Junior Underwriter, Natural Resources & Construction
Singapore, SG, 068897
Let’s care for tomorrow.
Your ambitions. Your dreams. Your tomorrow
At Allianz Commercial, we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it is aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Commercial has the major risks covered when it comes to protecting businesses.
Job Purpose/Role:
This role is based in Singapore. You are responsible for independently preparing underwriting processes within own area of responsibility and expertise. You will liaise with other functions to ensure timely/accurate policy administration as well as develop and maintain strong relationships with brokers and clients.
Key Responsibilities:
Underwriting
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Underwriting of new and renewal accounts to meet top and bottom-line targets within predefined underwriting authority for the Natural Resources & Construction Line of Business, with specific focus on Construction, Power, and Green Energy businesses.
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Participates in the acquisition of new business and retention of existing business (including client and broker negotiations where necessary) in line with Underwriting Strategy.
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Proactively prepare relevant underwriting information including client / market research and claims data.
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Assist in evaluation of Natural Catastrophe Accumulation (for relevant LoBs).
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Assist in pricing of risks, using global tools as appropriate.
Underwriting Approach and Compliance
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Ensure Underwriting compliance in line with LoB governance framework - e.g. Underwriting Authorities, Underwriting Guidelines, Rules and Principles.
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Assist in ensuring contract certainty is achieved on all accounts at time of inception.
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Assist in ensuring binding of FAC Reinsurance prior to policy inception.
Policy Documentation and Administration
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Proactively establish and maintain policy file (whether electronic or paper) for each risk and transaction handled.
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Ensure accurate policy documentation issued to broker (where Allianz's responsibility to do so) or broker has issued documentation (where broker responsibility).
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Support administration of Multinational Programs (for relevant LoBs).
Accounts Reconciliations
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Manages timely and accurate booking of policy premiums and credit control / collection processes.
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Proactively work with other functions (e.g. operations, credit control) to resolve outstanding accounts queries.
Market Management
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Proactively support acquisition of new business and retention of existing business for clients (including client and broker negotiations where necessary).
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Proactively liaise with Distribution Management team on market management initiatives.
Relationship Management
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Positively represent Allianz Commercial externally to the market.
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Proactively develop relationships with internal functional areas involved in Underwriting process, including e.g. Distribution Management, Risk Consulting, Claims and Operations.
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Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders.
Key Experience / Requirements / Skills:
Required Experience
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Basic understanding of Construction, Power and Green Energy Line of Business.
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Evidence of relationship building with brokers at peer group level.
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Basic understanding of regional / local LoB insurance markets and competitor landscape.
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Basic understanding of legal and regulatory framework.
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Experience working in complex, global matrix organization.
Required Education
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Preferably a degree in Engineering or other appropriate discipline.
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Progress towards professional insurance qualification (e.g. CII).
Technical Skills
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Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB.
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Pricing and Market Management: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs.
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Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings.
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Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
General Skills
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Communication Skills: Clearly and effectively express ideas and messages via presentations/speech or in writing.
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Influencing Skills: Ability to persuade and motivate others to act without direct authority.
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Analytical Skills: Ability to effectively absorb information from various sources, then analyze, study or examine data in detail and draw appropriate conclusions.
Languages
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Fluent in English. Fluency in any other local language is a plus.
76009 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent
What’s in it for you?
Let’s care about everything that makes you, you.
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.
Let’s care for your financial well-being.
We believe in rewarding performance with a competitive compensation and benefits package.
Let’s care for your opportunities to progress.
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery, and empowerment are fostered.
Let’s care for life’s twists and turns.
From our support for flexible working, health, and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.
Let’s care for our society and our planet.
With opportunities to be engaged in shaping a future that is safe, inclusive, and sustainable, we care for the tomorrows of our people, our industry, and our clients.
Care to join us?
Allianz Commercial is the Allianz Group brand serving the world’s largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations’ economies. We bring together the corporate multinational business of Allianz Global Corporate & Specialty and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. As a key strategic player in the Allianz Group network, Allianz Commercial is present in over 200 countries and in 2022 generated more than €19 billion gross premium.
Learn more about Early careers at Allianz Commercial by clicking here
Learn more about careers at Allianz Commercial by clicking here.
Learn more about Allianz Commercial by clicking here.
Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation, or any other protected characteristic. Diversity of thinking is an important part of our culture.
People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com
Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.
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