Junior Underwriter, Natural Resources & Construction

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

• 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. 

• Participates in the acquisition of new business and retention of existing business (including client and broker negotiations where necessary) in line with Underwriting Strategy. 

• Proactively prepare relevant underwriting information including client / market research and claims data. 

• Assist in evaluation of Natural Catastrophe Accumulation (for relevant LoBs). 

• Assist in pricing of risks, using global tools as appropriate. 

Underwriting Approach and Compliance 

• Ensure Underwriting compliance in line with LoB governance framework - e.g. Underwriting Authorities, Underwriting Guidelines, Rules and Principles. 

• Assist in ensuring contract certainty is achieved on all accounts at time of inception. 

• Assist in ensuring binding of FAC Reinsurance prior to policy inception. 

Policy Documentation and Administration 

• Proactively establish and maintain policy file (whether electronic or paper) for each risk and transaction handled. 

• Ensure accurate policy documentation issued to broker (where Allianz's responsibility to do so) or broker has issued documentation (where broker responsibility). 

• Support administration of Multinational Programs (for relevant LoBs). 

Accounts Reconciliations 

• Manages timely and accurate booking of policy premiums and credit control / collection processes. 

• Proactively work with other functions (e.g. operations, credit control) to resolve outstanding accounts queries. 

Market Management 

• Proactively support acquisition of new business and retention of existing business for clients (including client and broker negotiations where necessary). 

• Proactively liaise with Distribution Management team on market management initiatives. 

Relationship Management

• Positively represent Allianz Commercial externally to the market. 

• Proactively develop relationships with internal functional areas involved in Underwriting process, including e.g. Distribution Management, Risk Consulting, Claims and Operations. 

• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders. 

Key Experience / Requirements / Skills: 

Required Experience 

• Basic understanding of Construction, Power and Green Energy Line of Business. 

• Evidence of relationship building with brokers at peer group level. 

• Basic understanding of regional / local LoB insurance markets and competitor landscape. 

• Basic understanding of legal and regulatory framework. 

• Experience working in complex, global matrix organization. 

Required Education 

• Preferably a degree in Engineering or other appropriate discipline. 

• Progress towards professional insurance qualification (e.g. CII). 

Technical Skills 

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB. 

• Pricing and Market Management: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs. 

• Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings. 

• Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation. 

General Skills 

• Communication Skills: Clearly and effectively express ideas and messages via presentations/speech or in writing. 

• Influencing Skills: Ability to persuade and motivate others to act without direct authority. 

• Analytical Skills: Ability to effectively absorb information from various sources, then analyze, study or examine data in detail and draw appropriate conclusions. 

Languages 

• Fluent in English. Fluency in any other local language is a plus.