Assistant
Al BUHAIRA NATIONAL INSURANCE COMPANY
Total years of experience :16 years, 10 Months
Hull - Assistant Underwriting & Broker Business Relation
1) |Al BUHAIRA NATIONAL INSURANCE COMPANY, SHARJAH U.A.E
February 2015 - Till Date
1) Marine Hull - Assistant Underwriting
( Marine and Aviation Department )
• Assessment of Marine Hull proposal forms duly signed and stamped received from various insurance brokers, agents or direct clients and deciding if business needs to be accepted or rejected.
• Upon evaluation of risk, quote appropriate price, appropriate cover terms and conditions.
• Prepare formal word Quotations with a turnaround time of two days.
- Seek support from the Reinsurance department to further approach external reinsurers for high value Vessels that exceed treaty capacity and accordingly finalize quotation.
- Forward final quotation to clients or brokers for their rate and cover confirmation and keep a follow-up with clients for their feedback and any further negotiations.
• Maintain quotation records for materialized and non materialized quotations.
• Hull Insurance policy administration, issuance of fleet and individual Hull Policies and certificates via Oracle System and liaise with clients for vessels condition survey reports and installment cheques.
• Arranging for WAR covers from the International WAR risks cover specialists for particular vessels.
• Obtaining different Profession Indemnity quotations (P & I) from international Markets and communicating it to the client for their finalization and bind cover.
• Regular Follow ups with clients, brokers, sales executives for Hull Installments.
• Preparation of Monthly Renewal reminders to be sent for direct Clients, Insurance Brokers, and Sales Executives.
- Prepare renewals via Oracle system.
• Perform alterations and various insurance endorsements on the system, refund calculations and additional premiums.
• Informing the Reinsurance Department on any changes performed in the existing Hull policies for them to intimate the external reinsurers.
• Coordinating with finance and control department for blocked client or broker accounts due to overdue amounts and arrange for collections.
2) Brokers
( Business Relationship)
• Day to Day preliminary underwriting support to Broker Executives, for all sectors of Insurance. (Motor, Group Life & Group Medical, Property and Fire, Marine & Aviation)
• Entertain daily quotation requests from brokers and forward to concerned departments after reviewing basic underwriting requirements & follow up with the broker operations.
• Independently deal with broker inquiries, assess and understand the information provided by the brokers/client in order to assess the risk to be insured. Work with internal departments to negotiate rates wherever possible.
• Release the quotations received from the concerned department underwriters and follow up to keep the underwriters informed on broker decision.
• Generate reports for broker relationship executives, Human resource, Loss ratio, Production, Quarterly production reports etc.
• Support broker Staff with Ad hoc assignments on request.
- Statement of account.
• Monthly Collection follow-ups with brokers with different branch offices.
• Responsible for preparation of Original Broker Agreements in compliance with the Insurance Authority requirements and opening Broker accounts for Head office and all other company branches.
• Support on inquiries received from other branch offices on blocked accounts and any other issues.
Responsible for evaluation and processing of new business applications.
Coordination with top of the line insurance companies
Assessment of Marine Hull proposal forms duly signed and stamped received from various insurance brokers, agents or direct clients and deciding if business needs to be accepted or rejected.
Upon evaluation of risk, quote appropriate price, appropriate cover terms and conditions.
Prepare formal word Quotations with a turnaround time of two days.
Seek support from the Reinsurance department to further approach external reinsurers for high value Vessels that exceed treaty capacity and accordingly finalize quotation.
Forward final quotation to clients or brokers for their rate and cover confirmation and keep a follow-up with clients for their feedback and any further negotiations.
Maintain quotation records for materialized and non materialized quotations.
Hull Insurance policy administration, issuance of fleet and individual Hull Policies and certificates via
Expert knowledge & study on Incoterms, FCL, LCL, Supply Chain Management, Trade. Final Thesis done on : Digital Documentation Processes in the Insurance sector.