Liability & Financial Lines Underwriter vacancy in Oman Insurance Company Dubai, United Arab Emirates

Oman Insurance Company Jobs

Website Oman Insurance Company

This Job Listing is about Oman Insurance Company in Dubai, United Arab Emirates 2022

About the job

Purpose:

The job holder is responsible for assessing and underwriting Liability and Financial Lines new business, endorsements and renewals in accordance with the established Company procedures and standards up to the assigned limit. If referrals are required, the job holder is expected to draft balanced risk assessment documents and submit these to the Line of Business Head.

Accountabilities:

• Applies underwriting and risk selection techniques to determine the acceptability of new and renewal insurance risks.

• Responds to inquiries from distribution channels regarding underwriting processes and decisions, interpretation of policy forms and coverages, and premium levels.

• Receive and review new business proposals, endorsements and renewals within authorized underwriting limits

• Assess, evaluate and price risk using risk modelling techniques and prescribed underwriting guidelines

• Analyzes, evaluates, and classifies the assigned applications working with inspection reports and financial statements to aid in determining risk acceptability. The underwriter will determine the appropriate rates, and counsels with agents and/or potential insured for risk modification in order to make the risk acceptable.

• Provide first point of contact for escalation of any internal / external queries

• Approves policies within defined authority limits

• Liaise and interface with other verticals in the department to update on business

• Liaise with reinsurance and claims for service delivery issues

• Assist in providing an accurate, high quality and speedy underwriting service that builds customer relations and credibility

• Provide quotes to brokers / third parties / customers based on risk price analyses with the consultation of Line Head.

• Escalate customer issues and concerns where the timely resolution is not being achieved in light of the laid out policy and turnaround time.

• Responsible for contributing to team KPI’s.

Skills Required:

• Sound knowledge and understanding of the insurance market and regulatory environment

• Written and verbal communication skills in English

• Problem solving and decision making capabilities

• Influencing and interpersonal skills

• Negotiation Skills

• Proficient with MS Office suite.

• Proficient with MS Dynamics

Education, Experience and Formal/Professional Qualifications:

• Graduate degree preferably in Science, Insurance, Risk management, Accountancy, Law.

• Insurance certificate from any accredited institute preferable

• Minimum 5 years of underwriting experience.

• Proven ability in underwriting Financial Lines and Liability classes, organizing workload under pressure.

Company: Oman Insurance Company

Vacancy Type: Full-time · Mid-Senior level 

Job Location: Dubai, United Arab Emirates

Application Deadline: N/A

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