Singapore Cyber Underwriter ID-5779
Make your mark in Underwriting
AIG Underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, and Multinational Clients. We are reimagining how we help customers to manage risk, transforming our operating model and reshaping our role responsibilities and career pathways. The goal is to unlock the full potential in each colleague – empowering our people to grow as insurance professionals and add more value to our customers and AIG.
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How you will create an impact
To underwrite all Commercial and Financial Cyber businesses and Technology Professional Indemnity accounts including:
- Support growth and profitability objectives as outlined by the Profit Centre.
- Contribute to planning – Assist in identifying growth opportunities, new business segments, and new product opportunities to support growth objectives.
- Adhere to all underwriting procedures and compliance protocols as required.
- Assist with account targeting strategy and product development initiatives.
- Maintain strong working relationships with tiered brokers.
- Create solutions and initiatives in order to service SME market and agency-based businesses.
- Establish, maintain and monitor accredited local and global third party service providers that assist CyberEdge clients in the event of a breach.
- Lead the onboarding discussions of Cyber Vendors with potential clients and/or Policyholders.
- Lead product trainings to Agents, Brokers and Business Development Managers of AIG.
- Create concepts and execute marketing events that increase awareness on AIG’s CyberEdge capability and maintain strong brand recognition on AIG.
- Ensure High Quality of underwriting files.
- Ad-hoc special projects or requirements that may arise from time to time.
Key Accountabilities
Customer
- Assist with the maintenance/development of solid working relationships with all clients, brokers, reinsurers and other stakeholders and managing broker visitation schedule for staff in consultation with Head of Financial Lines.
- Help to identify business opportunities for other profit centres to support the company’s cross marketing strategy.
- Liaise with administration staff, legal, claims, finance and accounting and any other services centre to ensure awareness of underwriting and business activities support standards required.
- Help identify opportunities and strategies in support of growth in CAP and MAP segments and develop appropriate distribution solutions in country environment.
- Assist with multinational development plans and internal processes so that AIG gains the maximum share of available profitable income from key/potential producers.
- Ensure delivery of reports and compliance tasks in timely fashion to key internal stakeholders as and when required.
- Consistently develop the CyberEdge Product to cater to the evolving needs of the market, including review and localization of new policy wordings.
- Launch of new wordings to the market that will get AIG ahead of competition.
- Keep Head of Financial Lines aware of all major underwriting issues.
People
- Conduct technical and soft skills training as required to continue to develop technical and professional competencies.
- Maintain a professional and solution-based approach to underwriting.
- Contribute positively and constructively during performance review and goal setting process.
- Supervise, train and mentor staff assigned under him/her (if any).
Financial
- Profitable growth within budgeted objectives.
- Expense management as directed by PC and Management.
- Assist with planning for the PC within a matrix environment.
- Development and Implementation of business plans with appropriate guidance from Head of Financial Lines.
- Highlight trends in portfolio to Head of Financial Lines.
- Cross-sell Cyber to existing Financial Lines Business.
Business Processes
- Adhere to all underwriting disciplines within the profit centre.
- Responsible for adapting and implementing underwriting strategy and methodology to meet production target effectively and profitably.
- Referral of Renewal or New Business to Head of Financial Lines /Regional Cyber and PI Product Line Managers which falls outside of delegated underwriting authority.
- Work within corporate guidelines and delegated underwriting authority as appropriate.
- Prompt and timely advice to Segment/Commercial/Country Managers on New Business and Renewal negotiations on accounts that the PC identifies at risk prior to finalization wherever possible.
- Understanding and utilization of eStart, eScreen and all supporting strategic systems utilized to support management reports.
What you’ll need to succeed
- Possess recognized insurance certifications/qualifications.
- Proven experience in underwriting Cyber products.
- FAIS compliant.
- Liability/Financial Lines Underwriting, risk management or broking background essential
- Risk assessment including new business reinsurance negotiations and developing renewal retention strategies.
- Strong organizational skills.
- Strong marketing and relationship capabilities.
- Understands complex concepts; is analytical.
- Understands how decisions impact the various parts of the organization; has a broad perspective on organization businesses and practices.
- Has a well-rounded business background with experience in multiple functions (e.g., underwriting, marketing, operations, finance).
- Understands what drives the bottom line; has strong financial/quantitative capabilities.
- Uses technology as a strategic lever; understands technological trends that impact the way organization does business.
- Uses understanding of product development, targeted marketing and channels of distribution to add to top line growth.
- Keeps up-to-date on external issues affecting his/her function and the organization
(e.g. political and legislative trends, where the business is headed, the industry and the competition).
