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28/09 HR
Director at Alpha Orion

Views:196 Applications:23 Rec. Actions:Recruiter Actions:6

Motor Product Underwriter Specialist - Insurance (9-12 yrs)

Mumbai Job Code: 1320304

Job Purpose Statement (Summarize in one/two statements why this job exists and the contribution makes to the overall business of the company).

1. Will be responsible for continuous review of existing motor products and configure updates of the same.

2. Bring new products/features by analyzing and assessing the market competition.

3. Supporting Business in terms of IT Digital platform initiatives and developing the premium rate engine/rule engine and responsible for implementation of the motor product process for the entire cycle on various platform.

4. Effectively implementing coverage, pricing, underwriting and other product solutions as per business requirement.

5. Understands analytics and portfolio management techniques.

6. Develop the technical maturity of the Motor business, by providing advice and support on Motor product, pricing and reporting best practices.

7. Review defined metrics periodically and strategize to take appropriate actions in case of any irregularity or variance.

Role & Responsibilities:

1. Liaise & review with insurance companies underwriters and product team to design, negotiate and execute Motor Product & guidelines.

2. Assist in developing motor journey on various digital platform including the premium rate engine/rule engine for all segments of Motor Tariff.

3. Review market price of motor insurance and work with various stakeholders and insurance companies to deliver competitive underwriting guidelines.

4. Preparation of motor product policy templates, wordings, under writing guidelines, rating schedule & other relevant documents.

5. Updating the various premium related masters like discounts, add-on rates, others post reviewing on various in-house digital platform - OEM/POSP/B2C/Others

6. Analytics to Monitor the Motor Insurance Portfolio and to provide useful insights to improve overall performance in line with Motor Business Philosophy.

7. Periodical review of premium rates and the underwriting guidelines in the light of the prevailing Insurers as well as performance of the Portfolio to ensure continuous enhancement.

8. Responsible for development and integration of motor insurance product journey on various digital journey and manage overall product lifecycle from ideation to design, development, user acceptance etc.

9. Provide analytics-based insights to help iterate on products to make it more customer centric and seamless digital experience

10. Ensuring regulatory changes are implemented seamlessly in application

11. Introduction of New Motor products & implementation with close coordination with internal & external stakeholders.

12. Suggesting & co-creating new product mix (bundle add-on covers) as per the type of business model and class/segment of vehicle/geographies and innovative solutions to evaluate new products under the sandbox initiative.

13. Exhibit a data-driven approach and accordingly provide feedback to respective stakeholders
on portfolio & product. Reporting of portfolio health by tracking of loss ratios

14. Development and atomization of various reports on Tableau by coordinating with IT as per the requirement.

Women-friendly workplace:

Maternity and Paternity Benefits

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