Assistant Underwriter, Specialty

Assistant Underwriter – Specialty

XLICSE, India Reinsurance Branch

Mumbai, India

What you’ll be DOING

What will your essential responsibilities include?

• Reviewing facultative submissions related to Specialty LOB – namely Fine Arts, Specie, Terrorism & Political Violence, Event Cancellation from various aspects including but not limited to associated exposure, coverage, policy wording & clauses, terms & conditions, risk management, loss trends, and financial metrics, all the while conducting appropriate research to determine what is in best interest of AXA XL.
• Ascertaining appropriate risk premium by considering the risk costs & exposures inherent to the respective line of business and client profile, as well as the Underwriting and general administration costs while ensuring profitability.
• Proactively having regular dialogue with brokers / cedants to spot for potential opportunities, carrying out negotiations, advising AXA XL position as per underwriting appetite and contribute towards building a sustainable Specialty LOB underwriting book, prepare and manage documentation as per internal guidelines, following up and servicing clients on reinsurance and risk management matters to ensure satisfaction and fulfillment of their reinsurance requirements.
• Effective relationship management to tap new opportunities and simultaneously ensuring account retention.
• Good understanding of industry, market needs and best practices which helps in showcasing the technical proficiency of the company and contributes towards positioning AXA XL as reliable & reputable go to market.
• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income and portfolio health to ensure it remains aligned with company’s objectives
• Maintain awareness of all claims advised while supporting and providing inputs, wherever needed
• Working collaboratively in a team environment – assisting underwriters Specialty LOB, underwriting assistants, Actuarial, Risk engineering, Operations, claims and management team.
• Ensure all underwriting activities/ decisions comply with internal guidelines, industry standards, and regulatory requirements.

You will report to the Underwriting Manager.

What you will BRING

We’re looking for someone who has these abilities and skills:

• Bachelor’s Degree preferred and equivalent experience in the relevant class of business is essential. Any other relevant professional qualification will be an added advantage.
• Possess an considerable level of functional & technical knowledge and skills in Specialty underwriting namely – Fine Arts, Specie, Terrorism & Political Violence, Event Cancellation. Knowledge of Marine & Aviation would be added advantage.
• Ability to work independently.
• Ability to respond to a changing environment with flexibility and innovation.
• Marketing - Effectively plan for business development. Integrating the use of various techniques, tools, and information to support profitable business growth over a defined period.
• Negotiation & communication - Plan, structure and conduct negotiations with brokers and/or cedants and effectively back them with excellent communication skills to reach outcomes that gain the support and acceptance of all parties.
• Analytical Skills – Visualize, gather information, articulate, analyze and solve complex problems in order to make key business decisions.
• Interpersonal Savvy – Build excellent interpersonal relationships with brokers, cedants & colleagues with the intention of improving personal profile and reputation within AXA XL and at broader market level.
• Industry Knowledge - Understanding of the insurance industry and trends which have potential to positively / negatively impact the Line of business

Who WE are

What we OFFER

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
• Robust support for Flexible Working Arrangements
• Enhanced family-friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.