Senior Underwriter, Construction
Singapore, SINGAPORE
Job description
Job Purpose/Role:
This role is based in Singapore. You are responsible for underwriting profitable new and renewable business with a key focus on Construction Line of Business (LoB) to meet regional targets. You will take ownership of large accounts/clients including negotiation of participating, pricing and terms and conditions. You will be involved in the training and development of the team and be a referral point for underwriters. You will develop and maintain strong relationships with brokers and clients.
Key Responsibilities:
Underwrite Profitable Business
Underwrite large new and renewal accounts to meet top and bottom-line targets, with specialized technical expertise for Construction Line of Business.
Negotiate participation, pricing and terms and conditions with brokers. Proactively manage capacity.
Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LoBs). Underwrite Multinational Programs.
Underwriting Approach and Compliance
Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, Underwriting Guidelines, Rules and Principles.
Ensure contract certainty is achieved on all accounts at time of inception.
Ensure utilisation of global pricing tools.
Ensure placing and binding of FAC Reinsurance prior to policy inception.
Policy Documentation and Administration
Ensure accurate policy documentation issued to broker (where it is Allianz's responsibility to do so) or broker has issued documentation (where broker responsibility).
File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled.
Proactively support completion of policy administration and credit control processes.
Underwriting Strategy & Leadership
Contribute to development and execution of regional Underwriting strategy for LoB regionally.
Training, developing and coaching of less experienced staff (including Underwriters).
Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate.
Market Management
Proactively support acquisition of new business and retention of existing business for large 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 with key brokers / distribution channels.
Proactively drive involvement of functional areas 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
Specialized technical expertise in Construction Underwriting is a must. Experience in Power and Green Energy would be advantageous.
Recognized relationships with brokers at peer group level and well established within market.
Specialized understanding of regional / local LoB insurance markets and competitor landscape, including global elements.
Good understanding of legal and regulatory framework.
Experience working in complex, global matrix organization.
Required Education
Preferably a degree in Engineering or other appropriate discipline.
Completion of 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 & Presentation: Ability to express ideas and messages clearly, both written and verbally. Ability to "sell" an improvised or prepared audience winning story.
Influencing Skills: Ability to persuade and motivate others to act, without executive authority.
Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
Languages
Fluent in English. Fluency in any other local language is a plus.
76056 | 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.