PURPOSE OF THE ROLE
Underwrite medical, financial, residential, travel, occupational and/ or avocational risks in accordance with the underwriting philosophy and guidelines.
Maintain high level of accuracy in underwriting decisions and transactions processed daily.
To deliver consistent and delightful one-stop customer experiences across case underwriting, NB operations and underwriting enquiries in accordance with the company’s service standards and quality objectives.
Ensure compliance with regulatory and risk management controls, corporate policies, procedures and underwriting guidelines.
Perform risk assessment for cases referred by Policy Servicing Team (including non-disclosure, reinstatement, review of substandard terms or addition of riders).
Identify areas of improvement in order to achieve defined levels of improvement in efficiency and productivity
Responsible for promoting an environment where risk management culture can flourish.
Assess insurance applications within the agreed TAT.
Handle underwriting appeals, enquiries and complaints.
Manage underwriting mailbox on rotational basis.
Effective Risk Management/Governance
Ensure key risks have been thoroughly understood, identified, measured and mitigated (if necessary).
RELATIONSHIPS (INTERNAL & EXTERNAL)
·Public, policyholders and advisers
·CPF Board, MAS, MOH, LIA, PDPC, FIDREC, external auditors, banks and vendors.
IT, Change Management, Customer Service, Finance, Actuarial, Distributions, Product Management, Legal, Compliance, Risk Management, internal auditors.
(This should include any mandatory MAS qualifications.)
ALU, FLMI, CLU
CLI, ILP,FNA,HI or M5, M8, M9,HI
Good medical, occupational, avocation and financial knowledge.
Excellent product knowledge of underwriting assessment in the relevant products sold by the company.
Highly analytical mind for complex decision making and problem solving.
Good negotiation skills when handling FAs and BDMs.
Good customer service and complaint handling skills.
Good understanding of the principles for all types of individual life, health (traditional life, investment linked, private medical, global health, integrated shield) products.
Good understanding of the regulatory aspects of life, health and investment linked insurance industry (MAS,LIA,CPF Board, MOH, MOM)
Good written and verbal communication skills