Senior Underwriter, Construction

Job Purpose/Role: 

This role is based in Singapore. You are responsible for underwriting profitable new and renewable business with a key focus on Construction Line of Business (LoB) to meet regional targets. You will take ownership of large accounts/clients including negotiation of participating, pricing and terms and conditions. You will be involved in the training and development of the team and be a referral point for underwriters. You will develop and maintain strong relationships with brokers and clients. 

Key Responsibilities: 

Underwrite Profitable Business 

• Underwrite large new and renewal accounts to meet top and bottom-line targets, with specialized technical expertise for Construction Line of Business. 

• Negotiate participation, pricing and terms and conditions with brokers. Proactively manage capacity. 

• Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LoBs). Underwrite Multinational Programs. 

Underwriting Approach and Compliance 

• Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, Underwriting Guidelines, Rules and Principles. 

• Ensure contract certainty is achieved on all accounts at time of inception. 

• Ensure utilisation 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 it is Allianz's responsibility to do so) or broker has issued documentation (where broker responsibility). 

• File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled. 

• Proactively support completion of policy administration and credit control processes. 

Underwriting Strategy & Leadership 

• Contribute to development and execution of regional Underwriting strategy for LoB regionally. 

• Training, developing and coaching of less experienced staff (including Underwriters). 

• Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate. 

Market Management 

• Proactively support acquisition of new business and retention of existing business for large clients (including client and broker negotiations where necessary). 

• Proactively liaise with Distribution Management team on market management initiatives. 

Relationship Management 

• Positively represent Allianz Commercial externally to the market with key brokers / distribution channels. 

• Proactively drive involvement of functional areas in Underwriting process, including e.g. Distribution Management, Risk Consulting, Claims and Operations. 

• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders. 

Key Experience / Requirements / Skills: 

Required Experience 

• Specialized technical expertise in Construction Underwriting is a must. Experience in Power and Green Energy would be advantageous. 

• Recognized relationships with brokers at peer group level and well established within market. 

• Specialized understanding of regional / local LoB insurance markets and competitor landscape, including global elements. 

• Good understanding of legal and regulatory framework. 

• Experience working in complex, global matrix organization. 

Required Education 

• Preferably a degree in Engineering or other appropriate discipline. 

• Completion of professional insurance qualification (e.g. CII). 

Technical Skills 

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB. 

• 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. 

Languages 

• Fluent in English. Fluency in any other local language is a plus.