Assistant Manager – Marine Underwriting

Location: Singapore

Department: Commercial Lines

Type: Full Time

Min. Experience: Experienced

Liberty Insurance Singapore is a 100% owned strategic business unit of Liberty Mutual Insurance Group. Headquartered in Boston, Liberty Mutual Insurance Group is a diversified global insurer and the 5th largest property and casualty insurer in the U.S based on 2015 direct written premium. It ranks 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. As of 31 December 2015, Liberty Mutual Insurance Group had US$121.7 billion in consolidated assets, US$102.5 billion in consolidated liabilities and US$37.6 billion in annual consolidated revenue.

Liberty Mutual Insurance Group operates with a global view across five continents and employs more than 50,000 employees in approximately 800 offices throughout the world.

Due to the growth of our business in Singapore an exciting opportunity has arisen for a Assistant Manager – Marine Underwriting  to join our team in the Singapore office.

Responsibilities

  • Establish and maintain strong relationships with the existing intermediaries and  direct clients
  • Solicit business and develop relationships within current distribution channels and establish new distribution partners
  • Ensures the achievement of continued profitability, growth and operational efficiencies for Marine business through assessment of risk tolerance, market appetite, work flows and emerging risk issues
  • Determine unit strategy including possible new products and product revisions via research, analysis and development of insurance products or distribution channels.
  • Underwrite renewal business including appropriate exposure/control analysis, negotiation with producers and delivery of accurate and concise issuance instructions
  • Provide product analysis and market intelligence
  • Review and negotiate policy terms and conditions including manuscript wording.  Develops negotiation strategies.
  • Place facultative reinsurance with approved securities as necessary
  • Promote and assist with the implementation, consistent operation and of policies and procedures
  • Ensure all policy documentation is processed and signed on a timely basis 
  • Develops and maintains underwriting guidelines and best practices, in accordance with all legal, statutory and corporate affairs requirements on a timely basis.
  • Evaluates underwriting performance based on financial analysis. Includes rate, reserve adequacy, operational, planning and product reviews. Provides results to members of the senior management team and develops plans to resolve issues
  • Provides overall direction for underwriting authority delegation  and audit criteria
  • Lead and assist Marine Underwriters to achieve plan

Requirements

  • Bachelor’s Degree/ Professional Insurance qualification
  • 6  years of relevant working experience in Insurance specifically Marine Cargo
  • Familiar with local market mechanisms, practices and also key intermediaries.
  • Sound technical expertise coupled with good business sense
  • Strong relationship building focus with a marketing perspective and solid technical knowledge and underwriting skills within the Marine field
  • Ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team
  • Strong leadership capabilities
  • Ability to drive results by identifying, and resolving problems within scope of responsibility
  • Knowledge of the marine and general insurance intermediary market
  • Strong verbal and written communications and organizational skills.
  • Strong negotiation, analytical and decision making skills also required.
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