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Deputy Manager Liability LOB
5-12 years
Mumbai
1 vacancy
Deputy Manager Liability LOB
Bajaj Allianz General Insurance
posted 12d ago
Job Role Insights
Flexible timing
Key skills for the job
Job Description
- Risk Assessment and Underwriting
- Review technical proposals received from various retail and corporate customers so as to ensure risk undertaken is as per guidelines.
- Evaluate proposal thoroughly considering past claims/cases and assess conformance with the set underwriting guidelines; seek more information on proposals, customers, if required.
- Conduct 360 degree review of risks along with any associated loss ratio; set standard terms and conditions for the proposal
- Arrive at the quotes; discuss the same with the superior, if required; provide clarifications to the customer / relationship manager / intermediary , if required
- Scrutinize the proposals received and assess adherence to the norms, guidelines and if the premium considered is correct and accounts for associated risk; share the information with the National Head, if there is a deviation
- Review and revise Underwriting guidelines and SOPs, on an annual basis.
- Premium Growth and Audits
- Visit the locations and meet major IMDs; understand problem areas and issues / concerns
- Provide guidance, if required and resolve any issues / concerns from IMDs
- Clarify organization guidelines, premium calculation and probable risks which should be accounted for when arriving at the premium rates for policy issuances; share business understanding, past cases and spread awareness within the team on risk assessment and mitigation
- Conduct sample audits across the zones to check for non-adherence to company guidelines; seek clarifications from the team and draft the report; share the report with the National Head
- Face internal and external (IRDA) audit while ensuring all audit requirements are fulfilled in a timely and effective manner. Take corrective actions in collaboration with NHOD as per audit findings.
- Projects / Special Initiatives
- Take up special projects / initiatives to strengthen the organizational processes, systems and governance systems.
- Collaborate with different teams to provide them the perspective from the technical (underwriting) perspective including challenges faced real-time with agents / IMDs; provide inputs on improving functionality as well reduce workload in repetitive tasks
- Collaborate with Product Development Team for new product filing and revisions in existing products for the LOB.
- Work with teams to ensure all underwriting guidelines / norms / calculators are properly built-in; conduct simulations across test cases and ensure that everything is in line with the set expectations
- Present the new (or modified) functionality to the relevant stakeholders; seek feedback and incorporate the same to strengthen the system for users
- Drive implementation or launch of the new functionality (or modified) / system and ensure a streamlined deployment; provide training to underwriting teams / IMDs on utilizing the same to deliver business for the organization
- Product Training
- Drive implementation of various training efforts in case of new / existing product launch in terms of premium calculation; product nuances, etc.; clarify doubts and resolve concerns, if any
- Assess areas of improvement amongst the IMDs and provide effective training to them; address development issues / concerns and enable them to drive sales for the organization in an effective manner
- Training Content Development for various training programs to be conducted internally and externally.
- Data Analysis
- Analyze the growth achieved across zones and whether the loss ratio is controlled across zones
- Identify areas requiring special attention
- Chart out insights from the data
- Share the analysis report with the National Head and other relevant stakeholders regularly
- Reinsurance and Co-insurance for Liability LOB
- Arrange Facultative Reinsurance to maximize the business while ensuring effective risk transfer. Also, ensure complete, compliant timely risk placements through RI brokers and Reinsurers.
- Ensure timely Reinsurance Bordereau submission, so as to be compliant with Treaty Guidelines.
- Maintain Single Risk Report as per guidelines stated by the Treaty Leader (compliance).
- Claims Review
- Prepare reports for specific complex claims so as to enable Claims to take the right decision wrt Claims Payment.
Employment Type: Full Time, Permanent
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What people at Bajaj Allianz General Insurance are saying
Rating based on 25 Deputy Manager
reviews
Anonymous · BFSI, Investments & Trading
in Pune
Likes
One of the best insurance company.......
- Salary - Excellent
+6 more
Dislikes
there is nothing specific to dislike
Deputy Manager salary at Bajaj Allianz General Insurance
reported by
158
employees
with 5-16
years exp.
₹7.2
L/yr - ₹16
L/yr
31%
more
than the average Deputy Manager Salary in India
View more details
What Bajaj Allianz General Insurance employees are saying about work life
based on 2.4k employees
Flexible timing
Monday to Friday
Within city
Day Shift
Bajaj Allianz General Insurance Benefits
View more benefits
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