Regional Underwriter-Liability LOB

4 days ago

Hyderabad, Telangana, India Bajaj General Insurance Full time
  • Risk Assessment and Underwriting
  • Review technical proposals received from various retail and corporate customers so as to ensure risk undertaken is as per guidelines.
  • Evaluate proposal thoroughly considering past claims/cases and assess conformance with the set underwriting guidelines; seek more information on proposals, customers, if required.
  • Conduct 360 degree review of risks along with any associated loss ratio; set standard terms and conditions for the proposal
  • Arrive at the quotes; discuss the same with the superior, if required; provide clarifications to the customer / relationship manager / intermediary , if required
  • Scrutinize the proposals received and assess adherence to the norms, guidelines and if the premium considered is correct and accounts for associated risk; share the information with the National Head, if there is a deviation
  • Review and revise Underwriting guidelines and SOPs, on an annual basis.
  • Premium Growth and Audits
  • Visit the locations and meet major IMDs; understand problem areas and issues / concerns
  • Provide guidance, if required and resolve any issues / concerns from IMDs
  • Clarify organization guidelines, premium calculation and probable risks which should be accounted for when arriving at the premium rates for policy issuances; share business understanding, past cases and spread awareness within the team on risk assessment and mitigation
  • Conduct sample audits across the zones to check for non-adherence to company guidelines; seek clarifications from the team and draft the report; share the report with the National Head

  • Face internal and external audit while ensuring all audit requirements are fulfilled in a timely and effective manner. Take corrective actions in collaboration with as per audit findings.

  • Projects / Special Initiatives

  • Take up special projects / initiatives to strengthen the organizational processes, systems and governance systems.

  • Collaborate with different teams to provide them the perspective from the technical (underwriting) perspective including challenges faced real-time with agents / IMDs; provide inputs on improving functionality as well reduce workload in repetitive tasks
  • Collaborate with Product Development Team for new product filing and revisions in existing products for the LOB.
  • Work with teams to ensure all underwriting guidelines / norms / calculators are properly built-in; conduct simulations across test cases and ensure that everything is in line with the set expectations
  • Present the new (or modified) functionality to the relevant stakeholders; seek feedback and incorporate the same to strengthen the system for users

  • Drive implementation or launch of the new functionality (or modified) / system and ensure a streamlined deployment; provide training to underwriting teams / IMDs on utilizing the same to deliver business for the organization

  • Product Training

  • Drive implementation of various training efforts in case of new / existing product launch in terms of premium calculation; product nuances, etc.; clarify doubts and resolve concerns, if any
  • Assess areas of improvement amongst the IMDs and provide effective training to them; address development issues / concerns and enable them to drive sales for the organization in an effective manner

  • Training Content Development for various training programs to be conducted internally and externally.

  • Data Analysis

  • Analyze the growth achieved across zones and whether the loss ratio is controlled across zones

  • Identify areas requiring special attention
  • Chart out insights from the data

  • Share the analysis report with the National Head and other relevant stakeholders regularly

  • Reinsurance and Co-insurance for Liability LOB

  • Arrange Facultative Reinsurance to maximize the business while ensuring effective risk transfer. Also, ensure complete, compliant & timely risk placements through RI brokers and Reinsurers.

  • Ensure timely Reinsurance Bordereau submission, so as to be compliant with Treaty Guidelines.

  • Maintain Single Risk Report as per guidelines stated by the Treaty Leader (compliance).

  • Claims Review

  • Prepare reports for specific complex claims so as to enable Claims to take the right decision wrt Claims Payment.

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