Associate Medical Underwriter

The job holder is responsible for the review of risk submissions from business development and referrals that have been initially processed by the Associate underwriter. The position typically handles the standard risks with a minimal amount of approval authority through the clear underwriting guidelines and underwriting manual. The position typically reports to the Senior Underwriter.

Accountabilities:

1. Renews previously underwritten risks.
2. Analyzes and evaluates loss reports, audits, and other developed information to determine the need for modification of coverage or premium as well as the need for loss control consultation or policy cancellation.
3. Determine appropriate premium rates for quotations, new business, renewals, endorsements, and cancellations by referring to rating manuals, and performs calculations according to prescribed formulas.
4. Assess, evaluate and price risk using risk modelling techniques and prescribed underwriting guidelines.
5. Gather, prepare and present monthly management reports on underwriting, operating costs, underwriting exposures, and loss ratio.
6. Approves policies within defined authority limits.
7. Liaise and interface with other verticals in the department to update on business.
8. Assist in providing an accurate, high quality, and speedy underwriting service that builds customer relations and credibility.
9. Prepares quotes for brokers / third parties / customers based on risk price analyses with the consultation of Senior Underwriters.
10. Reviews policy applications and supporting documents for completeness and accuracy for basic and modest level insured value risks.
11. Contacts other departments to obtain additional information as required.
12. May work in conjunction with an underwriter to prepare a policy pricing package appropriate to a given risk at the direction of an underwriter.

Education, Experience and Formal/Professional Qualifications:

1. Graduate degree preferably in Science, Insurance, Risk management, Accountancy, Law.
2. Insurance certificate from any accredited institute preferable.
3. 2 - 3 years of underwriting experience.
4. Proven ability in underwriting, organizing workload under pressure.