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(Senior) Underwriter - Financial Lines

Job Level:  Professional
Location: 

Singapore, SG, 068897

Due Date:  2022-09-30
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate & Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  9886

From airplanes, satellites, the world’s biggest ships and tallest buildings, to cyber-attacks, natural catastrophes or climate change, Allianz Global Corporate and Specialty (AGCS) has got the major risks fully covered when it comes to protecting businesses.

 

Are you interested in joining our adventure by becoming our new Underwriter, Financial Lines, based in our Singapore office?

 

 

Key Responsibilities

 

  • Underwrite Profitable business: 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 and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (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.

 

  • Market Management: 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.

 

  • 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 LoB. Understanding of LoB products and portfolio
  • Demonstrable, established relationships with brokers at peer group level
  • Good understanding of regional / local LoB insurance markets and competitor landscape
  • Understanding of legal and regulatory framework
  • Experience working in complex, global matrix organization

 

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 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 / Certification:

  • Preferably a degree in Economics, Law, or other appropriate discipline
  • Progress towards professional insurance qualifcation (e.g. CII)

 

Languages:

  • English, Fluent (able to negociate)

 

More about Allianz & AGCS

 

The benefits of joining AGCS:

 

  • Hybrid working model, which recognizes the value in a balance between remote and office-based working, giving you the flexibility to organize the way you work
  • An exciting and versatile job with an opportunity to work alongside skilled and specialised colleagues from all over the world
  • An environment where innovation and challenging the status quo is encouraged
  • Wellbeing policies/initiatives to support a positive work life balance
  • A competitive compensation and benefits package
  • Continuous learning: A large portfolio of continuous learning opportunities to help you stay relevant in your current role, grow into future roles and meet the demands of the workplace
  • Diverse and inclusive culture: You will be accepted for who you are and empowered to use your voice to help others find theirs

 

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. 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. Worldwide, AGCS operates with its own teams in 31 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2020, AGCS generated a total of €9.3 billion gross premium globally.

 

Allianz is an equal opportunity employer and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Diversity of minds is an integral part of Allianz’ company culture.