SME Underwriter – Insurance

Hector & Streak; Mumbai; On-site; INR 1,000,000 - 1,500,000; Full time

Job summary

A leading insurance firm in Mumbai is seeking an individual to drive the underwriting strategy and processes for marine, workmen compensation, and fire lines of business. The role involves preparing product policy documents, interacting with various teams to finalize guidelines, and analyzing insurance product performance to ensure effective portfolio management. Candidates should have strong analytical skills and a proactive approach to product development and risk management.

Responsibilities

• Drive underwriting strategy formulation and process setup for marine, workmen compensation, and fire LOBs.
• Prepare product policy wordings, underwriting guidelines, and rating structures.
• Interact with marketing, claims, and actuarial teams to finalize underwriting guidelines.
• Develop products based on customer requirements and market research.
• Analyze product performance regularly and take proactive actions to control the portfolio.
• Develop a monitoring system for underwriting control and risk acceptance discipline.
• Analyze incurred claims ratio and implement loss control measures.

Job description

– Driving underwriting strategy formulation and setting up of processes for the function with respect to products for UW Marine, Workmen Compensation, & Fire LOBs

– Preparation of product policy wordings, underwriting guidelines, rating structure & schedule & other relevant documents for filing of products with IRDA

– Interacting with Marketing, Claims and Actuarial Team for review/follow up and finalizing underwriting guidelines for all products

– Product development as per customer requirements, market research and improve the effectiveness of existing products

– Analyzing the performance of general insurance products on regular intervals and taking proactive actions to control & normalize the portfolio in consultation with sales and claims team

– Developing a monitoring system for underwriting control, enforcement of risk acceptance discipline

– Analyzing incurred claims ratio, review of portfolio and taking proactive action for loss control measures