Trainee Underwriter

Liberty Specialty Markets; Singapore; On-site; SGD 40,000 - 60,000; Full time

Job summary

Liberty Specialty Markets in Singapore is seeking a Trainee Underwriter to develop functional knowledge and contribute to the underwriting department. You will assist in maintaining strong relationships with brokers and clients while learning underwriting processes.

The ideal candidate will have a tertiary qualification in Business, Economics, or Finance, and be proficient in Microsoft Office applications. This position offers a supportive environment to develop both technical and soft skills.

Qualifications

• Strong understanding of underwriting processes and insurance products.
• Excellent working knowledge of PC based systems such as Outlook, Microsoft Word, Excel and PowerPoint.

Responsibilities

• Provide support in maintaining relationships with brokers and clients.
• Assist the underwriting team in reviewing, rating and underwriting new and renewal business.
• Learn and apply selling and negotiation strategies to contribute to profitability.
• Ensure a high level of underwriting service for brokers and clients.

Skills

Excellent knowledge of Microsoft Office

Communication skills

Negotiation skills

Education

Tertiary qualifications in Business, Economics or Finance

Job description

Liberty's Financial Risk Solutions team is a leading provider of insurance coverage, delivering tailor‑made credit and political risk solutions to corporate and financial institutions across the world. Our team consists of expert underwriters and analysts with diverse backgrounds and experience – based in London, Paris, Singapore, Melbourne, New York, Chicago and Washington DC – with specialist skills and an understanding of global financial and political risks. Our global client base includes government agencies, international banks and multi-national companies.

Under close supervision, the Trainee Underwriter develops functional knowledge and skills to contribute to the growth and profitability of assigned specialty line(s) through pre‑underwriting, marketing, and managing of products and services of standard risks. Works within defined limits and authorities on assignments of low complexity. Some risks may require special handling or unusual coverage.

Key Responsibilities

• Providing support in maintaining strong relationships with brokers and clients to facilitate the marketing and sale and training of the Liberty brand and products.
• Assisting the underwriting team in the process of reviewing, rating and underwriting target new business and renewal business in line with Liberty’s quality selection and adequate pricing guidelines.
• Learning and practical application of selling and negotiation strategies to ensure contribution to the profitability of assigned specialty product line(s).
• Ensuring that brokers and clients receive a high level of underwriting service that differentiates Liberty from its competitors.
• Ensuring a thorough understanding of Liberty's product offerings.
• Developing an ability to compare and articulate differences in marketing wordings.
• Providing input where possible into product development and marketing plans including market research, competitor analysis, product design and geographic/segment focus.
• Reviewing and negotiating policy terms and conditions including assisting with the production of manuscript policy wordings and endorsements.
• Participating in the execution of marketing plans.
• Learning and practical application of Liberty operations and business process flows.
• Assisting in ensuring premium payments are received and discrepancies investigated in a timely manner by referring to Debtors report from Finance department.
• In conjunction with other more senior Underwriting employees represent Liberty at industry social events, conferences and other relevant market related presentations.
• Building the Liberty Brand and own profile within the market.
• Working closely with claims department, risk management and all other key internal stakeholders to promote Liberty’s “integrated business unit approach” and ensure seamless delivery of underwriting services.
• Contributing to an effective team environment by interacting professionally with all team members and providing development, support and assistance as required.
• Demonstrating behavior at all times in line with the Liberty core values.
• Updating and maintaining various logs and preparing reports as required.
• Assisting in audits as required.
• Ensuring compliance with all legal, statutory and corporate affairs requirements on a timely basis.
• Taking responsibility and showing initiative in the development of your technical and soft skills.
• Continuing to seek improvement of the product and of self by the continuous improvement of practices and processes.
• Performing other related duties as assigned by your manager or other appropriate officer.

Experience & Skills

Tertiary qualifications in Business, Economics or Finance related degree is preferred

Excellent working knowledge of PC based systems and applications such as Outlook, Microsoft Word, Excel, PowerPoint and database systems for managing contacts, schedules and calendars is required.