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Senior Manager, Underwriting

Salary undisclosed

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About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

For more information, please visit

In Singapore, FWD aims to change the way people feel about insurance by leveraging technology to deliver products and services that are relevant, easy to understand and always convenient for our customers. To this end, we have a direct-to-consumer (DTC) platform that allows customers to buy their preferred life and general insurance products directly from our website; as well as a network of preferred Financial Advisory (FA) firms for customers who want to speak with an advisor before committing to an insurance plan. Whatever their preference, we believe insurance should be simple, reliable and convenient.

If you are looking for a career where you can create a real impact and celebrate living, we invite you to join us on our exciting journey.

PURPOSE

This role will be expected to perform risk assessment of all life and health products to deliver quality risk assessment, meet service level agreement and productions targets set.

KEY ACCOUNTAIBILITIES

New Business – Underwriting Subject Matter Expert

  • To perform risk assessment of all life and health products to ensure that risk assessed is compliant to our company’s and regulatory guidelines.
  • To perform risk assessment of jumbo/large sums assured of High-Net-Worth individuals (HNWI) to ensure that cases are thoroughly assessed especially on financial underwriting, yet providing extra level of service to the distribution team.
  • To work closely with new business and distribution team to ensure that service delivery and production targets are met.
  • To review appeals, post-issuance issues and handle post claim underwriting.
  • To reduce operational risk by ensuring compliance of internal policies, procedures, treaties, guidelines and regulations.
  • To assist Head of New Business & Underwriting to constantly review our underwriting guidelines to ensure that it is compliant with our Group’s underwriting philosophy.
  • Review and update internal underwriting guidelines as well as distributors’ manual to ensure guidelines remain current and competitive.
  • To provide training and consultation support to distribution channels.
  • Maintain an excellent working relationship with distribution team and reinsurers.
  • Conduct underwriting training for internal staff as well as support the development of training.
  • Underwriting lead to develop risk selection parameters for new product / propositions for both DTC and IFA channel.
  • Support product launches such as review forms, guidelines, reinsurance treaty /addendum and other business initiatives.
  • Identify and enhance automated underwriting rules to improve end-to-end straight through processing (STP) and customers’ experience.
  • Guide and provide support, including but not limited to UAT, to underwriting analyst to build and enhance the underwriting rules engine
  • To perform underwriting audits.
  • Conduct internal underwriting audit on cases underwritten by junior underwriters and cases issued through automated underwriting engine.
  • Manage panel of clinics and medical costs.
  • Handle post-claim review.

QUALIFICATIONS / EXPERIENCE

  • Degree holder
  • Preferably with insurance professional certificates (CII, LOMA, etc).
  • More than 10 years of underwriting experience in life and health insurance
  • Experience in technical case underwriting especially for large/jumbo cases, and preferably in the HNW sector
  • Preferably experience with US$5m HNW underwriting authority and/or retail underwriting authority of S$3m and above.

KNOWLEDGE, SKILLS & ABILITY

  • Strong knowledge in life & health insurance.
  • Good understanding on regulatory related to life and health insurance.
  • Good verbal and written communication skills.
  • Good interpersonal skill
  • Good analytical, problem solving and decision-making skills
  • Experience with systems such as AS400 (Life Asia); SMART; OWB; AWPL and the DTC Front End systems.
  • Basic knowledge of UnderwriteMe Rules Editor; Enquiry Shell; MI Yellow Fin Tool)