The position focuses on underwriting Marine Cargo business of simpler technical complexity, ensuring adherence to our client’s underwriting standards and delegated authority, while delivering high service standards to intermediaries and customers.
Key Responsibilities Strategic & Business Support
- Adhere to business and underwriting plans and strategies to support growth through various distribution channels.
- Work with the Head and Team Leader to drive profitable growth of the Marine portfolio and achieve market leadership.
- Collaborate with the Head and Team Leader to establish best practices and processes to ensure service standards are consistently met.
- Assist in successful business penetration and market launches.
- Support the growth of new and existing business through strengthened account relationships using a multi-tier approach.
- Contribute to key business and line reviews, including product selection, pricing, new product introductions, and competitive conversions via Key Decision Influencers.
- Perform territory and distribution channel analyses to prioritize efforts for maximizing profitable growth.
- Review and prepare underwriting and renewal information.
- Prepare Marine Raters for discussion with the Team Leader/Head.
- Underwrite simpler risks and maintain a profitable book of Marine Cargo business.
- Prepare quotation slips upon finalization with the Team Leader/Head.
- Attend to queries and mid-term changes for existing accounts.
- Liaise with intermediaries and follow up on new quotations and renewals.
- Ensure accurate and timely submission of instructions to Policy Administration with required documentation.
- Conduct sanction checks as required.
- Check policies and broking slips for accuracy.
- Maintain records, schedules, statistics, and underwriting documentation.
- Assist in compiling, analyzing, and preparing monthly reports for meetings and business reviews.
- Determine acceptable pricing and terms within delegated underwriting authority and guidelines.
- Manage loss ratios through account stewardship, loss control activities, and follow-up on large claims.
- Evaluate facultative reinsurance needs and coordinate within underwriting and risk control guidelines.
- Monitor competition, underwriting environment, and market conditions; share insights with the team.
- Develop, maintain, and deepen relationships with intermediaries to support business retention and acquisition.
- Engage with customers and distributors (agents & brokers) to identify insurance needs and provide appropriate solutions.
- Maintain service standards by responding promptly to intermediary requests, ensuring timely delivery of quotations, certificates, and policies.
- Ensure rigorous compliance with KYC processes and timely collection of collateral and agreements.
- ACII, ANZIIF, or Degree/Diploma in Insurance.
- Basic Degree/Diploma in Business or Maritime with CGI preferred.
- Minimum of 4 years’ experience in Marine insurance underwriting with direct intermediary engagement and technical underwriting.
- Solid knowledge of Marine insurance operations, underwriting procedures, and understanding of Marine Cargo classes, products, and policy wordings.
- Strong understanding of risk assessment, laws, and legislation relevant to the marine insurance industry.
*Only candidates with working rights in Singapore will be considered.
Phoebe Woo (R25142324)
Senior Recruitment Consultant - Marine
Faststream Recruitment Pte Ltd, EA License no: 09C3403