Head of Underwriting

2 weeks ago

Singapore CHUBB INSURANCE SINGAPORE LIMITED Full time

Roles & Responsibilities

Key Objectives

The role of the Head of Underwriting and Portfolio Management in the Consumer Division entails leading a team that supports underwriting, product development, and portfolio management functions for Accident & Health (A&H) and International Personal Lines (IPL) business units, alongside Independent Distribution Partners (IDP) and Bancassurance distribution channels.

This position carries the responsibility of ensuring that Consumer Lines products meet specified loss, acquisition, and expense ratios as per Chubb guidelines. Additionally, the incumbent will collaborate with business teams to innovate and introduce new coverages/products, as well as oversee the continuous monitoring and optimization of underwriting performances.

Reporting directly to the Division Head of Consumer and Bancassurance, the Head of Underwriting and Portfolio Management receives technical underwriting authority and guidance from Regional and Global Underwriting and Portfolio Management teams in A&H and IPL.

Major Duties and Responsibilities

  • Support Business and Distribution teams by:
    • Researching and proposing new coverages and products in alignment with Chubb Underwriting guidelines
    • Optimizing existing products
    • Providing underwriting training to local stakeholders
    • Leading product development initiatives
  • Facilitate portfolio management of various product lines:
    • Review and analyze results of A&H and IPL product line portfolios to ensure their profitability and viability
    • Collaborate with the Claims Department to assess claims data and suggest strategies to manage losses effectively
    • Offer insights to business teams to support business-case development
  • Develop, implement, and manage underwriting programmes and processes:
    • Monitor Underwriting Plans
    • Manage Pricing effectively
    • Oversee Policy Delivery processes
    • Assist in Catastrophe Management
    • Plan and monitor Portfolio Pricing
    • Ensure effective Portfolio Monitoring and Control
  • Underwriting Management:
    • Underwrite New Business and approve cases within assigned authority and set timelines
    • Oversee submissions for review beyond delegated authority
    • Ensure compliance with Internal Audit Guidelines
    • Establish and communicate underwriting policies and procedures
  • Manage the end-to-end policy delivery process, ensuring accuracy in product set-up and meeting reporting requirements
  • Provide guidance and mentorship to underwriters, reviewing their proficiency regularly
  • Collaborate with other departments for the flow of technical information
  • Lead internal and external underwriting audit reviews
  • Manage ad-hoc projects when assigned

Requirements

  • Bachelor's Degree in insurance, actuarial science, accounting, engineering or related fields
  • Solid proficiency in underwriting, insurance industry theories and practices
  • Professional qualifications such as ACII are advantageous
  • 8 – 10 years of experience in the insurance industry as an underwriter, preferably in A&H and/or IPL
  • Strong analytical and problem-solving skills
  • Proficiency in verbal and written English
  • Organized with acute attention to detail
  • Strong interpersonal and negotiation skills
  • Experience with team leadership in multinational companies
  • Adept at multitasking in a fast-paced environment

Tell employers about your skills

  • Negotiation
  • Ability to Multitask
  • Written English
  • Analytical Skills
  • Underwriting
  • Accounting
  • Portfolio Management
  • Attention to Details
  • Team Leadership
  • Delivery Management

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