Assistant Underwriter, Singapore Workers Compensation

LMG Insurance; Singapore; On-site; SGD 42,000 - 54,000; Full time

Job summary

LMG Insurance in Singapore is seeking an Assistant Underwriter for Singapore Workers Compensation. Under moderate supervision, the Assistant Underwriter develops functional knowledge to support growth and profitability of assigned specialty lines through pre-underwriting, marketing, and handling of standard risks.

Works within defined limits and authorities on low-complexity assignments. You will assist in reviewing, rating and underwriting target new and renewal business, build strong

Qualifications

• Previous experience in General (non-Life) Insurance.
• Experience with broker or insurance company roles.
• Proficient with Outlook, Word, Excel, PowerPoint and databases.
• ACII/AAII or equivalent designation pursued.
• Tertiary qualifications desirable.

Responsibilities

• Establishing and maintaining strong relationships with producers and clients to facilitate marketing and sale of Liberty brand and products.
• Assisting the underwriting team in reviewing, rating and underwriting target new business and renewal business.
• Developing selling and negotiation strategies to improve profitability of assigned specialty product lines.
• Ensuring producers and clients receive high underwriting service differentiating the company from competitors.
• Providing input into product development and marketing plans including market research and competitive analysis.
• Reviewing and negotiating policy terms and endorsements with underwriters.
• Participating in marketing plan execution and audits as required.
• Contributing to timely premium processing and SLA adherence.

Skills

Relationship building

Communications (verbal & written)

Negotiation

Sales

Results oriented

Time management

IT systems proficiency

Analytical skills

Business acumen

Research skills

Initiative

Decision making

Education

ACII/AAII pursuit

Tertiary qualifications desirable

Tools

Outlook

Word

Excel

PowerPoint

Database systems

Job description

Job Title: Assistant Underwriter, Singapore Workers Compensation

Department: Underwriting

Location: Singapore

Type: Permanent

Job Summary:

Under moderate supervision, the Assistant Underwriter develops functional knowledge and skills to contribute to the growth and profitability of assigned specialty line(s) through pre-underwriting, marketing, and managing of products and services of standard risks. Works within defined limits and authorities on assignments of low complexity. Some risks may require special handling or unusual coverage.

Job Responsibilities:

• Establishing and maintaining strong relationships with producers and clients to facilitate the marketing and sale and training of the Liberty brand and products.
• Assisting the underwriting team in the process of reviewing, rating and underwriting target new business and renewal business in line with Liberty’s quality selection and adequate pricing guidelines.
• Developing selling and negotiation strategies to ensure contribution to the profitability of assigned specialty product line(s).
• Ensuring that producers and clients receive a high level of underwriting service that differentiates Liberty from its competitors.
• Providing input where possible into product development and marketing plans including market research, competitor analysis, product design and geographic/segment focus.
• Reviewing and negotiating policy terms and conditions including assisting with the production of manuscript policy wordings and endorsements.
• Participating in the execution of marketing plans.
• Assisting in ensuring premium payments are received and discrepancies investigated in a timely manner by referring to Debtors report from Finance department;
• In conjunction with other more senior Underwriting employees represent Liberty at industry social events, conferences and other relevant market related presentations.
• Building the Liberty Brand and own profile within the market.
• Working closely with claims department, risk management and all other key internal stakeholders to promote Liberty’s "integrated business unit approach" and ensure seamless delivery of underwriting services.
• Working closely with Operations / Processing Services teams to ensure timely and accurate processing of premiums
• Contributing to an effective team environment by interacting professionally with all team members and providing development, support and assistance as required.
• Demonstrating behaviour at all times in line with the Liberty core values.
• Updating and maintaining various logs and preparing reports as required.
• Assisting in audits as required.
• Ensuring compliance with all legal, statutory and corporate affairs requirements on a timely basis.
• Taking responsibility and showing initiative in the development of your technical and soft skills.
• Continuing to seek improvement of the product and of self by the continuous improvement of practices and processes.
• Performing other related duties as assigned by your manager or other appropriate officer.
• Responsible for maintaining and overseeing renewal listings and ensuring all processing and pre-renewal activity is completed according to SLAs

Role Competencies

• Moderate relationship building skills – internal and external
• Strong verbal and written communications skills
• Moderate negotiation skills
• Moderate selling skills
• Strong ability to drive for results and focus on outcomes
• Advanced prioritisation and time management skills
• High ability to manage through IT systems
• Strong analytical skills
• Moderate Business, financial and market acumen awareness/understanding
• Moderate Investigative, inquisitional and research skills
• Moderate ability to identify opportunities
• High ability to show initiative and be proactive
• High ability to form quality opinions and make sound decisions based on logical reasoning

Job Experience & Skills

• Previous relevant experience in the General (non-Life) Insurance industry.
• Previous relevant experience in an aligned role with a broker or insurance company.
• Excellent working knowledge of PC based systems and applications such as Outlook, Microsoft Word, Excel, PowerPoint and database systems for managing contacts, schedules and calendars is required.
• Actively pursuing professional insurance designations such as ACII/AAII or equivalent designation preferred
• Tertiary qualifications in a related discipline would be desirable.