Insurance Underwriter

We are currently seeking a skilled Insurance Underwriter to join our team in Abu Dhabi, UAE. As an Insurance Underwriter, you will be responsible for assessing and evaluating insurance applications, determining coverage, and setting premiums. This position requires strong analytical skills, knowledge of insurance principles, and the ability to assess risks accurately.

Key Responsibilities:

1. Risk Assessment: Evaluate insurance applications and assess risks based on factors such as the applicant's profile, industry standards, and underwriting guidelines. Analyze supporting documents and determine the level of coverage and premium rates.
2. Policy Review: Review insurance policies and endorsements to ensure accuracy, completeness, and compliance with regulations. Verify policy details, terms, and conditions to ensure alignment with underwriting guidelines.
3. Underwriting Guidelines: Adhere to established underwriting guidelines, policies, and procedures. Apply sound underwriting principles and make informed decisions regarding coverage and premiums.
4. Customer Interaction: Communicate with clients, brokers, and other stakeholders to gather additional information, clarify policy details, and provide explanations regarding underwriting decisions. Maintain positive relationships and provide excellent customer service.
5. Risk Mitigation: Identify potential risks and develop strategies to mitigate them. Recommend risk control measures or policy modifications to minimize potential losses and enhance profitability.
6. Market Research: Stay updated on industry trends, regulatory changes, and emerging risks. Conduct market research and analysis to identify new opportunities and assess market competitiveness.
7. Underwriting Documentation: Prepare underwriting reports, summaries, and other documentation. Maintain accurate records of underwriting decisions, policies, and related correspondence.
8. Compliance: Ensure compliance with insurance regulations, policies, and guidelines. Adhere to ethical standards and maintain confidentiality of sensitive information.

Desired Candidate Profile

Requirements: Bachelor's degree in Business, Finance, Insurance, or a related field. Professional certifications in insurance or underwriting are advantageous. Proven experience as an Insurance Underwriter or in a similar role within the finance, banking, or insurance industry. Strong knowledge of insurance principles, underwriting practices, and risk assessment techniques. Excellent analytical skills to evaluate risks, assess policy coverage, and set premiums. Strong communication and interpersonal skills to interact effectively with clients and colleagues. Attention to detail and accuracy in reviewing policies, documentation, and data. Proficiency in using underwriting software and tools for risk assessment and policy management. Ability to work independently, manage multiple underwriting cases, and meet deadlines. Knowledge of insurance regulations, compliance requirements, and industry best practices. Familiarity with different types of insurance, such as property, casualty, liability, or health insurance. Fluency in English; additional language skills are advantageous.