Underwriting Associate

Beazley; Singapore; On-site; SGD 40,000 - 60,000; Full time

Job summary

A global insurance company in Singapore is seeking an Underwriting Associate for a 24-month graduate track. This role involves supporting Product Recall underwriters, monitoring portfolio profitability, and advising clients on insurance matters. Applicants should possess strong analytical skills, proficiency in MS Excel, and effective communication abilities. The ideal candidate will have a good understanding of commercial and financial knowledge while adhering to the company's core values of teamwork and ethical conduct.

Qualifications

• Strong analytical skills with attention to detail.
• Able to manage time, meet deadlines and prioritize.
• Good working knowledge of MS Office, advanced Excel skills.

Responsibilities

• Support and shadow your team to develop a profitable portfolio.
• Monitor premiums, costs, and claims ratios.
• Advise clients on insurance and risk matters.

Skills

Accurate and numerate

Good working knowledge of MS Office

Strong analytical skills

Effective communication

Time management

Motivational skills

Language proficiency in English

Mandarin (good to have)

Tools

MS Excel

Job description

Job description and person specification

Job Title: Underwriting Associate - 24 month graduate track

Division: People & Sustainability

Key Relationships: Brokers, underwriters, claims staff, coverholders, external clients and suppliers

Job Summary: To successfully complete the Beazley Underwriting Associate track. Complete the track curriculum and support and shadow Product Recall underwriters. Curriculum covers Underwriting Operations (UCO), Claims, Finance and Credit Control

Key Responsibilities:

Underwriting

• Support and shadow your team to:
  • Develop and underwrite a profitable portfolio of Product Recall business as part of the Specialty Risks team.
  • Structure tailor‑made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
  • Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
  • Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Comply with Beazley’s underwriting control standards
• Develop a good working relationship with all stakeholders in this class of business as well as within the broader Singapore office and APAC region.

Learning

• Complete the underwriting associate track curriculum.
• Obtain the CGI and ANZIIF Foundation in Insurance certifications.
• Contribute to the project work assigned to you throughout the duration of the track.

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
• Maintenance ofgood business relationships with brokers.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

Rotation within role

• Opportunity to learn all facets of underwriting, developing skillset across a variety of areas including Financial, Technical, Legal, Insurance & Reinsurance and Commercial
• Attachment to Underwriting and Claims Operations team
• Attachment to Finance & Credit Control team
• Attachment to the Claims team

General

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
• Develop best practice and disseminate business and class knowledge within the Product Recall team.
• Work with peers within Specialty Risks and other business lines to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
• Production of presentations and marketing literature as required.
• Production of research documents as required.

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification:

Skills and Abilities

• Accurate and numerate
• Computer skills – good working knowledge of MS Office, advanced Excel skills
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Ability to manage time, meet deadlines and prioritise
• Motivational skills
• Language Proficiency – English, Mandarin (good to have for supporting North Asia clients)

Knowledge and Experience

• General commercial and financial knowledge