Underwriter - Motor Insurance Expert
1 week ago
About This Role
Honor Insurance Brokers LLC seeks a skilled motor underwriter to join our team, responsible for evaluating motor insurance applications and determining suitable coverage options based on risk assessment and client needs.
Responsibilities
- Evaluate motor insurance applications to determine suitable coverage options based on risk assessment and client needs.
- Analyze historical claims data using advanced data analytics tools to predict future risks and enhance underwriting accuracy.
- Collaborate with agents and brokers to gather necessary information for informed decision-making, ensuring effective communication throughout the process.
- Stay up-to-date on industry trends, competitor offerings, and regulatory changes to inform underwriting strategies and best practices.
- Negotiate terms and conditions of motor insurance contracts with clients, balancing risk with profitability and company objectives.
- Review existing policies regularly to identify opportunities for renewal, adjustments, or improvements in coverage, maintaining existing relationships while exploring new business opportunities.
- Develop and implement underwriting guidelines and policies that align with company goals and regulatory requirements, ensuring consistency and compliance.
Requirements
- Bachelor's degree in finance, business, or a related field; advanced degrees or certifications in insurance underwriting are highly desirable.
- Minimum 3-5 years of experience in motor underwriting or a closely related insurance field, demonstrating expertise and proficiency.
- Able to work collaboratively as part of a team-oriented environment while being self-motivated and proactive, driving results and achieving goals.
- In-depth understanding of the motor insurance landscape, including emerging trends and regulatory frameworks, to stay ahead in the field and drive innovation.
- Detailed mindset with a commitment to accuracy in assessing risks and documenting underwriting decisions, ensuring quality and reliability.
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