Head of New Business & Underwriting

Prudential plc; Singapore; Remote; SGD 100,000 - 150,000; Full time

Job summary

A leading financial service provider in Singapore seeks an experienced manager to lead a performance team responsible for assessing medical and financial risks for insurance policies. This role encompasses strategic project management, team leadership, and collaboration with various stakeholders to enhance operational effectiveness and compliance with industry standards.

Qualifications

• Experience in overseeing new business departments
• Strong decision-making skills aligned with underwriting standards
• Ability to collaborate with internal and external stakeholders

Responsibilities

• Oversee the New Business department and troubleshoot issues.
• Set KPIs for the department and evaluate staff performance.
• Drive new business strategies and initiatives.

Skills

Leadership

Risk Assessment

Team Management

Job description

Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact on the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Role Purpose:

To lead a performance team responsible for assessing medical and financial risks of applicants for life and health insurance policies, ensuring compliance within the regulatory framework. Set departmental objectives and drive strategic projects related to innovative working methods. This role reports to the Head of Operations and collaborates with internal and external stakeholders to evaluate potential clients' risks.

Role Duties & Responsibilities:

1. Oversee the New Business department and troubleshoot issues related to new business applications.
2. Set KPIs for the department and evaluate staff performance.
3. Drive new business strategies and initiatives to ensure departmental sustainability.
4. Lead and motivate the New Business team to meet company performance targets.
5. Implement process improvements supporting new ways of working.
6. Develop new underwriting guidelines and rules to enhance customer-centric underwriting and buying experience.
7. Review and make decisions within authority, aligned with underwriting standards and market trends.
8. Engage with distribution channels regarding updates, feedback, and complaints.
9. Coach team members to upgrade technical competencies.
10. Collaborate with internal and external stakeholders on regulatory guidelines and industry mandates (e.g., LIA, MOH, reinsurers, legal, compliance, actuaries, distribution).
11. Review and update internal processes, guidelines, and practices to ensure relevance and compliance with industry standards.
12. Support Financial Consultants on underwriting and administrative processing related to new business applications.
13. Manage resources, including recruitment, training, and retention of talents.
14. Set, monitor, and manage the department budget.

Key Performance Indicators:

1. Achievement of operational financial and strategic KPIs.
2. Successful implementation of new initiatives and services supporting innovative working methods.

Prudential is an equal opportunity employer. We provide equal benefits and opportunities regardless of sex, race, age, ethnicity, education, social or cultural background, marital status, pregnancy, religion, disability, part-time or fixed-term work, or any other protected status. We support reasonable adjustments for individuals with physical or mental health needs.