Policy Analyst I

About us:

We are a highly successful 190-year-old, Fortune 500 commercial property insurance company of 6,000+ employees with a unique focus on science and risk engineering. Businesses worldwide trust our expertise to protect their assets, relying on our comprehensive risk assessments and robust, engineering-based insurance solutions to safeguard against fire, natural disasters, and other perils. Serving over a quarter of the Fortune 500 and major corporations globally, we deliver data-driven strategies that enhance resilience, ensure business continuity, and empower organizations to thrive.

FM India is a strategic location for driving our global operational efficiency. Our presence in India allows us to leverage the country’s talented workforce and advance our capabilities to serve our clients better. We have diverse corporate functions that emphasize research, advanced technologies like AI and analytics, risk engineering, research, finance, marketing, HR, etc. working together to provide innovative solutions and nurture lasting relationships – from co-workers to clients.

Role Title: Policy Analyst I

Position Summary:

This position is responsible for reviewing insurance products to ensure adherence to corporate, regional, and quality requirements. This is the first of three levels within this job family. The Policy Analyst demonstrates a thorough understanding of insurance products, underwriting standards, and legal requirements within a global landscape. This role handles inquiries and reviews of moderate complexity and performs with limited oversight.

Job Responsibilities:

• Approve insurance products, including policies and invoices for adherence to corporate requirements, local best practices, underwriting intent and quality standards. Modify the policy within a pre agreed authorized level in order to ensure contract certainty without modifying the intent of the policy ONLY on standard wording.
• Collaborate seamlessly within Global Insurance and Program Services team environments. Develop and maintain effective relationships and encourage a strong level of teamwork with Client Services, Global Services and Staff Departments to ensure a consistent and effective approach that fully supports objectives related to insurance product delivery and quality.
• Review and approve premium allocations for licensed territory adequacy, and/or WorldReach Partner insurance and reinsurance slips for alignment with FM Global's instruction and intent.
• Maintain up-to-date technical knowledge of underwriting and regulatory practices.
• Monitor business processes and insurance products to identify performance concerns.

Skill and Experience:

• Degree & 2 to 3 years of experience required to perform essential job functions.
• Additional Experience Qualifier (optional): Preferably in the financial/insurance industry. A combination of education and work experience will be considered.
• Good technical underwriting knowledge, decision making skills and knowledge of internal Underwriting and Processing systems. Strong decision-making and problem-solving skills Collaboration applications (MS Teams, MS Office review features)
• Excellent communication skills with the proven ability to give and receive constructive feedback Proficiency in English is required. Multiple language skills preferred.

Must Have Skills:

• Proficient in Microsoft 365 and ability to learn and understand proprietary business systems and workflow tools.
• Prefer insurance designation, such as ARM, CPCU or financial/insurance industry experience.
• In-depth technical underwriting knowledge, decision making skills, understanding, and application of internal Underwriting and Processing systems. Knowledge of local regulatory guidelines and insurance product standards.
• Ability to work under pressure and manage multiple tasks and priorities
• Strong analytical ability
• Strong decision-making and problem-solving skills - ability to research issues, identify problems, maintain effective working relationships and identify the internal and external dynamics that impact the work of the organization.
• Ability to focus on initiating ideas and implementing internal strategies through coordination of “hands-on” training and support that will capitalize on new technology.
• Proficiency in English is required.

Education and Certifications:

• Bachelor's degree or equivalent.

Work location: Bengaluru