Description Take the next step in your career with us. Allied World is an ideal place for talented professionals who are driven by a belief in the value of collaboration and the power of knowledge.
We believe that when our great people work together and support one another, our clients receive the best solutions. We embrace unique perspectives and empower each person to grow through professional development, career training and mentoring programs.
Our people are our most important asset, and we are very proud of the quality of our team members.
Job Summary: This role involves underwriting commercial package and personal packages as per the agreed processes and risk appetite to achieve financial targets. The position will require the employee utilizing the methods necessary to meet projected profitability, GWP, and expense goals, management and growth of the overall portfolio of business, implementing proper underwriting disciplines/guidelines, marketing and servicing to existing and potential clients. The position will also require the administration and monitoring of underwriting rules and guidelines, insurance laws and regulations, and rating rules and models.
In addition, the employee will be required to provide technical guidance, assistance and training to lower-level associates and distribution channel underwriters.
Job Duties: - Underwriting functions including underwriting submission review, pricing analysis, setting of terms and conditions, and quote/binder/invoice authorizations
- Execute approved SME Package business plan to establish and develop balanced and diverse book of business in accordance with underwriting guidelines
- Set appropriate terms and conditions following the Company's business strategy to quote selected risks
- Exercise proper underwriting pricing and discipline to meet profitability goals, complying with underwriting guidelines, systems and procedures
- Providing advice and guidance to the production of new policy wordings or reviews of existing policy wordings to ensure policy documentation is current and accurate
- Develop account pricing and underwriting recommendation for referrals that are outside authority
- Mentor junior underwriting staff which includes, but is not limited to, training and development
- Be the referral point for Hong Kong underwriters (within your respective authority) and provide guidance and coaching to less qualified and/or experienced colleagues to address technical referrals and raise standards and expertise across the technical community
- Maintain underwriting files in an orderly manner and in accordance with the underwriting guidelines, including maintenance of all reporting systems for submissions and bound accounts, rate change modelling, bound account listing, submission log and reports as may be developed
- Conduct pre-quote and mid-term underwriting audits as needed
- Expand existing portfolio of business by developing existing relationships and new prospective clients, driving the development and exploitation of marketing activities and product development initiatives to increase penetration of existing customers and /or expand the business mix
- Interact with existing and prospective clients, brokers, re-insurers and other business partners in support of the business
- Liaise with Distribution, Internal Auditors, Claims, Actuarial, Accounting, IT and Legal departments as appropriate
- Assist Department head on weekly premium projections and preparation for strategic planning and budgeting
- Take on additional responsibilities as required
Qualifications Essential Requirements: - Professional industry qualifications / accreditations preferred
- Minimum 5-10 years of relevant General Insurance underwriting experience, preferably a focus on Commercial Property or Commercial Package underwriting
- Strong fundamentals in underwriting principles, pricing, and knowledge of policy wordings
- Strong connections in the market with intermediaries
- Ability to develop ideas, methods, procedures, products, determines cause and developing effective solutions
- Ability to plan, prioritize, and organize work; effectively resolve conflict among priorities
- Ability to maintain a high level of professionalism, integrity and trust
- Ability to interface with employees and management at various levels within AW; strong interpersonal skills and the ability to work within a team
- Ability to provide guidance, assistance and training to lower-level associates
- Strong marketing, negotiation and presentation skills
- Strong verbal and written communication skills
- Ability and willingness to work outside normal office hours and travel as required
- Candidate with less experience will be considered as Senior Underwriter / Underewriter
*All information collected from applicants will be kept in accordance with Allied World Assurance Company, Ltd's (Hong Kong branch) privacy and security policy.
Working at Allied World Our team of over 1,400 professionals has deep expertise in the industry. They enjoy their work, and many have served for several years. This is what you can expect when you join us:
- Instant membership in the Allied World Family - a global network of colleagues who will support your career journey
- A manager who will help you build your career through a structured coaching program
- Access to a full suite of learning and development tools and resources
Global Presence We are headquartered in Bermuda, with offices in Atlanta, Boston, Chicago, Costa Mesa, Dallas, Dublin, Farmington (CT), Hong Kong, London, Los Angeles, Malaysia, Miami, New York, Philadelphia, San Francisco, Singapore, Sydney, Toronto and Zug.
Our Business Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions. We operate under the brand Allied World and have supported clients, cedents and trading partners with thoughtful service and meaningful coverages since 2001. We are a subsidiary of Fairfax Financial Holdings Limited, and benefit from a worldwide network of affiliated entities that allow us to think and respond in non-traditional ways.
Allied World is an equal opportunity employer. Subject to applicable law, all qualified applicants will be considered for employment without regard to race, color, religion or belief, gender, age, disability, military service, marital or civil partnership status, family status, sexual orientation, ethnic or national origin, genetic information or any other characteristic protected by applicable law or regulation in the relevant jurisdiction where we operate.
To learn more, visit awac.com, or follow us on Facebook at facebook.com/alliedworld and LinkedIn at linkedin.com/company/allied-world.