AddressWe are seeking a dynamic and experienced professional to join Head of Underwriting for a Life Insurance division. As the Head of Underwriting, you will play a pivotal role in developing and implementing underwriting policies, ensuring the quality and profitability of the Life Insurance portfolio. The ideal candidate will bring a deep understanding of underwriting principles, risk assessment, and a strategic mindset to drive business success.
Responsibilities:
Strategic Leadership:
- Develop and implement the strategic vision for the underwriting function, aligning with overall business objectives.
- Provide leadership and direction to the underwriting team to achieve business goals.
- Underwriting Policy Development:
- Formulate and revise underwriting policies and guidelines for Life Insurance products.
- Ensure compliance with regulatory requirements and industry best practices.
Risk Assessment:
- Oversee the assessment of risk associated with Life Insurance applications, using a combination of medical, financial, and lifestyle information.
- Implement risk management strategies to optimize the balance between profitability and risk exposure.
Team Management:
- Build and lead a high-performing underwriting team, fostering a culture of continuous improvement and excellence.
- Provide training and mentorship to underwriters to enhance their skills and knowledge.
Quality Assurance:
- Implement quality assurance measures to ensure accurate and consistent underwriting decisions.
- Conduct regular audits of underwriting files to maintain high standards.
Collaboration:
- Collaborate with other departments, including actuarial, claims, and product development, to ensure seamless business operations.
- Work closely with the sales and marketing teams to support business growth.
Technology Integration:
- Explore and implement technological solutions to enhance the efficiency and accuracy of the underwriting process.
- Stay informed about industry trends and advancements in underwriting technology.
Reporting and Analysis:
- Prepare and present regular reports on underwriting performance, trends, and key metrics to senior management.
- Conduct in-depth analysis to identify areas for improvement and optimization.
Qualifications:
- Proven experience (15+ years) in a leadership role within Life Insurance underwriting.
- Bachelor's degree in a relevant field; advanced degree or industry certifications (e.g., FLMI, FALU) is a plus.
- Thorough understanding of Life Insurance products, risk assessment, and underwriting principles.
- Knowledge of regulatory requirements and industry best practices in Life Insurance underwriting.
