Underwriting Specialist/Executive (Life Insurance)

Generali; Kuala Lumpur; On-site; MYR 60,000 - 90,000; Full time

Job summary

A leading insurance company in Kuala Lumpur seeks a Medical Underwriter to manage underwriting processes, ensure regulatory compliance, and liaise with reinsurers. Candidates should possess a Bachelor’s degree in insurance or a related field and have at least 2 years' experience in underwriting. Strong interpersonal and organizational skills are essential, along with proficiency in Microsoft Office. This position offers opportunities for professional development and a collaborative work environment.

Qualifications

• Minimum 2 years’ experience as a medical underwriter.
• Knowledge of Life insurance business and regulatory licensing will be an advantage.
• Ability to work with minimum supervision.

Responsibilities

• Underwrites new business and reinstatement applications up to conferred authority.
• Ensures underwriting requests are processed according to regulatory requirements.
• Liaises with reinsurers on cases exceeding underwriting limits.
• Handles appeals and complaints from stakeholders.
• Performs ad-hoc duties as assigned.

Skills

Interpersonal skills

Organizational skills

Time-management skills

Effective communication

Microsoft Office

Customer service skills

Education

Bachelor’s degree in insurance or related field

Degree in Biomedical Sciences/ Nursing/ Medical Laboratory Technology/ Biology/ Biochemistry

Job description

To provide medical, non-medical and financial underwriting of individual life and alternative channels cases within the stipulated guidelines and turnaround time.

Supports manager to ensure that the daily operations of the departments are within the agreed service levels.

Reporting to the Head of New Business & Underwriting.

Responsibilities

• 1. SLA
  • Underwrites and approved new business and reinstatement application up to conferred authority.
  • Exercises responsibility for risk selection and complete process within agreed service benchmarks.
• 2. Risk Assessment and Audit related matters
  • Be guided with Company’s SLA, SOP & BNM and other related guidelinesand comply with no audit issues.
  • Ensures underwriting requests processed are done prudently and in accordance with all regulatory and corporate requirements, including effective solicitation, selection, pricing, and retention of desirable business.
• 3. Referral to Reinsurers
  • Liaising with reinsurer and actuarial department on placement of risk on cases which exceed our underwriting limit.
• 4. Approval Limit
  • Signs letters of acceptance, offer, declinature or deferment or requests for underwriting requirements.
  • Handle and manage appeals and complaints from agents, banca, branch staff and other stakeholders.
  • Support manager in process improvement by continuously reviewing processes, identifying, and resolving service gaps through constructive feedback and implementing improvements where appropriate.
• 5. Any Other Related Ad-Hoc duties
  • Perform any other ad-hoc duties as assigned by superiors both in New Business and Underwriting.
  • To attend email on any complaint related to lab reports documents.
  • Support manager in controlling the medical cost and ensure required medical to be requested.

Requirements

• 1. Educations
  • Bachelor’s degree in insurance or its related discipline.
  • A degree in Biomedical Medical Sciences/ Nursing/ Medical Laboratory Technology/ Biology/ Biochemistry will be an advantage.
• 2. Experience
  • Minimum 2 years’ experience as medical underwriter.
  • Able to work with minimum supervision to meet tight deadlines.
  • Knowledge of Life insurance business and regulatory licensing requirements will be an advantage.
  • Knowledge of the process and procedures in New Business & Underwriting Operations Departments will be an advantage.
• 3. Skills
  • Good interpersonal, organizational, and time-management skills.
  • Able to communicate effectively with all levels of internal and external customers. Proactive and able to work with minimum supervision to meet tight deadlines.
  • Good working knowledge of Microsoft Office, especially PowerPoint and spreadsheet applications.
  • Customer services skills, Insurance operations, Complaint handling and computer skills.
  • Able to accept challenges with a good attitude.