Senior Underwriter, Liability

Allianz Commercial; Singapore; Hybrid; SGD 70,000 - 90,000; Full time

Job summary

A leading insurance firm in Singapore is seeking an experienced underwriter for their Liability Line of Business. The role involves underwriting profitable new and renewal business, managing client accounts, and negotiating terms with brokers. You will need a degree in a relevant field and a strong understanding of the regional insurance market. The company offers a hybrid working model, competitive compensation, and opportunities for career development and progression.

Benefits

Flexible working arrangements

Generous bonus scheme

Private healthcare

Career development programs

Qualifications

• Proven track record in Underwriting profitable business in the Liability LoB.
• Established relationships with brokers at peer group level.
• Good understanding of regional/local LoB insurance markets.

Responsibilities

• Underwrite new and renewal accounts to meet targets.
• Ensure contract certainty and appropriate pricing tools are utilized.
• Support development and execution of regional Underwriting strategy.

Skills

Risk Assessment and Management

Contract Drafting and Interpretation

Communication & Presentation

Analytical Skills

Fluent in English

Education

Degree in Business Management, Actuarial, or similar

Completion of professional insurance qualification (e.g. CII)

Job description

Job Purpose / Role

This role is based in Singapore. You are responsible for underwriting profitable new and renewal business to meet Liability Line of Business (LoB) targets locally/regionally. You will take ownership of accounts/clients, including negotiation of participation, pricing, and terms and conditions. You will also develop and maintain strong relationships with brokers and clients.

Key Responsibilities

Underwrite Profitable Business

• Underwrite new and renewal accounts to meet top and bottom line targets (local and/or regional). Negotiate participation, pricing, and terms and conditions with brokers.
• Underwrite International Insurance Programs (for relevant LoBs).
• Proactively manage capacity.

Underwriting Approach and Compliance

• Underwrite in line with LoB governance framework – e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles.
• Ensure contract certainty is achieved on all accounts at time of inception.
• Ensure utilization of global pricing tools.
• Ensure placement and binding of PAC Reinsurance prior to policy inception.

Policy Documentation and Administration

• Ensure accurate policy documentation issued to broker (where Allianz Commercial responsibility to do so) or broker has issued documentation (where broker responsibility).
• File maintenance – ensure file is established (where electronic or paper) and maintained for each risk and transaction handled.
• Proactively support completion of policy administration and credit control processes.

Supporting Underwriting Strategy & Leadership

• Support development and execution of regional Underwriting strategy for LoB regionally.
• Training, developing and coaching of less experienced staff (including junior underwriters, operations, credit control).

Market Management

• Proactively support acquisition of new business and retention of existing business (including broker and client negotiations where necessary).
• Proactively liaise with Distribution Management team on market management initiatives.

Relationship Management

• Positively represent Allianz Commercial externally to the market.
• Proactively drive involvement of functional areas in Underwriting process, including e.g. Distribution Management, Risk Consulting, Claims and Operations.
• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders.

Required Experience

Key Experience / Requirements / Skills

• Proven track record in Underwriting profitable business in the Liability LoB. Candidates with good understanding of LoB products and portfolio in the Pharmaceutical sector preferred.
• Demonstrable, established relationships with brokers at peer group level and established within market.
• Good understanding of regional / local LoB insurance markets and competitor landscape.
• Understanding of legal and regulatory framework.
• Experience working in complex, global matrix organization.

Required Education

• Preferably a degree in Business Management, Actuarial, Insurance/Risk Management or other appropriate discipline.
• Completion of professional insurance qualification (e.g. CII).

Technical Skills

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB.
• Pricing and Market Management: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs.
• Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings.
• Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
• The ability to utilize AI tools to support day-to-day tasks, improve efficiency, and contribute to data-driven decision-making is valuable.

General Skills

• Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally. Ability to "sell" an improvised or prepared audience winning story.
• Influencing skills: Ability to persuade and motivate others to act, without executive authority.
• Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
• Fluent in English. Fluency in any other local language is a plus.

What’s in it for you?

Let’s Care About Everything That Makes You, You

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Recruitment Agencies:

Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

People With Disabilities: We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email [e-mail].

Join us. Let’s care for tomorrow.