Assistant Vice President, Segment Profit Centre - Commercial Lines

HYPERSCAL SOLUTIONS PTE. LTD.; Shenton Way; On-site; SGD 80,000 - 120,000; Full time

Job summary

A leading insurance firm in Singapore is seeking a Senior Underwriter for the Property & Casualty (P&C) division. The role involves developing business strategies, underwriting policies, and managing product distribution. The ideal candidate has at least 8 years of experience in commercial insurance and possesses strong negotiation skills. This position requires collaboration with governance and claims teams as well as knowledge of the Singapore insurance market.

Qualifications

• Minimum 8 years experience in senior insurance roles.
• Expertise in developing P&C products and business.
• Knowledge of Singapore P&C market.

Responsibilities

• Develop and implement business strategy for P&C segments.
• Negotiate and underwrite commercial accounts.
• Collaborate with governance and claims teams.

Skills

Commercial insurance underwriting

Portfolio Management

Digitalisation savviness

Interpersonal communication

Education

Tertiary qualification and professional insurance qualifications

Job description

COMPANY DESCRIPTION

A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.

A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer‑centric solutions. In 2023, 2022 and 2020, MSIG Singapore was awarded Insurance Asia Awards' Claims Initiative of the Year.

MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group – one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non‑life insurance groups in the world based on gross revenue.

RESPONSIBILITIES

• Develop and implement Property & Casualty (which includes Engineering, Construction, Bonds) business strategy, initiatives and plans; responsible for both the Topline and Bottomline of the P&C segments. This also includes product development, review of policy wordings and underwriting/Treaty guidelines, P&C platform development (if any) and management of distribution of P&C products and services across all distribution channels
• Liaise with BUs on referral accounts and prepare referrals to MA/HO/Treaty/CEO for approvals
• Ensure that reasonable TAT is achieved for the account to be replied to the BUs
• Ensure that prudent technical underwriting is conducted as well as balancing the business aspects of securing the accounts.
• Collaborate with Governance, Reinsurance, Actuarial and Claims teams to manage loss ratios
• Negotiate, underwrite, accept all accounts within RAA/RAG
• Develop and mentor other more junior underwriters / BUs and explain the decision taken for the accounts.
• Market engagements with the industry
• Ensure compliance with all laws, regulatory provisions and Group policies as are relevant to the role
• Undertake any other duties as may be assigned

QUALIFICATIONS

• Tertiary qualification and professional insurance qualifications

OTHER INFORMATION

• At least 8 years of experience in a senior / head level developing and underwriting Commercial insurance business and products
• Commercial Insurance business and underwriting, pricing, referrals, review of policy wordings and product enhancements
• Digitalisation savviness
• Portfolio Management
• Knowledge of distribution channels structure and good interpersonal liaison with them
• Singapore P&C market

Please note that your application will be sent to and reviewed by the direct employer – MSIG Insurance (Singapore) Pte Ltd