Summary / Purpose of Position:
This position will play a crucial role in assessing, evaluating, and managing risk for High-Net-Worth insurance applications. The Underwriter will provide analysis and recommendations based on thorough risk assessments and market trends, ultimately contributing to the profitability and sustainability of our Bermuda insurance portfolio.
Duties & Responsibilities:
- Evaluate and analyze insurance applications , ensuring adherence to established underwriting guidelines and regulatory standards.
- Conduct comprehensive risk assessments, considering various factors including client history, market conditions, and financial stability.
- Determine appropriate coverage terms, pricing, and conditions for insurance policies, balancing risk with business objectives.
- Maintain effective communication with brokers and clients to gather relevant information and clarify underwriting needs.
- Prepare and present underwriting reports that document risk evaluations and justify policy issuance decisions.
- Monitor and manage the performance of accounts, making adjustments to underwriting strategies as necessary to mitigate risk.
- Stay updated on Bermuda’s evolving insurance regulations, market trends, and competitor practices to enhance underwriting decisions.
- Collaborate with cross-functional teams, including claims, actuarial, and legal departments, to ensure comprehensive evaluation of risks.
- Assist in the development and implementation of underwriting policies and procedures to enhance efficiency and ensure compliance.
- Bachelor’s degree in Finance, Business, Economics, or a related field.
- Minimum of 4-5 years of underwriting experience within insurance sector, preferably in Life Insurance.
- Fellow of the Academy of Life Underwriting, Fellow Life Management Institute, or Chartered Life Underwriter will be highly preferred
- Strong analytical and quantitative skills for evaluating complex risk scenarios.
- Excellent communication skills, both verbal and written, with the ability to present information clearly and persuasively.
- Strong attention to detail, organizational skills, and the ability to manage multiple priorities effectively.
- Creative problem-solving skills with the ability to make sound decisions under pressure.
- Proven track record of risk assessment and decision-making in underwriting various types of insurance products.
- Proficiency in underwriting software, data analysis tools, and the Microsoft Office Suite.
- Previous experience working with brokers and clients in a collaborative environment.
- Candidate with more experience can be considered as Assistant Manager
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What We Do
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs 31,000 people worldwide. Additional information can be found at: chubb.com.
