Underwriter Liability, South Korea

Let’s care for tomorrow. 
Your ambitions. Your dreams. Your tomorrow. 

At Allianz Commercial, we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks, or climate change impacts, we have the major risks covered when it comes to protecting businesses. 

Summary of the Job： 

• Underwrite profitable new and renewal business to meet Liability targets 

• Negotiation of participation, pricing and terms and conditions 

• Ownership of accounts / clients 

• Develop and maintain relationships with brokers and clients 

Key responsibilities of the job: 

• Underwrite new and renewal accounts to meet top and bottom line targets 

• Negotiate participation, pricing and terms and conditions with brokers 

• Proactively manage capacity  

• 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 utilization of global pricing tools 

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

• 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 

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

• Proactively liaise with MMC on market management initiatives 

• 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 Experience / Requirements / Skills： 

• Proven track record in Underwriting profitable business in Liability. Good understanding of Liability products and portfolio 

• At least 5 years of working experience in non-life insurance market, especially for Liability line of business. 

• 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 

• 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 skills: Clearly and effectively express ideas and messages via speech or writing. 

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

• Analytical Skills: Ability to effectively absorb information from various sources, then analyze, study or examine data in detail, and draw appropriate conclusions. 

Education： 

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

46932 | Underwriting | Professional | Non-Executive | Allianz Commercial | Full-Time | Permanent

What’s in it for you? 

Let’s care about everything that makes you, you 

We are committed to nurturing an inclusive environment where everyone feels they belong.  We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working.  Please feel free to discuss flexible working arrangements with us. 

Let’s care for your financial wellbeing 

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension. 

Let’s care for your opportunities to progress 

From career development and digital learning programmes to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered. 

Let’s care for life’s twists and turns 

From our support for flexible working, health, and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach.  We’ve got your back. 

Let’s care for our society and our planet 

With opportunities to be engaged in shaping a future that is safe, inclusive, and sustainable, we care for the tomorrows of our people, our industry, and our clients. 

Care to join us? 

Allianz Commercial is a global corporate insurance carrier and part 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.  Learn more about us by clicking here. 

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation, or any other protected characteristic.  Diversity of thinking is an important part of our company culture.

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