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Senior Underwriter - Property

Job Level:  Professional
Location: 

SG, 068897

Due Date:  12/31/2021
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  2325

Senior Underwriter – Property

 

Description

 

We have a position in our Property Underwriting team and this role reports to the Head of Property, Singapore.

 

  • Underwrite profitable new and renewal business to meet LoB targets locally/regionally.
  • Negotiation of participation, pricing and terms and conditions.
  • Ownership of accounts / clients.
  • Training and development of team and referral point for other underwriters.
  • Develop and maintain strong relationships with brokers and clients.

 

Tasks, Duties & Responsibilities

 

Underwrite Profitable Business

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

 

Market Management

  • Proactively support acqusition of new business and retention of existing business  (including client and broker negotiations where necessary).
  • Proactivley liaise with MMC 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).

Knowledge, Skills & Abilities

 

  • 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.
  • Proven track record in Underwriting profitable business in LoB. 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 framework.
  • Experience working in complex, global matrix organization.
  • 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.
  • Preferably a degree in Economics, Law, or other appropriate discipline.
  • Completion of professional insurance qualifcation (e.g. CII).
  • Languages: English.

 

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. Join us. Let’s care for tomorrow.

 

We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.

 

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

 

Worldwide, AGCS operates with its own teams in 32 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,300 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2019, AGCS generated a total of €9.1 billion gross premium globally.

 

For more information, visit www.agcs.allianz.com or follow us on Twitter @AGCS_Insurance and LinkedIn.