Sr. Underwriting Officer
Date: 27 Nov 2024
Location: KW
Company: Alghanim Industries
Job Summary
Senior Underwriting Officer, play a pivotal role in the underwriting process, assessing risk, and determining appropriate coverage for clients. This position requires a deep understanding of UW principles, policies, and regulations, as well as excellent analytical and decision-making skills.
Job Responsibilities
- Arabic & English Policy issuances ; including but not limited to quotations, new policy issuance, midterm amendments and its proper entries on premium systems
- Risk Assessment: Evaluate insurance applications, assess risk factors, and determine the level of coverage required based on underwriting guidelines.
- Policy Analysis: Review and analyze policy documents, endorsements, and proposals to ensure accuracy and compliance with company standards.
- Underwriting Guidelines: Adhere to underwriting guidelines, rating manuals, and regulatory requirements to maintain consistency and minimize risk exposure.
- Pricing: Determine appropriate premium rates for policies based on risk assessment, market trends, and company profitability objectives.
- Negotiation: Collaborate with brokers, agents, and clients to negotiate terms and conditions of insurance contracts, including coverage limits, deductibles, and pricing.
- Portfolio Management: Monitor and manage an assigned portfolio of policies, ensuring proper documentation, renewal processing, and ongoing risk assessment.
- Client Interaction: Build and maintain strong relationships with clients, brokers, and other stakeholders, providing excellent customer service and addressing inquiries and concerns promptly.
Candidate Requirements
University degree
Preferred Bilingual
Excellent analytical skills
Proficiency in using software, Microsoft Office Suite, and other relevant tools.
Effective communication and negotiation skills, with the ability to interact confidently with clients and stakeholders.
2-4 years must be in claims role of related experience