Underwriter/General Insurance-Corporation

Key Responsibilities:

• Risk Assessment: Evaluate insurance applications and assess the risk involved for various general insurance products (e.g., property, liability, health, marine insurance)etc.
• Decision Making: Make underwriting decisions by determining appropriate coverage levels, policy terms, and premiums based on the assessment of the risk.
• Policy Documentation: Ensure that all policies are issued with accurate and complete documentation, in compliance with company standards and regulatory requirements.
• Collaboration with Sales & Insurance company: Work closely with the corporate sales team, Insurance companies to understand client needs, develop tailored insurance solutions, and provide quotes in a timely manner.
• Underwriting Guidelines: Adhere to established underwriting guidelines and recommend improvements based on market trends and risk exposure.
• Market Research: Stay informed about market trends, industry changes, and regulatory developments that may impact underwriting practices.
• Portfolio Management: Manage a portfolio of general insurance policies, monitor its performance, and ensure profitability by controlling loss ratios and identifying potential areas of risk.
• Claims Support: Collaborate with the claims department to review complex claims and ensure appropriate underwriting measures were in place.
• Reporting: Prepare underwriting reports for senior management, highlighting risk trends, premium calculations, and policy recommendations.

Qualifications and Skills:

• Educational Background: Bachelors degree in Finance, Insurance, Business, or a related field. Insurance certifications such as Associateship.
• Experience: 5-8 years of experience in underwriting, with a strong focus on general insurance products.
• Product Knowledge: Comprehensive understanding of general insurance lines, including property, liability, marine etc.
• Analytical Skills: Strong analytical and risk assessment skills with attention to detail.
• Decision-Making: Proven ability to make informed decisions under pressure and in a fast-paced environment.
• Communication Skills: Excellent written and verbal communication skills, with the ability to present underwriting decisions to internal teams and clients.
• Technical Proficiency: Familiarity with underwriting software, risk assessment tools, and MS Office (Excel, PowerPoint, Word).
• Regulatory Knowledge: Sound knowledge of IRDAI regulations and other industry-specific guidelines related to underwriting practices.