Team Leader - Motor Underwriting Data Analyst

Job Purpose:

In the above context, the motor underwriter analyses risk in insurance proposals, determines policy terms and calculates premiums on the basis of actuarial, statistical and background information. Provide subject matter guidance and technical support to the teams in conducting assessment of risk parameters associated with various motor products as per defined underwriting guidelines to ensure coverage of future liabilities and minimization of loss ratios for BAGIC s motor business.

PRINCIPAL ACCOUNTABILITIES:

Business Planning Growth

• Preparing, implementing and monitoring of underwriting guidelines
• Monitoring business mix and loss ratios and recommending counter measures for profitable growth.
• Responsible for Pre-inspection approvals through the NTU model
• Working closely with business to understand the risk exposure of various LOBs and provide relevant solutions to the stakeholders
• Analyzing business portfolios and ensuring profitability. Suggest and initiate corrective actions for less and/or non-viable portfolios.
• Providing strategic inputs to the National head for the formulation of Long Range Plan (LRP) and Annual Operating Plan (AOP) and manage projects that are an outcome of the same.
• Providing additional support and assessing the risk for special lines of business which are outside the purview of retail motor business for e.g. Fleet
• Periodical review of underwriting guidelines and implementation through ground forces.
• Monitoring adherence of various processes in motor underwriting to ensure compliance with regulatory requirements
• Responsible for statutory and regulatory audits and taking corrective actions as and when necessary
• Working collaboratively with stakeholders to identify fraud and providing counter measures to tackle the same.
• Oversee required changes in system, bug management and new initiative.
• Providing technical input for any new development in system, transformation of system.

2. Risk Management

• Providing sanction on deviations by assessing exception cases over and above standard framework guidelines

3. Analytics MIS Reporting

• Reviews analytics for central team regularly
• Co-ordinates with various departments for data inputs and uses insights from analytics to make strategic alterations
• Provide analytical reports to Zonal Heads for their teams to assess their targets

4. Relationship management

• Interacts with internal stakeholders (Sales - Motor, Compliance etc.) to discuss various products and risks that can be undertaken in compliance with regulatory requirements

5.Technology

• Drive continuous improvement efforts to achieve process and cost efficiency within the function
• Drive application of technology to enable re-engineering of programs and processes to make optimal use of resources in consultation with various stakeholders in other departments.
• Integration of external portals with internal platforms
• Model upgradation and provide Pre-inspection rights to IMDs
• Identifies and resolve system Issues

6.Team Development

• Participates in monthly and quarterly reviews with function head and own team
• Participates in selection process to identify right talent for various positions within the Motor Underwriting team
• Identifies and creates development opportunities, enhanced domain knowledge and underwriting expertise for team members
• Establishes individual performance expectations for the team and regularly review performance

Educational Qualifications:

1. Qualifications

Engineering background, Automobile preferred

1. Work Experience

Minimum 10 years of experience(Insurance preferred) with atleast minimum 3yrs experience in automobile work shop and minimum 3 yrs in motor claims department

1. Technical Skills

• Analytical Skills
• Good Excel Skills
• Project Management
• Understanding of software development and UAT impact
• Attention to detail
• Negotiation and interpersonal skills