Deputy Head of Commercial Lines

HL ASSURANCE PTE. LTD.; Singapore; On-site; SGD 80,000 - 120,000; Full time

Job summary

An established insurance company in Singapore is seeking an experienced professional to oversee the underwriting of commercial lines. Responsibilities include developing product strategies, managing pricing, and leading a team to achieve business targets. Ideal candidates should have a Diploma or Degree with 8-10 years of underwriting experience. The role also involves conducting market research, ensuring compliance with regulatory frameworks, and fostering stakeholder relationships. An attractive remuneration package is offered, along with various benefits.

Benefits

Attractive remuneration package

Variable performance bonus

Annual leave entitlement

Outpatient and dental benefits

Group hospitalization and surgical insurance

Personal accident and term life insurance

Qualifications

• Minimum 8-10 years of hands-on relevant experience in underwriting commercial lines including Fire, Property, and Public/Product Liability.
• Good understanding of regulatory frameworks and industry best practices.
• Ability to work within tight schedules and under pressure.

Responsibilities

• Assist in product strategies development to achieve production targets.
• Implement and manage effective pricing according to risk exposure.
• Handle risk assessment and underwriting decisions within specified turnaround time.
• Conduct market research and competitor analysis.
• Lead the commercial lines underwriting team to achieve business targets.

Skills

Excellent communication skills

Negotiation skills

Stakeholder management

Presentation skills

Resourcefulness

Education

Recognized Diploma or Degree in related discipline

Job description

Reporting to the Head of Commercial Lines, you shall be responsible to:

• Assist in product strategies development that will book growth and garner profitability to achieve production target.
• Implement and manage effective pricing to ensure that pricing is adequate to commensurate with the acceptable risk exposure.
• Handle risk assessment and underwriting of the assigned class of insurance business in accordance to the underwriting authority as delegated, to deliver underwriting decision within specified turnaround time.
• Liaise closely with insurance brokers, clients, agencies and agents to secure potential profitable business and achieve production targets.
• Conduct market research and competitors' statistical analysis of all product classes.
• Monitor portfolio performance, analyze trends, and recommend corrective actions to optimize profitability
• Understand and achieve synergies between risk underwriting, reinsurance and treaty programs
• Strategize business initiatives and campaigns with Distribution to drive new business acquisitions and retain renewal accounts.
• Drive new business acquisitions through intermediaries to potential customers through strong engagements, trainings and seminars.
• Design and execute high quality training and engagement programs with Distribution to educate intermediary partners on product portfolio and benefits offered by the Company.
• Lead, motivate, and develop the commercial lines underwriting team to achieve business targets
• Achieve assigned targets and KPIs for sales production and profitable portfolio. Proactively recruits new intermediaries to expand distribution network.
• Establish productive, professional relationships with key personnel in acquired intermediary accounts.
• Perform regular market research and competitor analysis to keep ourselves ahead of competition and to continuously innovate our market approach.
• Leads innovative solution projects that enhance user requirements and customer experience, while coordinating the involvement of all necessary stakeholders.
• Coordinates the involvement of company stakeholders, including support, service levels and processes to meet partner/client requirements and objectives.
• Proactively leads an annual joint-planning process to develop mutual performance objectives, financial targets, and critical milestones associated with our intermediaries.
• Foster excellent communication with internal and external stakeholders to drive distribution and operational efficiencies.
• Perform any other assigned duties from time to time.

Job Requirements

• A recognized Diploma or Degree in any related discipline, with professional qualifications in General Insurance
• Minimum 8-10 years of hands‑on relevant experience in underwriting commercial lines including Fire, Property, All Risk, Public/ Product Liability, CAR, WIC, GPA, GBT, and other groups.
• Excellent communication, negotiation, and stakeholder management skills
• Resourceful, independent and a fast leaner, able to grasp processes and system quickly
• Excellent presentation, communication, interpersonal and relationship management skills
• Good understanding of regulatory frameworks and industry best practices
• Able to work within tight schedule and under pressure

Other Information and Benefits

• 5-day work week (Mon – Fri, 9 am - 6 pm)
• Walking distance from Tanjong Pagar MRT
• Attractive remuneration package, variable performance bonus, annual leave entitlement, outpatient and dental benefits, group hospitalization and surgical, personal accident and term life insurance, etc.