Senior Underwriter, Liability

Allianz Commercial; Singapore; Hybrid; SGD 120,000 - 180,000; Full time

Benefits offered by this job

Hybrid working model

Private healthcare

Pension

Job summary

Allianz Commercial in Singapore is seeking an experienced liability underwriter to underwrite profitable new and renewal business, negotiate participation, pricing and terms, and own key accounts while strengthening broker and client relationships.

You will work locally and regionally to meet LoB targets, ensure contract certainty, apply global pricing tools, and support underwriting strategy and leadership, including coaching junior underwriters, with a hybrid working model.

Qualifications

• Proven track record in underwriting profitable liability business.
• Strong relationships with brokers at peer group level.
• Good understanding of regional/local liability insurance markets and regulatory framework.

Responsibilities

• Underwrite profitable new and renewal accounts to meet targets.
• Negotiate participation, pricing, and terms with brokers.
• Underwrite International Insurance Programs for relevant LoBs.
• Ensure contract certainty at inception and use global pricing tools.
• Policy documentation and file maintenance.
• Support development and execution of regional underwriting strategy.
• Acquire new business and retain existing business; liaise with Distribution Management.
• Build and maintain strong relationships with brokers and clients.

Skills

Underwriting

Negotiation

Relationship management

Communication & presentation

Influencing skills

Analytical skills

English fluency

Risk assessment

Pricing & market management

Contract drafting

Policy management

AI tools usage

Education

Business Management, Actuarial, Insurance/Risk Management degree

CII professional qualification

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.

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 oplacing 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

• 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.

106893 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent

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.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

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.

Join us. Let's care for tomorrow.

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]