Senior Underwriter

Company Description

Mitsui Sumitomo Insurance Oceania
 (MSIG) is a proud branch of Mitsui Sumitomo Insurance Company Limited in Japan and a member of the esteemed MS&AD Insurance Group Holdings, Inc.—one of the world's largest general insurance groups. We operate in Australia and New Zealand, providing a diverse range of corporate, commercial, personal, and specialty insurance products.

We are currently seeking an experienced, and outcome-driven, 
Senior Underwriter
to join our in-house Underwriting team. This role is perfect for someone who has experience in underwriting commercial new business and renewals within set underwriting guidelines, authority levels and service standards, particularly within energy risks. This role will involve providing technical expertise to the business, and guidance to a team of Underwriters, whilst having ownership of individual policies, portfolio and fronting businesses assigned.

The Opportunity

As a Senior Underwriter, you will play a key role in underwriting across all areas, specialising in energy risks. Reporting to the Head of Underwriting, and your responsibilities will include:

Policy, Process and Procedures

•     Lead broker engagement and tripartite relationships with corporate clients.

•     Underwrite new and existing policies in accordance with organisational guidelines and risk appetite.

•     Ensure all documentation is accurate and complies with organisational guidelines and regulatory requirements.

•     Contribute to continuous quality improvement processes and self-learning.

•     Utilise and negotiate with reinsurance brokers and reinsurers to assist with stabilising results and protecting the bottom line.

•     Assist Head of Underwriting in executing and managing underwriting guidelines and referrals (including training for the underwriting and wider teams).

•     Support underwriting operations including documentation, credit management, and servicing.

•     Coordinator for fronting relationships assigned. Attend regular meetings and monitor adherence to service level agreements.

•     Regular communications with the Finance department to assist with managing credit control issues.

•     Assist Head of Underwriting with a variety of tasks including underwriting audits, market research, product council and assisting with data and queries for reinsurance treaty renewal. Reporting synergy activities for MSI Group as and when required.

•     Assist MSI claims team with underwriting policy enquiries.

Customer Focus

•     Provide a timely and professional level of service to customers and intermediaries.

•     Deliver timely decisions and problem-solving solutions for customers and intermediaries.

•     Develop and maintain good working relationships with all customers, intermediaries and internal stakeholders including occasional visits.

•     Strategy to deal with poor performing clients.

Technical Performance/underwriting

•     Evaluate risk for new and existing business in accordance with standards, to ensure profitable growth

•     Monitor portfolio results and individual product performance, identifying trends and opportunities and taking correction action as necessary.

•     Proactive monitoring and analysis of external risks.

•     Contribute to team learning.

People management

•     Lead and coach a team of Underwriters with direction from Head of UW and in line with MSI Oceania processes, ensuring achievement of business KPI's.

•     Engage and retain employees to ensure business sustainability through high employee engagement.

•     Effectively manage any performance issues within the reporting line and resolve

interdepartmental/team conflict, disputes and problems in a timely manner.

Who We Are Looking For:

If you have excellent communication and interpersonal skills, both verbal and written, and can bring your attention to detail and problem-solving skills to this exciting opportunity, this role is for you. We value the following:

Qualifications

•      Relevant tertiary qualifications, specialist qualifications or equivalent.

•      Diploma of General Insurance (ANZ Institute of Insurance and Finance).

Skills

• Negotiation and problem-solving skills.

• Building relationships, communicating, negotiating and influencing at a senior level within the team.

• People management – ability to engage and guide the team with technical issues and the ability to develop staff.

Knowledge

• Extensive knowledge of relevant market conditions for specific class/portfolio and advanced knowledge of the industry.

• Working knowledge of risk management, portfolio management and underwriting.

Experience

•     Minimum 10 years of underwriting experience (experience in underwriting energy risks is desirable).

•     Use of risk profiling and pricing tools and loss models.

•     Established customer/broker relationships.

What We Offer

• Friendly colleagues and a supportive work environment.
• Hybrid working practices.
• Company benefits such as flu shots and skin cancer checks.
• Complimentary Life, TPD & salary continuance insurance & Discretionary bonus