About the Company:
Our client is a leading global insurer with a robust presence in the general insurance and reinsurance markets. The company prides itself on its innovative solutions, client-centric approach, and commitment to delivering high-quality, sustainable products. With a focus on excellence and growth, we are seeking a seasoned and dynamic professional to lead our underwriting division in Malaysia.
Position Overview:
The Head of Underwriting will be responsible for overseeing the entire underwriting function within the company, ensuring that it meets the strategic goals of the business while adhering to global standards and local market needs. This role will involve managing both general insurance and reinsurance portfolios, developing underwriting policies, strategies, and processes, and fostering strong relationships with key stakeholders, including brokers, clients, and reinsurers.
Key Responsibilities:
Leadership & Strategy:
- Lead and manage the underwriting function for both general insurance and reinsurance business lines.
- Develop and execute underwriting strategies to support business growth, profitability, and operational efficiency in alignment with the company’s goals.
- Provide direction to the underwriting team, ensuring they are equipped to deliver high-quality, efficient underwriting solutions.
- Work closely with senior leadership, risk management, claims, and actuarial teams to ensure cohesive strategy implementation.
Underwriting Operations & Portfolio Management:
- Oversee the underwriting process to ensure profitability, compliance with regulatory requirements, and the adoption of best practices.
- Monitor and review underwriting performance metrics, ensuring risk selection and pricing are in line with the company’s risk appetite and market conditions.
- Manage key accounts and large/complex risks, ensuring underwriting decisions are in the best interest of the company and its clients.
- Ensure underwriting decisions are made within delegated authorities, and escalate complex issues to senior management when necessary.
Compliance & Risk Management:
- Ensure underwriting operations comply with all regulatory standards, internal policies, and industry best practices.
- Review and update underwriting guidelines to reflect changes in market conditions, regulatory requirements, and company risk appetite.
- Collaborate with the risk management team to assess and manage underwriting risk, including conducting regular reviews of exposure and portfolio performance.
Stakeholder Management:
- Develop and maintain relationships with key stakeholders, including brokers, agents, clients, and reinsurers, to drive business development and achieve targets.
- Provide guidance and support to business development teams in securing new business opportunities.
- Represent the company in industry forums, conferences, and meetings to enhance the company’s market presence and positioning.
Team Development & Mentorship:
- Mentor and coach underwriting team members, providing training and development opportunities to build a high-performing team.
- Ensure alignment of the team’s goals with the overall business strategy and performance targets.
- Foster a collaborative and inclusive team culture that encourages innovation, accountability, and continuous improvement.
Qualifications & Skills:
Education:
- Bachelor’s degree in Business, Finance, Insurance, or a related field. Advanced professional qualifications (e.g., ACII, FCII, or equivalent) preferred.
Experience:
- Minimum of 10-15 years of experience in underwriting, with at least 5 years in a senior leadership or managerial role within the general insurance and/or reinsurance sector.
- Strong experience in managing complex underwriting portfolios across multiple business lines.
- In-depth understanding of global and local insurance/reinsurance market dynamics and regulatory environment, particularly within Malaysia and the ASEAN region.
Skills:
- Proven leadership, team management, and strategic thinking skills.
- Excellent decision-making, problem-solving, and analytical abilities.
- Strong communication and negotiation skills with the ability to build and maintain relationships with both internal and external stakeholders.
- Proficient in underwriting systems and technology platforms.
- Solid understanding of financial analysis, pricing strategies, and risk management principles.
