At a Glance
- Tasks: Perform underwriting assessments and support daily operational tasks for high net worth cases.
- Company: Leading insurance firm with a focus on innovation and excellence.
- Benefits: Attractive salary, comprehensive health benefits, and opportunities for professional growth.
- Other info: Collaborative environment with a strong emphasis on process improvement.
- Why this job: Join a dynamic team and make impactful decisions in the insurance industry.
- Qualifications: Bachelor’s degree and 10 years of underwriting experience required.
The predicted salary is between 70000 - 90000 € per year.
Perform underwriting assessments for high net worth and non-HNW cases within assigned authority and support daily operational tasks. Provide underwriting-related support for ad-hoc tasks.
Key responsibilities include:
- Performing underwriting assessments for new business applications including HNW cases, achieving underwriting KPIs through active case management.
- Underwriting large sum assured applications (formal and preliminary) and communicating decisions to intermediaries within agreed TAT, ensuring competitive underwriting decisions and minimal requirements. This includes negotiating with reinsurers for favorable terms.
- Ensuring cases are underwritten within the agreed TAT.
- Reviewing complex appeal cases and coaching underwriters for large sum assured cases underwriting.
- Liaising with reinsurers on referral cases beyond local authority.
- Resolving enquiries and issues with channel management.
- Actively handling own case appeals, postponements, and declines, directly communicating rationale and alternatives to distribution channels.
- Reviewing and identifying areas of process improvement or operational efficiency within the New Business department; supporting the Team Lead in driving process changes.
- Participating in Quality Assurance reviews (audit of cases) where applicable.
- Instilling a higher risk awareness culture and collaborating with second liners on roles and support needed.
- Providing underwriting-related support for business development projects as needed.
- Performing data or trend analysis when required.
Requirements:
- Minimum bachelor’s degree.
- Minimum 10 years of underwriting experience in both direct and reinsurance capacities.
- Additional advantage: high underwriting authority for high-net-worth products.
Underwriting, Principal employer: AIA
As a leading employer in the underwriting sector, we offer a dynamic work environment that fosters professional growth and collaboration. Our commitment to employee development is reflected in our comprehensive training programmes and opportunities for advancement, particularly in high net worth underwriting. Located in a vibrant area, we promote a culture of innovation and efficiency, ensuring our team members are equipped to excel in their roles while enjoying a supportive and engaging workplace.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting, Principal
✨Tip Number 1
Network like a pro! Reach out to industry contacts and attend events where you can meet people in underwriting. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Showcase your expertise! When you get the chance to chat with potential employers, highlight your experience with high net worth cases and your ability to negotiate with reinsurers. Make sure they see you as the go-to person for complex underwriting decisions.
✨Tip Number 3
Be proactive! If you see a job that fits your skills, don’t just wait for the application process. Reach out directly to the hiring manager or team lead through LinkedIn or email. A personal touch can make all the difference!
✨Tip Number 4
Keep learning and adapting! Stay updated on industry trends and best practices in underwriting. This not only boosts your confidence but also shows potential employers that you're committed to continuous improvement and operational efficiency.
We think you need these skills to ace Underwriting, Principal
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Underwriting Principal role. Highlight your experience with high net worth cases and any relevant KPIs you've achieved. We want to see how your background aligns with our needs!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting and how your skills can help us achieve our goals. Be specific about your experience with large sum assured applications.
Showcase Your Problem-Solving Skills:In your application, mention instances where you've improved processes or resolved complex cases. We love candidates who can think outside the box and drive operational efficiency!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at AIA
✨Know Your Underwriting Inside Out
Make sure you brush up on your underwriting knowledge, especially regarding high net worth cases. Be prepared to discuss specific examples from your past experience where you've successfully managed large sum assured applications and how you achieved competitive decisions.
✨Showcase Your Negotiation Skills
Since negotiating with reinsurers is a key part of the role, think of instances where you've successfully negotiated terms in the past. Be ready to explain your approach and the outcomes, as this will demonstrate your ability to handle complex cases effectively.
✨Highlight Process Improvement Initiatives
Prepare to talk about any process improvements you've implemented in previous roles. Discuss how these changes enhanced operational efficiency or risk awareness, as this aligns perfectly with the responsibilities outlined in the job description.
✨Be Ready for Case Scenarios
Expect to be presented with case scenarios during the interview. Practice articulating your thought process on how you would underwrite these cases, manage appeals, and communicate decisions. This will show your analytical skills and your ability to handle real-world challenges.
