Deputy Head of Commercial Lines

6 days ago

Central Region, Singapore HL Assurance Pte Ltd Full time $104,000 - $130,878 per year

Job Responsibilities:

Reporting to the Head of Commercial Lines, you shall be responsible to:

  • Assist in product strategies development that will book growth and garner profitability to achieve production target.
  • Implement and manage effective pricing to ensure that pricing is adequate to commensurate with the acceptable risk exposure.
  • Handle risk assessment and underwriting of the assigned class of insurance business in accordance to the underwriting authority as delegated, to deliver underwriting decision within specified turnaround time.
  • Liaise closely with insurance brokers, clients, agencies and agents to secure potential profitable business and achieve production targets.
  • Conduct market research and competitors' statistical analysis of all product classes.
  • Monitor portfolio performance, analyze trends, and recommend corrective actions to optimize profitability
  • Understand and achieve synergies between risk underwriting, reinsurance and treaty programs
  • Strategize business initiatives and campaigns with Distribution to drive new business acquisitions and retain renewal accounts.
  • Drive new business acquisitions through intermediaries to potential customers through strong engagements, trainings and seminars.
  • Design and execute high quality training and engagement programs with Distribution to educate intermediary partners on product portfolio and benefits offered by the Company.
  • Lead, motivate, and develop the commercial lines underwriting team to achieve business targets
  • Achieve assigned targets and KPIs for sales production and profitable portfolio. Proactively recruits new intermediaries to expand distribution network.
  • Establish productive, professional relationships with key personnel in acquired intermediary accounts.
  • Perform regular market research and competitor analysis to keep ourselves ahead of competition and to continuously innovate our market approach.
  • Leads innovative solution projects that enhance user requirements and customer experience, while coordinating the involvement of all necessary stakeholders.
  • Coordinates the involvement of company stakeholders, including support, service levels and processes to meet partner/client requirements and objectives.
  • Proactively leads an annual joint-planning process to develop mutual performance objectives, financial targets, and critical milestones associated with our intermediaries.
  • Foster excellent communication with internal and external stakeholders to drive distribution and operational efficiencies.
  • Perform any other assigned duties from time to time.

Job Requirements:

  • A recognized Diploma or Degree in any related discipline, with professional qualifications in General Insurance
  • Minimum 8-10 years of hands-on relevant experience in underwriting commercial lines including Fire, Property, All Risk, Public/ Product Liability, CAR, WIC, GPA, GBT, and other groups.
  • Excellent communication, negotiation, and stakeholder management skills
  • Resourceful, independent and a fast leaner, able to grasp processes and system quickly
  • Excellent presentation, communication, interpersonal and relationship management skills
  • Good understanding of regulatory frameworks and industry best practices
  • Able to work within tight schedule and under pressure

Other Information and Benefits

  • 5-day work week (Mon – Fri, 9 am - 6 pm)
  • Walking distance from Tanjong Pagar MRT
  • Attractive remuneration package, variable performance bonus, annual leave entitlement, outpatient and dental benefits, group hospitalization and surgical, personal accident and term life insurance, etc.

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