We are now seeking an experienced Underwriter to join our team on a permanent basis. The ideal candidate will have significant P&I underwriting experience, be enthusiastic and a quick learner with a desire to develop in a friendly and supportive Insurance company.
Overall responsibility of the Role
To underwrite the Club’s business providing a liability solution to cover the operational needs of the Members.
- To ensure the correct assessment of risk in accordance with the underwriting guidelines set out in the Underwriting Procedures Manual.
- To fully adhere to the Underwriting Procedures Manual and all processes therein.
- To ensure that high levels of service to Members and brokers are achieved and maintained, including prompt and accurate issue of Members’ documentation.
- To develop and maintain relationships with Members and Brokers to ensure the retention and development of the portfolio for the mutual benefit of the Club.
- To identify, attract and develop new business opportunities that are of mutual benefit to the Association.
- To continually monitor and analyse the performance of business within the portfolio, highlighting and addressing areas of concern that require action.
- To ensure all outstanding premium is paid prior to binding of renewals in conjunction with the finance team.
- Responsible for approving and ensuring the correct issuance of blue cards.
- To share knowledge, information and experience across the Underwriting team.
- To develop the skills and knowledge required for the effective performance of the role by participating in and actively contributing to training and development activities.
- To ensure sanctions screening has been undertaken on Members, other named parties and all vessels, and any hits resolved, prior to binding cover or processing MTA’s.
- To complete a minimum 15 hours Continuous Professional Development annually.
Role Specific Technical Skills and Knowledge/Qualifications
- Good understanding of the Club’s Strategy, Vision, aims, objectives, structure and finances.
- Full working knowledge of the Rules of the Association, Plain Language Policies and additional covers and understanding of their structures.
- Comprehensive knowledge of all the factors involved in risk assessment.
- Technically competent in all aspects of standard and additional P&I, LCC, PA & MKT covers and able to apply that competence to the underwriting of all risks in designated areas.
- Able to analyse a contract assessing the indemnities and insurance requirements confidently and to decide whether poolable or not, and whether contractual R/I is necessary.
- Knows and applies the rating range appropriate to the risk.
- Knows what type of tonnage may be underwritten for the mutual benefit of the membership.
- Good working knowledge of the IGA and pooling agreement.
- Detailed working knowledge of the Club’s systems and processes including the Underwriting Procedure Manual to ensure efficient and compliant service delivery.
- Ability to express contractual issues and associated cover points relating to the requirement for additional cover clearly and consistently to Members and Brokers and to determine whether additional coverage is required.
- Negotiation skills to achieve mutually beneficial outcomes.
- Relationship building skills to nurture Member and broker relationships and market knowledge in designated areas through regular visits and continuous communication.
- Ability to confidently market the Club in new business opportunities.
- Good Working understanding and usage of the Clubs AMP/CRM systems.
- To Underwrite Business we can be proud of and which continues to be for the Mutual benefit of the Membership.
Candidate must be eligible to work in Singapore