Financial Lines Underwriter

Primary Responsibilities

Developing and executing strategies for the Financial Lines team products to to ensure targets are met through sustainable underwriting.

Underwriting accounts and schemes both for renewal and new business purposes as allocated.

Service clients and brokers across UAE.

Work on execution of Digital strategy and AIG ONE development.

Functions Key

Jointly responsible for executing the Financial lines business plans and budgets and carry out the appropriate functions within the business.

Establish/Maintain strong customer/industry relationships including Broker relationships at all levels with indigenous and international broking firms.

Underwriting Financial lines business including new and renewal business within authorities granted and in accordance with profit center guidelines.

Continual review and development of Products and development of new Products including associated Marketing material.

Ensure Reinsurance is arranged in accordance with current company guidelines where required.

Ensure credit control procedures are maintained and followed to company standards.

Attain appropriate levels of expertise in all product lines including changes and developments.

Complete all delegated projects in the manner expected and requested by the Financial Lines PCM and Team Leaders.

Full participation in local and regional training (underwriting and personal skills).

Undertake presentation to clients and/or brokers where required, including product specific training and pitching for business.

Undertake department s self-audit procedures as required.

Responsibility for monitoring of premium processing including: o Ensuring that estimates are met and that premiums are processed in a timely manner.

o Ensure that accounts are processed according to AIG guidelines and GST rules.

o Monitor receivables and unallocated cash and liaise with Accounts Department with regard to collections.

Work with Financial Lines PCM, Team Leaders and Regional Line Managers to ensure that strategies are developed and executed.

Develop and improve office systems and processes on an ongoing basis

Assist Financial Lines PCM with ongoing business analyst tasks such as assisting with quarterly and/or annual budgets, forecasting, submission tracking and another financial reporting task as allocated.

Job Accountabilities

• Risk Assessment: Evaluate insurance submissions requests to assess risk based on financial data, creditworthiness, and underwriting guidelines.
• Underwriting Decisions: Make informed decisions on accepting, modifying, or declining applications, ensuring alignment with risk assessment and company policies.
• Compliance: Ensure adherence to regulatory requirements, industry standards, and company underwriting guidelines in all decisions and actions.
• Communication and Customer service: Clearly communicate underwriting decisions, requirements, and explanations to agents, brokers, clients, and internal stakeholders. Provide them support and assistance by addressing inquiries, explaining underwriting decisions and resolving issues.
• Documentation and Record Keeping: Maintain accurate records of underwriting activities, decisions, and correspondence for auditing and reporting purposes
• Problem Solving: Identify and resolve complex underwriting issues, discrepancies, or challenges efficiently while maintaining quality and consistency.