Job Family Card - Underwriting

Apply standard rates and calculates premiums on new business, renewals and endorsements related to the Underwriting unit. Assess risk and pricing to ensure company value and ensures underwriting policies, procedures and guidelines are in compliance with the organization's expectations.

Job Family Code

IUN

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Job Roles

Card Job Role Description

Job Role

Assistant Underwriter

Job Family Code

IUN

Job Family

Underwriting

Responsibilities

    Identify and gather material facts required to support the acceptance of risks.

    Carry out standard risk investigations into proposed policies and clients.

    Enter, review and maintain accurate records of new policies, renewals, suspense items, cancellations, and expirations.

    Administer the issuance of re-insurance certificates and treaties and engage in related day-to-day operations.

Card Job Role Description

Job Role

Underwriter

Job Family Code

IUN

Job Family

Underwriting

Responsibilities

    Calculate possible risk and decide on the premium by implementing the organization's underwriting and pricing criteria.

    Identify special conditions to be adhered to by the applicant and add them to the policy in order to mitigate potential risks.

    Ensure accurate and timely delivery of account renewals and new business quotations through expert analysis of premium rate development and risk evaluations.

    Negotiate terms with policyholders or their brokers and draw up contracts.

Card Job Role Description

Job Role

Senior Underwriter

Job Family Code

IUN

Job Family

Underwriting

Responsibilities

    Propose policy packages that meet the needs of various clients, while still maintaining company profitability.

    Provide risk assessment recommendations based on consultation with specialists, such as actuaries and surveyors, for risk assessment.

    Evaluate established procedures for effectiveness and recommend changes.

    Decide whether the risk should be shared with a reinsurer and ensure proper coverage inline with the organisation's reinsurance policies.

    Perform premium audits and ensure that premiums are calculated accurately and are collected on time.

Card Job Role Description

Job Role

Underwriting manager

Job Family Code

IUN

Job Family

Underwriting

Responsibilities

    Develop and oversee implementation of the organization's underwriting criteria including risk classification and acceptable risks.

    Analyse proposed insurance product mix impact on portfolio underwriting to establish compliance with the organization's financial risk profile and objective.

    Monitor and manage the maintenance and growth of a balanced portfolio and assess its performance.

    Manage underwriting function performance and ensure implementation of organization's policies and procedures as well as regulatory compliance.

    Observe collaboration between underwriting team and other internal or external specialist such as actuaries, assessors, etc. to ensure best underwriting decisions are made.

Card Job Role Description

Job Role

Head of Underwriting

Job Family Code

IUN

Job Family

Underwriting

Responsibilities

    Contribute to the formulation of the overall organization's strategy, in collaboration with others in the executive team, focussing the organization's Underwriting function.

    Approve and ensure implementation of Underwriting function policies and procedures and ensure its efficiency.

    Manage Underwriting function and ensures its compliance to regulatory requirements as well as market Standards.

    Manage and monitor Underwriting function budget for cost efficiency.

    Manage internal and external relationships and represent the organisation in all business matters related to Underwriting function.

    Monitor products portfolio performance making sure all policies are underwritten according to the organisation's criteria.

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