision making.
* Prepare and analyze group portfolio MIS on a monthly basis and present insights to senior management.

**Training and Self Learning:*

* Continuously update knowledge on new developments in the product or technical domain of group business in the market.
* Develop and maintain a thorough understanding of the group products of our company, their terms and pricing.
* Impart on the job training to new members in the team and share knowledge on various products between the team.

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