Job Summary
The Non-Life Insurance Underwriter is responsible for evaluating insurance applications, assessing risks, determining appropriate coverage, and setting premiums, terms, and conditions. The role requires strong analytical judgment, attention to detail, and the ability to balance business growth with the company's risk appetite and underwriting guidelines.
The Underwriter will work closely with brokers, agents, clients, claims teams, risk engineers, and internal stakeholders to review new business, renewals, policy amendments, and complex insurance risks.
Key Responsibilities
- Review and assess insurance applications for non-life insurance products.
- Evaluate the level of risk based on client information, claims history, financial data, inspection reports, and other relevant documents.
- Decide whether to accept, decline, or modify insurance applications.
- Determine appropriate premiums, deductibles, coverage limits, exclusions, and policy conditions.
- Underwrite new business, renewals, endorsements, and policy amendments.
- Ensure underwriting decisions comply with company guidelines, risk appetite, authority limits, and regulatory requirements.
- Analyse loss ratios, claims trends, portfolio performance, and market conditions.
- Negotiate terms and pricing with brokers, agents, clients, and business partners.
- Provide clear explanations and recommendations regarding underwriting decisions.
- Coordinate with claims, actuarial, risk engineering, finance, legal, and compliance teams.
- Maintain accurate underwriting records and documentation.
- Monitor existing accounts and identify changes in risk exposure.
- Support business development by building strong relationships with brokers, agents, and clients.
- Assist in developing underwriting strategies, pricing guidelines, and portfolio management initiatives.
- Stay updated on industry trends, regulations, emerging risks, and competitor activity.
Qualifications
- Bachelor's degree in Business, Finance, Economics, Mathematics, Statistics, Insurance, Risk Management, or a related field.
- Relevant experience in non-life insurance underwriting, broking, claims, actuarial work, or risk assessment.
- Knowledge of insurance policies, underwriting principles, pricing, coverage, exclusions, and claims processes.
- Understanding of local insurance regulations and compliance requirements.
- Professional insurance qualifications or certifications are an advantage.
