The jobholder manages the casualty treaty portfolio in India, which encompasses marketing, planning, underwriting, results monitoring, ensuring compliance with SCOR process / procedures / guidelines. The jobholder also supports the underwriting activity for other territories and other lines of business to achieve the objectives and strategy defined.
SCOR Global P&C writes over EUR 200m treaty premium in India, covering almost all business lines and servicing 10+ clients. Our market position as foreign leading reinsurer with strong technical expertise is wildly recognized. The jobholder will implement the strategy to expand SCOR’s relationship with assigned Clients under the management of the Team leader also in close collaboration with the other underwriters in the team.
Key duties and responsibilities
- Responsibility for profitable performance of the India Treaty Portfolio with focus on Casualty, Personal Accident, Motor and other Personal Lines product (excl. Health). This includes business analysis, exposure monitoring, portfolio profile analysis, pricing with dedicated actuaries, terms and share negotiations in compliance with underwriting guidelines and delegated authority, claims and results follow-up.
- Provide proactive, accurate and timely response to assigned clients on portfolio analysis and updates, covering the underlying evolution of primary insurance rates and loss ratio, market forces and issues.
- Assisting the Regional Casualty Manager with treaty underwriting on other terriroties in APAC.
- Assisting the Regional CUO’s and underwriters with client management, with motivation and ability to regularly engage with existing and new clients/brokers.
- Work closely with claims and reserving team to provide opinion towards reserving activities of various LoB’s.
- Maintain an excellent market intelligence and contacts and promote the franchise of the company.
- Work for and contribute to India P&C Reinsurance team’s overall performance and success.
Principle activities
Treaty Underwriting:
- P&C treaty underwriting as per guidelines and procedures;
- Analysis, pricing & modelling (in conjunction with actuaries and with modelers), negotiations, referrals as per guidelines and signing;
- Business Plan’s execution in all its dimensions (including new clients / other line of business / deals, underwriting reviews, SCOR P&C internal projects);
- Follow up on information in xAct, Omega, and Renewal Tools as per SCOR P&C and SCOR AP procedures.
- Ensure compliance with written rules and responsible for a satisfactory level of data quality and information entered in the systems for the assigned clients.
- Review Claims and Statement of Accounts.
- Prepare and conduct presentations to clients.
Client Relationship Management:
- Enhance client engagement, identify client needs and SCOR Business opportunities. Discuss and provide solutions to internal providers in achieving the planned targets. Working closely with UWRs and specialists and coordinate the interests of the stakeholders to provide to assigned clients with holistic offering of SCOR’s technical services and capabilities.
- Maintain a high level of technical and commercial relationship to identify needs and opportunities and generate new offers (including with brokers);
- Negotiates terms on request and within the relevant guidelines for all new and renewal business with cedants and brokers, incl. being able to discuss complex technical matters with a mindset of a solution provider.
- To increase and enhance the weight of lead / private / innovative deals with assigned clients.
- To improve and update information on client’s files in Salesforce.
Internal Control and Compliance: Adherence of internal control and compliance as per established rules, including but not limited to
- Checking of reinsurance slip, treaty wording and endorsements;
- Review of the EGPI and Loss Ratio as per internal control rules;
- KYC, Sanctions and Embargo checks as per legal requirements before the onboarding of new clients and/or inception of treaties underwritten;
Required experience & competencies
- Relevant experience in P&C underwriting (experienced and knowledgeable in Casualty treaty reinsurance underwriting and / or casualty facultative reinsurance and / or direct casualty underwriting for commercial / industrial risks)
- Ideally at least 3 years experience in Casualty underwriting in India, experience on other lines of business will be a plus.
- Strong technical understanding and expertise in direct insurance to discuss underwriting issues, risk assessment and pricing with underwriters of insurance companies
- Successful track record of implementing strategy, business development, client relationship and achieving consistent, verifiable business results.
- Good analytical and synthesis skills
- Pro-active person with excellent communication skills in English
- Recognized and appreciated by her market peers
- Ability to navigate and build a strong network internally with all relevant stakeholders as well as strong client and broker relationships externally
- Strong entrepreneurial spirit and commercial acumen
- Team spirit to work for and to contribute to India P&C Reinsurance team’s overall performance and success.
SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.
In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.
At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.
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