|
|
|
|
Profile of Financial Practitioner (Insurance)
Name : TLK
Company : General Insurance Company
Job Title : Underwriter
Qualification : Advanced Diploma in Insurance (ACII)
BA in Risk Management
Diploma in Risk & Insurance Management
I have been an Underwriter with a general insurance company for a few years. I am responsible for providing effective leadership to a team of Customer Service Representatives (CSR) and Underwriting Technical Assistants (UTA) in rendering quality underwriting service and support to the company's commercial insurance business to achieve total customer satisfaction.
A typical day could begin with attending to enquiries of intermediaries and clients, analysing the risk from the underwriting information provided, or put up appropriate terms and premium to insure the risk. At times, I need to conduct site surveys, guide the CSR & UTA in the issuance of insurance policies/endorsements and their day-to-day work, and conduct product training to agents.
Strong analytical skills of risk profile and good understanding and application of insurance terms are essential. In addition, an Underwriter needs to have good communication and administrative skills, and enjoys dealing with people. Career progression options are many, such as becoming a Reinsurer, Risk Surveyor or Risk Manager.
Name : ACS
Company : General Insurance Company
Job Title : Underwriter
Qualification : Tertiary
I am an Underwriter with a general insurance company and is responsible for underwriting all classes of general insurance relating to corporate accounts, including review of renewal cases. I also participate in developing and launching new products. A typical day would involve liaising with intermediaries to understand their insurance needs, and provide insurance premium quotations to agents/brokers.
I first started my career with a local general insurance company as a business development executive. I decided to pursue a career as an Underwriter as it is a very respectable profession. For this position, having in-depth knowledge and understanding of various classes of general insurance products is essential. In addition, the person should have strong analytical, presentation, communication and interpersonal skills.
Name : TLM
Company : General Insurance Company
Job Title : Underwriter
Qualification : B.Sc (Banking & Finance), CGI, HI
As an Underwriter, I am responsible for the review of the terms and conditions of renewals, and decide whether to accept an insurance risk and what terms and conditions. I have to consider factors such as nature of the business and the claims history. I also take care of the portfolio of renewals and quotations of the agents & brokers under my care. A typical day would involve preparing quotations and reviewing renewal terms and conditions. At times, I have to attend to queries from agents and brokers on insurance coverage, our company's insurance products, etc.
I entered this profession by chance about 5 years ago whilst working as a temporary staff in an insurance company. It did not take me long to like the job. Progression options are also many, including reinsurance, broking and marketing.
To be a good Underwriter, it is essential to have good grasp of the insurance terms and conditions as stated in our company's insurance policy and knowledge of the mechanism behind each insurance cover. Beyond the technical skills and knowledge, soft skills such as effective communication and interpersonal skills, as well as a lot of patience are required to deal with the agents & brokers.
Name : SO
Company : General Insurance Company
Job Title : Regional Underwriter Cargo - Asia
Qualification : GCE 'A' Level; Fellow of the Chartered Insurance Institute, UK;
Chartered Insurer, UK.
I started my career as a junior clerk about 20 years ago, and today, I oversee a department. As Head of Department, I am responsible for the growth and
profitability of the portfolio under my charge, as well as training and development of my staff. A typical day would involve managing the Marine Unit, attending to quotations, claims, collections, and meeting intermediaries. At times, I have to attend industry workgroup meetings and undertake ad hoc projects.
It did not take me long to realise that insurance is a very diverse business and there are many career opportunities along the value chain, from frontline operators to back-office support, generalist or specialist. I have worked in various roles and finally decided to specialise in marine insurance, where there are not many such specialists around. It can be rather satisfying underwriting unconventional risks.
Few people are aware that being an Underwriter can be as glamorous as bankers, stock brokers, lawyers, doctors, engineers, etc. To be in this position, it is essential to have strong research and analytical skills. At the same time, he must be creative and innovative in developing practical solutions and is an effective negotiator.
|
|
|
|