Manager - Underwriting

1 day ago

Pune, Maharashtra, India Murugappa Group Full time ₹ 6,00,000 - ₹ 18,00,000 per year

Position : Manager - Underwriting ( Non-Motor and SME products)

Company : Cholamandalam General Insurance

Location : Pune

CTC Range : Upto 10 LPA

Age Criteria : Upto 35 Years

Education : Bachelor's degree in a related field such as finance, economics, or business. Professional insurance certifications are a plus.

A senior underwriter for non-motor and SME products assesses and prices risks for commercial policies to ensure profitability and portfolio growth. They handle complex cases and large accounts while mentoring junior team members. This role requires a strong understanding of commercial non-motor products and market dynamics.

Core responsibilities

  • Underwriting and risk analysis: Independently underwrite and evaluate complex and high-value non-motor insurance proposals for small and medium-sized enterprises (SMEs). This includes assessing property, engineering, marine, liability, and other specialty risks.
  • Decision-making and pricing: Determine the appropriate premiums, terms, conditions, and coverage for policies within a delegated authority. Make decisions on whether to accept, decline, or modify risks.
  • Portfolio management: Monitor the performance and profitability of the SME non-motor portfolio. Analyze loss trends, manage risk exposure, and ensure healthy growth.
  • Stakeholder relations: Build and maintain strong relationships with brokers, agents, and clients. Negotiate terms and conditions to secure new and renewal business.
  • Compliance and quality control: Ensure all underwriting activities adhere to the company's guidelines and regulatory requirements. Conduct audits to maintain high quality standards.
  • Team leadership and mentorship: Lead, mentor, and guide junior underwriters and associates. Provide training and support to enhance their technical and professional skills.
  • Strategic support: Contribute to the development and implementation of new products and underwriting strategies. Provide market intelligence and analysis to inform business objectives.
  • Reporting: Generate accurate and timely reports, dashboards, and management information system (MIS) data for senior leadership.

Essential skills and qualifications

  • Experience: 2+ years of experience in non-motor underwriting, with a strong focus on SME commercial lines.
  • Technical expertise: In-depth knowledge of commercial non-motor products, risk assessment, pricing, and industry regulations.
  • Analytical skills: Excellent ability to evaluate complex information from multiple sources and perform financial analysis.
  • Decision-making: Proven track record of making sound and decisive judgments under pressure.
  • Communication: Strong verbal and written communication skills for interacting with clients, brokers, and internal teams.
  • Negotiation: The ability to effectively negotiate terms and conditions to balance profitability and business needs.
  • Leadership: Demonstrated leadership and mentoring abilities to develop junior staff.
  • Attention to detail: Meticulous approach to reviewing policy applications and documentation.

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