Head of Underwriting

3 weeks ago

Riyadh, Ar Riyāḑ, Saudi Arabia INTELLIGENT SOLUTIONS Full time

General Overview:


Our client, a leading insurer in Saudi Arabia, is looking to hire a Head of Underwriting (P&C) to join their team in Riyadh, KSA.

The successful candidate will lead P&C Underwriting by directing overall portfolio risk assessment, underwriting automation activities, and assessing client profiles to appropriately generate premiums.

Key Responsibilities:


To perform client or prospective client insurance policy audits/gap analysis/risk profiling that include the provision of comments and recommendations in a report form.

Build a risk profile for a company with varying business lines and then design a risk transfer insurance programme to mitigate and/or eliminate those risks.

To pro-actively drive the establishment of a client's Contractual Risk Management practice and to provide Contractual Risk Management consultative services to clients.

To provide specialist input to the internal Risk Management process and practice and thus enable the development and improvement of Best Business Practices/Business Operations.

Broad range of insurance knowledge encompassing various classes of insurance with an emphasis on Material Damage covers including but not limited to Operational and Construction risks and Casualty lines including but not limited to Professional Indemnity.

Manage market facing underwriters who proactively seek renewal and new account opportunities.
Identifies new growth opportunities with key distributors for areas of responsibility.
Ensure that accounts are qualified, and meet with the organization's appetite, balanced with sound business opportunity.
Ensure cross-sell within areas of responsibility to increase product density with the account.
Mentor staff to develop strong broker and client networks as related to industries underwritten by Business Unit.
Identify market trends and coverage's exposures that may impact business results.
Work with actuarial to insure a proper rate / price structure.

Manage relationships with producers by conducting line of business, book of business, class, and segment analysis to ensure profitability and growth.

Market company products and services through agency plant and brokerage community.

Support development and maintenance of agent/broker relationships to achieve profitable growth, market share, product mix, new business, and account retention.

Improve customer relations, profitability, and productivity by continually analyzing branch office ́s new business, loss ratio, expense ratio, loss frequency, agency distribution, product mix to determine its impact on other business units.

Review agency books of business as well as profit/growth results and trends to recommend and implement action plans.

Translate business objectives into clearly defined business cases, costs, or schedules, determining technical pricing to meet the aims of the underwriting business plan.

Lead the implementation of projects for a function or business area to deliver defined objectives with allocated resources and in timescales typically of less than one year.

Monitor and oversee portfolio exposure, taking appropriate action to ensure no limits have been breached and full compliance with relevant regulations.

Contribute to and implement agreed technical standards, controls, practices, and procedures thereby maintaining the integrity of the underwriting function.

Develop and propose action plans for improvement in dealing with complex customer cases in response to business partner and customer feedback to enable the organization to meet their needs.

Provide expert advice within specialized areas of underwriting to key stakeholders/customers to identify and deliver solutions that benefit the organization and their customers.

Use insights from customers, distributors, and their own technical expertise to develop new or enhanced propositions that meet customer needs.

Support the design and implementation of rating tools and methodologies to deliver value to customers within their own area, ensuring they are commercially viable.

RequirementsRelevant 15+ underwriting experience in insurance companies.
ACII, CPCU/ FIII / AIII qualification preferred.
Excellent understanding of the company propositions.
Strong understanding of the marketplace.
Excellent understanding of the data.
Effective communication.
Account planning and management.
Securing new business.
Sound use of judgement.
Ability to deliver results.

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