As a Senior Underwriting Officer, you will play a critical role in the underwriting process, evaluating risks and determining appropriate insurance coverage for clients. This role demands a comprehensive understanding of underwriting principles, policies, regulations, and excellent analytical and decision-making capabilities.
Job Responsibilities:
Policy Issuance (Arabic & English): Manage all aspects of policy issuance, including quotations, new policies, mid-term amendments, and ensuring accurate entries in premium systems.
Risk Assessment: Evaluate insurance applications, identify risk factors, and determine suitable coverage levels in line with underwriting guidelines.
Policy Analysis: Examine policy documents, endorsements, and proposals to confirm accuracy and compliance with company standards.
Underwriting Guidelines: Follow underwriting guidelines, rating manuals, and regulatory standards to ensure consistency and minimize exposure to risk.
Pricing: Set appropriate premium rates based on risk evaluation, market trends, and company profitability goals.
Negotiation: Collaborate with brokers, agents, and clients to negotiate insurance terms, including coverage limits, deductibles, and premiums.
Portfolio Management: Oversee an assigned portfolio of policies, ensuring proper documentation, processing renewals, and ongoing risk evaluation.
Client Interaction: Establish and maintain strong relationships with clients, brokers, and stakeholders, delivering excellent customer service and promptly addressing inquiries or concerns.