Head of Underwriting

r3 Consultant; Mumbai; On-site; INR 1,500,000 - 2,500,000; Full time

Job summary

A leading consulting firm in Mumbai is seeking a seasoned Head of Underwriting specializing in life insurance with a focus on medical and financial underwriting. The ideal candidate will drive the underwriting process, ensuring compliance and enhancing efficiency while leading a skilled team. Responsibilities include developing underwriting strategies, making informed decisions on complex cases, and collaborating with various stakeholders. Strong leadership and over 8 years of experience in this domain are required for this role.

Qualifications

• 8-12 years of experience in life insurance underwriting, with strong exposure to both medical and financial underwriting.
• In-depth knowledge of underwriting principles and risk assessment processes.
• Leadership skills with experience in managing underwriting teams.

Responsibilities

• Lead the underwriting function, ensuring adherence to company policies, risk guidelines, and regulatory standards.
• Develop and refine underwriting strategies to enhance risk assessment.
• Evaluate high-value and complex life insurance cases.
• Implement technology-driven solutions to streamline underwriting processes.
• Train and mentor a high-performing underwriting team.

Skills

Life insurance underwriting

Medical underwriting

Financial underwriting

Risk assessment

Leadership

Data analytics

Stakeholder management

Tools

Underwriting software

Data analytics tools

Job description

Job Title: Head of Underwriting – Life Insurance (Medical & Financial Underwriting)

Location

Powai, Mumbai

Experience

8-12 Years

Job Summary

We are looking for a seasoned Head of Underwriting with expertise in medical and financial underwriting for life insurance. The ideal candidate will be responsible for designing and implementing underwriting policies, assessing risk, ensuring compliance, and driving efficiency in underwriting processes. This leadership role requires a strong understanding of life insurance underwriting, risk assessment, and regulatory frameworks.

Key Responsibilities

• Lead the underwriting function, ensuring adherence to company policies, risk guidelines, and regulatory standards.
• Develop and refine medical and financial underwriting strategies to enhance risk assessment and decision‑making.
• Evaluate high‑value and complex life insurance cases, making sound underwriting decisions based on medical, financial, and actuarial analysis.
• Work closely with actuaries, medical consultants, and reinsurers to ensure accurate risk pricing and assessment.
• Implement technology‑driven solutions to streamline underwriting processes and improve turnaround time.
• Monitor market trends, regulatory changes, and competitor practices to refine underwriting policies.
• Train, mentor, and build a high‑performing underwriting team.
• Collaborate with sales, operations, compliance, and product teams to support business objectives and improve underwriting efficiency.
• Ensure compliance with IRDAI regulations and internal underwriting guidelines.

Key Requirements

• 8-12 years of experience in life insurance underwriting, with strong exposure to medical and financial underwriting.
• In-depth knowledge of underwriting principles, risk assessment, medical underwriting guidelines, and financial risk analysis.
• Experience in evaluating complex cases, including high-net-worth (HNI) and critical illness policies.
• Familiarity with reinsurance practices, actuarial principles, and mortality/morbidity analysis.
• Strong leadership skills with experience in managing underwriting teams.
• Proficiency in underwriting software and data analytics tools.
• Excellent decision‑making, analytical, and problem‑solving skills.
• Strong communication and stakeholder management abilities.