Senior Underwriter, Engineering
Allianz Global Corporate & Specialty
Dubai
منذ 32 يوم

JOB PURPOSE / ROLE

Based in Dubai and reporting directly to the Head of Engineering, you will be in charge of underwriting profitable new and renewal business across the Engineering products.

You will also be expected to negotiate participation, pricing and terms and conditions. You will also be involved in developing and maintaining strong relationships with brokers, clients and cedants.

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 and cedants
  • Proactively manage capacity
  • Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of Scenarios
  • Underwriting Approach and Compliance

  • Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, global MSU
  • Ensure contract certainty is achieved on all accounts at time of inception
  • Ensure utilization of global pricing tools
  • Ensure placing and binding of FAC Reinsurance prior to policy inception
  • Policy Documentation and Administration

  • Ensure accurate policy documentation issued to broker (where AGCS responsibility to do so) or broker has issued documentation (where broker responsibility)
  • File maintenance ensure file is established and maintained for each risk and transaction handled
  • Proactively support completion of policy administration and credit control processes
  • Support Underwriting Strategy & Leadership

  • Support development and execution of regional Underwriting strategy for Engineering Line of Business regionally
  • Training, developing and coaching of less experienced staff (including junior underwriters and operations)
  • Keep up-to-date with current market, Allianz new product offerings and ensure collaboration with other Lines of Business where appropriate
  • Manage standard referrals from underwriters and re-underwrite complex business as appropriate
  • Delegate work as appropriate
  • Market Management

  • Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary)
  • Relationship Management

  • Positively represent AGCS externally to the market
  • Proactively drive involvement of functional areas in Underwriting process, including e.g. MMC, Allianz Risk Consultants, Claims, Operations
  • Develop and maintain strong relationships with key brokers, clients, cedants and other relevant stakeholders (e.g. risk managers)
  • KEY REQUIREMENTS / SKILLS / EXPERIENCE

    Required experience

  • Proven track record in Underwriting profitable business in the Engineering Line of Business ideally a mixture of EAR and CAR experience
  • Good understanding of Engineering products
  • Demonstrate established relationships with brokers at peer group level, and established within market
  • Understanding of the Middle East insurance markets and competitor landscape
  • Understanding of legal and regulatory framework
  • Experience working in a complex, global matrix organization
  • Required education

  • Preferably an Engineering related degree, Economics, Law or other appropriate discipline
  • Completion of professional insurance qualification (eg. CII)
  • Technical skills

  • Risk Assessment and Management : ability to assess risk inherent exposures and natural hazards relevant to product
  • 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
  • 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
  • ADDITIONAL INFORMATION

    AGCS is dedicated to offering its employees an environment open for learning and development and hosts its own Underwriting Academy to drive continued excellence in underwriting and to better understand and serve our clients’ needs.

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