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Assistant Vice President - Underwriting (Financial Lines)

Employer
Great Eastern Life Assurance Co Ltd
Location
Singapore, Singapore
Salary
Competitive
Closing date
Jun 21, 2024

View more

Job Function
Insurance
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Purpose

Your role is to execute the Financial Lines business plan to achieve both top-line growth and bottom-line profitability with a risk-oriented mindset delivered at a high quality customer service standard.

The Job
• Drive profitable growth of Financial Lines by :
o Exercising underwriting authority within delegated authority to assess, price and quote both new and renewal risks;
o Referring risks to the appropriate next level approval for risks outside delegated authority;
o Ensuring compliance with all relevant underwriting requirements and company's reinsurance treaty limits, terms and conditions;
o Upholding underwriting excellence and providing technical guidance in risk selection, pricing adequacy and product offerings;
o Growing new business by (i) identifying and engaging under-penetrated distribution channels, and (ii) deepening engagement with current distribution channels;
o Conducting product trainings for distribution channels;
o Working closely with Accounts on credit control matters;
o Ensuring acceptable loss ratio through loss control activities and engagement with claims personnel.
• Set and uphold service standards by :
o Timely response to the requests of intermediaries or clients;
o Timely renewal outreach;
o Regular follow up;
o Timely and proper instruction to Policy Processing Team.
• Ensure smooth operation of Financial Lines by :
o Maintaining proper records of submission flows;
o Preparing reports for monthly internal meetings and periodic business reviews with internal and external stakeholders;
o Conducting regular portfolio review;
o Training of junior underwriter(s) and/or underwriting assistant(s) as appropriate.
• Others :
o Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
o Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
o Highlights any potential concerns /risks and proactively shares best risk management practices.

Our Requirements
• Undergraduate degree from a recognised institution;
• ACII or ANZIIF or Certification in General Insurance;
• At least 5 years' experience in Financial Lines insurance underwriting in the Singapore market with good knowledge of general insurance laws and legislations;
• Able to work collaboratively with intermediaries across all channels as well as to handle direct clients;
• Good analytical skills and attention to details;
• Good presentation skills;
• Proficient with Microsoft Office applications;
• Resourceful and independent with strong decision making ability;
• Team player and a desire to achieve excellence;
• High level of integrity, takes accountability of work and good attitude over teamwork;
• Takes initiative to improve current state of things and adaptable to embrace new changes.

About Great Eastern
Established in 1908, Great Eastern places customers at the heart of everything we do. Our legacy extends beyond our products and services to our culture, which is defined by our core values and how we work. As champions of Integrity, Initiative and Involvement, our core values act as a compass, guiding and inspiring us to embrace the behaviours associated with each value, upholding our promise to our customers - to continue doing our best for them in a sustainable manner.

We work collaboratively with our stakeholders to look for candidates who exhibit or have the potential to embrace our core values and associated behaviours, as these are the key traits that we expect from our employees as they develop their careers with us.

We embrace inclusivity, giving all employees an equal opportunity to shine and play their role in exploring possibilities to deliver innovative insurance solutions.

Since 2018, Great Eastern has been a signatory to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach around environmental, social, and governance (ESG) considerations play a key role in every business decision we make. We are committed to being a sustainability-driven company to achieve a low-carbon economy by managing the environmental footprint of our operations and incorporating ESG considerations in our investment portfolios; improving people's lives by actively helping customers live healthier, better and longer; and drive responsible business practices through material ESG risk management.

To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.

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