1 Security Assessment jobs in Bahrain
Senior Insurance Underwriter - Risk Assessment Specialist
101 Seef, Capital
BHD2200 month
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Job Description
Our client, a leading and reputable insurance provider with a significant presence in Seef, Capital, BH , is seeking to recruit a highly skilled and experienced Senior Insurance Underwriter. This position is critical for evaluating, selecting, and pricing insurance risks to ensure profitability and maintain a balanced portfolio. The ideal candidate will possess deep knowledge of underwriting principles, excellent analytical skills, and a strong understanding of various insurance products and market dynamics.
As a Senior Underwriter, you will be responsible for assessing complex risks, determining appropriate coverage levels, and setting premium rates that are both competitive and profitable. You will work closely with insurance brokers, agents, and internal stakeholders to provide expert guidance and ensure sound underwriting decisions. This role requires a meticulous approach to detail, a keen eye for identifying potential risks, and the ability to navigate challenging underwriting scenarios with confidence and expertise.
Key Responsibilities:
As a Senior Underwriter, you will be responsible for assessing complex risks, determining appropriate coverage levels, and setting premium rates that are both competitive and profitable. You will work closely with insurance brokers, agents, and internal stakeholders to provide expert guidance and ensure sound underwriting decisions. This role requires a meticulous approach to detail, a keen eye for identifying potential risks, and the ability to navigate challenging underwriting scenarios with confidence and expertise.
Key Responsibilities:
- Evaluate insurance applications and assess risks associated with individuals, businesses, and properties across various insurance lines (e.g., Property, Casualty, Life, Health).
- Determine the terms, conditions, and pricing of insurance policies based on risk assessment, actuarial data, and market conditions.
- Develop and maintain strong relationships with insurance brokers, agents, and clients, providing responsive and expert underwriting support.
- Review and analyze policy renewals, making recommendations for adjustments based on claims history, risk changes, and market trends.
- Ensure compliance with company underwriting guidelines, regulatory requirements, and industry best practices.
- Collaborate with the claims department to provide input on complex claims investigations and loss mitigation strategies.
- Monitor industry trends, regulatory changes, and competitor activities to identify potential impacts on the underwriting portfolio.
- Contribute to the development and refinement of underwriting policies and procedures.
- Mentor and train junior underwriters, sharing knowledge and expertise to enhance team capabilities.
- Prepare detailed reports and analysis on underwriting performance, portfolio risk, and profitability.
- Identify opportunities to grow the book of business while managing risk effectively.
- Attend industry events and maintain professional development to stay current with the latest underwriting practices and knowledge.
- Bachelor's degree in Finance, Economics, Business Administration, or a related field. Relevant professional certifications (e.g., ACII, CPCU) are highly desirable.
- Minimum of 5-7 years of proven experience in insurance underwriting, with a strong emphasis on risk assessment and pricing.
- In-depth knowledge of insurance products, underwriting principles, and regulatory frameworks.
- Excellent analytical, mathematical, and financial modeling skills.
- Strong decision-making abilities and a commitment to risk management.
- Proficiency in underwriting software and relevant data analysis tools.
- Exceptional communication, negotiation, and interpersonal skills.
- Ability to work independently and as part of a team in a deadline-driven environment.
- Integrity and a high level of professionalism in handling confidential information.
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