Underwriter (P&C Commercial Lines)

Who we are:

GIG Gulf (a Fairfax company) is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 12 markets including the United Arab Emirates, Bahrain, Oman, Qatar, Saudi Arabia, Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, and Turkey. GIG Group reported consolidated assets of US$ 3.83 billion and $69 million net profit for the year 2023. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets.

GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation

GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way

Job purpose

se:To profitably underwrite and develop P&C Commercial Lines business for new and existing clients and support the Business Development Managers in maximizing the flow of new business and increasing the success rate of prospects. Coordinate and execute end-to-end underwriting operations and policy production as per the Company’s guidelines, with a key focus on client retention, growth, and achieving targeted profitability level

Key Responsibilities:

• Manage and maintain the allocated non-motor commercial portfolio to achieve renewal retention targets in line with team targets.
• Underwrite, price, accept, and issue policies and renewals within the Company’s risk appetite, underwriting guidelines, and authority limits
• Prepare quotations and underwriting terms for new business and renewals, ensuring adherence to delegated authority limits and regulatory frameworks
• Ensure all policy and related documents are dispatched and delivered to the clients or brokers within the shortest possible time in line with the service-level agreement where applicable
• Provide support for all P&C Commercial Lines (Property, Engineering, Liability, Casualty, Motor, and Marine) to Business Development Managers
• Analyze existing client portfolios to identify opportunities for cross-selling and upselling
• Support in client and broker meetings, presentations, and negotiations to secure new business
• Assist in cross-selling and upselling additional insurance products and services to existing clients
• Ensure timely production of accurate commercial policies in accordance with client or broker agreements.
• Maintain thorough knowledge of P&C products, policy wordings, risk assessment processes, and market conditions
• Coordinate with internal teams, such as claims, risk engineering, credit control, and compliance, to ensure seamless operations and policy servicing
• Support in developing and maintaining a pipeline of potential clients through networking, referrals, market research, market trends, and competitor activities
• Build and maintain strong relationships with clients, brokers, and other business channels, ensuring excellent communication and service delivery
• Support the SME sales team with underwriting expertise, providing guidance on risk selection and pricing for other than pre-underwritten products
• Ensure all activities comply with regulatory requirements, internal policies, and underwriting guidelines
• Continuously seek ways to improve processes and enhance operational efficiency
• Maintain and update all required records and registers
• Perform any other duties as required to support the Company’s activities and overall strategic direction.

Essential Requirements:

• A minimum of 5 years of experience in the insurance industry, particularly in underwriting P&C Commercial Lines (with a strong focus on Property, Engineering, Liability, Casualty, Motor, and Marine products
• Proven experience in managing and developing client portfolios, delivering underwriting solutions in line with company guidelines
• Understanding of policy wordings, risk assessment, and pricing
• Familiarity with local and international insurance regulations and market practices
• Communication, negotiation, and relationship-building skills
• Bachelor’s degree