| Job Title: |
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Head of Underwriting |
| Total Positions: |
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1 |
| Job Location: |
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Rawalpindi |
| Gender: |
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No Preference |
| Minimum Education: |
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Bachelors |
| Degree Title: |
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along with FCII/ACII and/or CPCU |
| Career Level: |
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Department Head |
| Minimum Experience: |
|
10 Years |
| Salary Range: |
|
PKR 0 to 0 per Month |
| Apply By: |
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May 19, 2021 |
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| Job Description: |
Job Summary:
- Head of Underwriting is responsible for the implementation of underwriting strategies in accordance with the company’s overall strategic plans and assisting business growth and development with focus on underwriting risk control function through prudent risk selection and effective process development.
- He/she will work closely together with Management Team to ensure that the company’s profit and growth targets are met and business operations continue to improve.
- Head of Underwriting is a creative, highly motivated self-initiator who can work both independently and as the member of a team, while maintaining a positive client focus and strong interpersonal skills.
- The incumbent must have an exceptionally strong aptitude for business development and is able to formulate and implement strategic plans in line with underwriting objectives.
Job Description:
- Develop and enhance risk selection and acceptance strategies and procedures
- Provide guidance in technical insurance matters across the company
- Maintain the product mix and target markets for the company. Develop new and/or enhance existing products and market entries, ensuring that products are competitive from pricing and coverage perspectives while ensuring these are in compliance with all insurance laws, regulations and company strategic plans.
- Recommend business plans that will generate continued profitable business growth in current and future markets
- Analyze, evaluate and make underwriting decisions in line with underwriting guidelines and recommendations
- Ensure that within the Department, the decision making processes and the use of technology and systems are adequate to effectively and profitably deliver on the Company’s strategic objectives.
- Understand and remain current on emerging trends and issues and proactively communicate with Branch Managers, Department Heads and Underwriters to keep them informed.
- Maintain Quality Control standards, through periodic Underwriting Audits to ensure adherence to underwriting guidelines and procedures in order to contain loss ratios within acceptable levels.
- Responsible for various administrative functions within the Underwriting Department including but not limited to; defining delegated authority, performance evaluation and management, anticipation of staffing needs, assurance of proper training programs etc.
- Participation in strategic planning and performance measurement as part of the Management Team.
Job Specification
The ideal candidate should possess the following attributes:
- Bachelor's/ Master’s Degree preferably a FCII/ACII and/or CPCU
- Minimum 10 Years’ experience in Insurance industry with minimum 5 years at a managerial/supervisory position
- Demonstrate deep knowledge of insurance law, theory and practice, with exceptional skills in ensuring delivery of seamless underwriting service.
- Experience in Reinsurance placements and Risk Management structuring will be an added advantage.
- A good understanding of the compliance requirements
- Excellent communication skills, including consensus building, negotiating ability and presentation skills.
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| Company Information |
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Company Name: Askari General Insurance Co. Ltd.
Company Description:
Askari General Insurance Company Limited (AGICO) was incorporated in 1995 as a public limited company and is quoted on all the three stock exchanges of Pakistan. It commenced its business in the same year and since then has by the grace of Allah maintained a steady growth. AGICO is sponsored by the Army Welfare Trust (AWT) which is engaged in the business of finance, banking and production of consumer goods and services. The AWT has as many as 23 different companies working under its fold and most of these are quoted on the country's stock exchanges. AGICO is one of the leading companies of this Trust and is rapidly growing to become a market leader in insurance sector of the country. Besides providing the traditional coverage like marine, motor and fire, Askari General Insurance also has the capacity to offer specialized coverage on various engineering risks. It is a pioneer and a market leader in its own right in health insurance and constantly exploring avenues to offer protection in areas yet unexplored by other companies. With the grace of Allah the consistent progressive journey which started in the year 1995 is continuing. The Company is readily accessible in all areas of the country due to the presence of a large network of branches. The trust which our clients have in us is evident from the fact that the Company has maintained its growth even in times when all the economic activities are at the lowest ebb. In view of this stable performance the company as been adjudged by the some leading national and international financial rating companies as company of the future. Askari General Insurance has the commitment and the capacity to transform its promise into a reality.
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