Underwriting and Placement

1 week ago

Mumbai, Maharashtra, India Landmark Insurance Brokers Full time ₹ 6,00,000 - ₹ 18,00,000 per year

Job Title: Underwriting and Placement

Department: Placement & Underwriting

Reporting To: Head Placement / Business Head

Location: Mumbai

Industry: Insurance Broking

Job Summary:

The Underwriting and Placement professional is responsible for evaluating insurance risks, preparing quote comparisons, negotiating terms with insurers, and ensuring optimal placement of insurance policies. The role requires a strong understanding of insurance products, underwriting guidelines, and insurer relationships to deliver the best solutions to clients while maintaining compliance with IRDAI regulations.

Key Responsibilities:

1. Underwriting & Risk Evaluation

  • Assess risk exposures based on client data, risk inspection reports, and claim history.
  • Review proposal forms and supporting documents for completeness and accuracy.
  • Analyze and prepare underwriting notes and risk summaries for insurer submission.
  • Recommend suitable coverage structures, limits, and deductibles aligned with client needs.

2. Placement & Negotiation

  • Liaise with multiple insurers to obtain quotations and negotiate competitive terms.
  • Prepare comparative statements (QCR) with detailed coverage analysis and pricing.
  • Ensure timely issuance of quotes, placement confirmations, and policy documents.
  • Build and maintain strong relationships with underwriting teams and marketing team at insurance companies.

3. Coordination & Documentation

  • Coordinate with Business Development Managers (BDMs), Sales Teams, and Clients for data collection and clarifications.
  • Ensure all underwriting submissions are accurate, complete, and documented.
  • Track renewals, endorsements, and pending placements to ensure timely closure.

4. Compliance & Quality Control

  • Adhere to IRDAI and internal compliance guidelines in all placement activities.
  • Maintain records of communications, quotes, and insurer interactions for audit purposes.
  • Review policy wordings and endorsements for accuracy and alignment with agreed terms.

5. Market & Product Knowledge

  • Stay updated on insurer products, underwriting appetites, and market developments.
  • Support management in product innovation, special schemes, and tie-ups with insurers.
  • Provide feedback on market trends, rates, and competitor movements.

Key Skills & Competencies:

  • Strong understanding of general insurance (Property, Liability, Marine, Engineering, etc.)
  • Excellent negotiation and communication skills.
  • Analytical mindset with attention to detail.
  • Proficiency in MS Excel, Word.
  • Ability to work collaboratively with internal and external stakeholders.

Qualifications & Experience:

  • Graduate / Postgraduate in any discipline (MBA preferred).
  • Minimum 28 years of experience in underwriting and / or placement in Insurance Co or any Broking Co.
  • Exposure to corporate and retail lines of business will be an added advantage.

Key Performance Indicators (KPIs):

  • Turnaround time (TAT) for quote and placement.
  • Accuracy of underwriting and documentation.
  • Relationship management with insurers and business teams.

Contact Person - Ajay Dubey

Contact Number

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