Senior Underwriting Manager

Entity: Allianz Insurance Singapore
Within a span of just four years, Allianz Insurance Singapore (AIS) has emerged as the fastest-growing General Insurance company, achieving an unprecedented level of success. Since its inception in Singapore, AIS has consistently doubled its revenue year on year, a testament to its unwavering dedication to excellence. AIS takes great pride in being certified as a Great Place to Work, a reflection of our commitment to fostering a thriving and employee-driven business culture.

Description:

The role is responsible for enabling the sales development and the underwriting management for commercial lines in multiple distribution channels, such as the Broker, the GI agent and IFA channels, etc, including the implementation and execution of the underwriting strategy for all lines of P&C business in Singapore, driving sustainable growth and profitability for the company.

Key Responsibilities:

a) Core Underwriting & Quality Control

• Responsible to establish and manage all matters relating to Underwriting Governance and Underwriting Operations.
• Maintain oversight of all underwriters risk appraisal and pricing practices to ensure appropriate risk selection at target underwriting margins.
• Manage and execute Underwriting activities in an efficient and effective manner including: risk submission; completeness of data; analysis and assessment of the risk; coverage structure and design; rating and pricing; negotiation and binding.
• Oversee and ensure all policy wordings reflect the intended underwriting intentions and are in compliance with all necessary Group and local risk appetite.
• Originate commercial lines revenues from Brokers, GI agents and IFA.
• Accountable for the top and bottom line of Brokers, Agents and IFA commercial lines segment, analysing product portfolio for opportunities and provide recommendations by product and channel          
• Perform comprehensive product performance monitoring/controlling along key KPIs. Prepare reports/analysis on portfolio development to support portfolio management decisions. Prepare ad-hoc analysis based on needs of portfolio managers and other stakeholders.
• Establish robust portfolio monitoring KPIs to enable holistic analysis of portfolio performance
• Analyse and monitor underwriting performance of individual products and distribution channels in the portfolio.
• Drive and follow through necessary corrective action items to improve quality of portfolio and product profitability
• Establish the key strategy of core portfolios, across product optimisation & proposition, channel collaboration & expansion, and internal underwriting & claims efficiency
• Manage, delegate and mentor a team of Technical Underwriters and Business Development Managers.

b) Product Management

• Assist the Management to maintain Underwriting leadership in terms of product construct and coverages during the product development process with a key focus on customer centricity and fairness
• Lead the ownership of policy wordings while collaborating with product development and marketing teams on all materials as required

c) Training and Development

• Provide necessary and periodic training and guidance to operations related to underwriting and distribution management
• Responsible for training underwriters and BDMs along with the ownership of their regular training needs for underwriting professional development 

Key Responsibilities:

• 8 + years of experience in the P&C industry with brokers, agency and FA business
• Local technical underwriting knowledge on commercial P&C market in Singapore required
• CGI or PGI and BCP qualified 
• Commercial Property and Marine Cargo&Liability underwriting experience preferred
• Strong leadership and people management skills
• Strong business development capabilities
• Thorough technical understanding of clauses, policy wordings, underwriting philosophies and pricing mechanisms.
• AI-Skills e.g. ChatGPT and Microsoft CoPilot an advantage

96378 | Underwriting | Professional | Non-Executive | Allianz Singapore | Full-Time | Permanent

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer.
 
We are united by a shared commitment: to put our customers first and at the centre of everything we do. Their needs inspire our thinking and guide our actions.
 
Together, we can build an environment where everyone feels empowered and confident to explore,  grow and to shape a better future – for our customers and for the world around us.
 
At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. The foundation for this is our inclusive workplace, where people and performance both matter, and where integrity, fairness, inclusion and trust are at the heart of our culture.
 
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.
 
Join us. Let's care for tomorrow.