Senior Underwriting & Portfolio Optimization Lead

SAICO Insurance; Riyadh; On-site; SAR 180,000 - 280,000; Full time

Job summary

SAICO Insurance is seeking an experienced underwriting professional to oversee non-marine general underwriting, drive profitability, and ensure disciplined risk assessment and pricing for Property & GA lines. The role includes developing underwriting processes, reviewing portfolios for renewals and reinsurance, and maintaining pricing tools.

Responsibilities cover issuing quotations and policies, risk control planning, and collaboration with the RI Market when capacity limits are reached.

Qualifications

• Bachelor’s degree in Business Administration, Insurance, or a related field.
• 6–8 years of experience in a related field.

Responsibilities

• Issuing quotations, renewal notices, loss records, issuing policies.
• Oversee the development of the non-marine general underwriting to achieve a balanced profitable portfolio with the use of underwriting best practices.
• Risk selection and technical assessment, pricing and underwriting of Property & GA lines.
• Oversee the underwriting portfolio to develop and revise the underwriting process, rules, and guidelines to maximize profit.
• Oversee the analysis of business portfolios for renewal and reinsurance retention assessment.
• Oversee the process of Risk Control plans to ensure risks are controlled and minimized.
• Apply, develop and maintain pricing models and underwriting tools.
• Oversee the computing of results for appropriate premiums using actuarial information, other statistics, and own judgment.
• Assist in placing risks with the RI Market if beyond the Co. capacity limit and handling general correspondences with the business sources

Education

Bachelor’s degree in Business Administration, Insurance, or a related field

Job description

SAICO Insurance is seeking an experienced underwriting professional to oversee non-marine general underwriting, drive profitability, and ensure disciplined risk assessment and pricing for Property & GA lines. The role includes developing underwriting processes, reviewing portfolios for renewals and reinsurance, and maintaining pricing tools.

Responsibilities cover issuing quotations and policies, risk control planning, and collaboration with the RI Market when capacity limits are reached.