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Senior Underwriter

Job Level:  Professional
Location: 

Hong Kong Island, HK

Due Date:  120 days
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  3722

Job Purpose/Role 

  • Underwrite profitable new and renewal business to meet LoB targets locally/regionally 

  • Negotiation of participation, pricing and terms and conditions 

  • Ownership of accounts / clients 

  • Develop and maintain strong relationships with brokers and clients 

 

Future Challenges: 

  • Effective working within the global matrix 

 

Key Responsibilities 

Underwrite Profitable business 

  • Underwrite new and renewal accounts to meet top and bottom line targets (local and/or regional). Negotiate participation, pricing & terms, and conditions with brokers. Proactively manage capacity. 

  • Underwrite and evaluate Natural Catastrophe Risk and Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LoBs) 

  • Underwrite International Insurance Programs (for relevant LoBs) 

 

Underwriting Approach and Compliance 

  • Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles 

  • Ensure contract certainty is achieved on all accounts at time of inception 

  • Ensure utilisation of global pricing tools 

  • Ensure placing and binding of FAC Reinsurance prior to policy inception 

 

Policy Documentation and Administration 

  • Ensure accurate policy documentation issued to broker (where AGCS responsibility to do so) or broker has issued documentation (where broker responsibility) 

  • File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled 

  • Proactively support completion of policy administration and credit control processes 

 

Support Underwriting Strategy & Leadership 

  • Support development and execution of regional Underwriting strategy for LoB regionally 

  • Training, developing and coaching of less experienced staff (including junior underwriters, operations, credit control) 

  • Manage standard referrals from underwriters and spokes and re-underwrite complex business as appropriate 

  • Delegate work as appropriate 

 

Distribution Management  

  • Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary) 

  • Proactively liaise with DM on market management initiatives 

 

Relationship Management 

  • Positively represent AGCS externally to the market 

  • Proactively drive involvement of functional areas in Underwriting process, including e.g. MMC, ARC, Claims, Operations 

  • Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g. risk managers) 

 

Key Requirements/Skills/Experience 

Type of Experience: 

  • Proven track record in Underwriting profitable business in Property, in Hong Kong, Macau and Taiwan  

  • Demonstrated international underwriting experience (e.g. IIP) and good understanding of LoB products and portfolio 

  • Demonstrable, established relationships with brokers at peer group level and established within market 

  • Good understanding of regional / local LoB insurance markets and competitor landscape 

  • Understanding of legal and regulatory frameworks in the region 

  • Experience working in a complex, global matrix organization, alongside local and regional colleagues 

  • 10 Years minimum experience in Corporate Property Underwriting  

 

Technical Skills: 

  • Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB 

  • Pricing and Market mgt: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs 

  • Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings 

  • Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation. 

 

General Skills: 

  • Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally. Ability to "sell" an improvised or prepared audience winning story 

  • Influencing skills: Ability to persuade and motivate others to act, without executive authority 

  • Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire 

  • Language English, Cantonese and/or Mandarin also preferred   

 

Education/Certification: 

  • Preferably a degree in Economics, Law, or other appropriate discipline 

  • Completion of professional insurance qualification (e.g. CII or ANZIIF)