Underwriting Officer - Non Motor
Wataniya Insurance Comapny
Total years of experience :18 years, 11 months
• Studying insurance proposals and preparing quotations.
• Gathering and assess background information in order to effectively assess the risk involved.
• Determining, extent of coverage, the premium to be charged, and other terms that are relevant and appropriate to risk.
• Assess and suggest possibility of policy in respect of renewal or issuing new quotation by investigating and reviewing the claim history of the policy, calculating and analyzing the policies loss ratio and number of years insured.
• Suggest new rates or deductible or change the quotation terms.
• Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risk, using reference materials.
• Continuously monitor results in cooperation with the claims department.
• Gather information and various types of reports that help to identify the risk and loss ratio.
• Liaise with specialist, such as surveyors, or property inspector for risk management. examine documents to determine degree of risk from such factors as applicant financial standing, and value and condition of property.
Working as Property & Casualty Claims Superintendent(However, to gain diversified experience & expertise, I have also taken on the Underwriting Function voluntarily). My overall responsibilities now include:
•Handling the Claims from notification till their final settlements & getting involved in each & every step of the claim proceedings
•Reviewing claim documentation & forwarding it to the Insurers
•Extending Claims Management support to staff on a daily basis
•Ensuring the Team’s Compliance to SAMA Regulations and SOPs(Standard Operating Procedures)
•Assisting Claims Personnel and Insured’s in determination of policy coverage, liability analysis and settlement negotiation.
•Explaining the Policy Clauses & their practical application to Claims
•Attending surveys in collaboration with the Loss Adjusters & working as a buffer between them & the Insured's
•Participating in risk surveys in order to determine the risk exposures before policy inceptions
•Negotiations with insured and Insurers
•Keeping constant contact with the Insurers on behalf of the Insured towards their Claims and vice versa
•Interacting with Claimants, Attorneys, Traffic Police, Police & other concerned Government Authorities to substantiate the losses
•Building and maintaining business relationships with Insured’s as well as Insurers
•Underwriting new business
•Reassessment of risk upon policy renewals keeping in view the losses sustained on their policies
•Participating in internal renewal meetings
•Calibrating between insurer and insured for assigned renewals and assisting in surveys
•Generating quotation slips
•Analyzing quotations once received
•Meeting and providing client feedback on the quotations received and helping them choose the best & most economical coverage
•Undertaking general administrative duties as & when required
•Issuing, maintaining and follow-up with the purchase orders
•Coordinating with shipping agencies/other departments to plan future import/export shipments
•Working with regulatory affair on issues related to SFDA(MDNR, MDIL, AR agreement, MDMA)
•Issue import permits (IBRCS, MDIL)
•Maintaining and keeping track of delivery scheme
•Maintaining adequacy and completion in filing of documentation
•Reporting daily developments on sea, air and inland transit shipments
•Preparing comprehensive reports on freight/custom costs comparisons between shippers
•Liaising with Insurers
•Negotiating insurance policy premiums/terms with the insurance companies & brokers
•Submission of marine claims for indemnity after securing complete documentation
•Making claim investigations
•Evaluating claim reports and liaison with the loss adjustors
●Visit potential customers for new business.
●Advise and educate clients about new products and services offered by company.
●Furnish clients with quotations and best possible products.
●Negotiate terms of agreement with clients and close sales.
●Gather market and customer information and provide feedback on the submitted quotations.
●Represent company’s supplier at exhibitions, event and demonstrations.
●Forecast quarterly sales and review own sale performance.
●Recorder sale information report them to sales department.
●Maintain and develop good relationship with customers.
●Provide accurate feedback on future buying.
●Help management in launching new products and discuss on special promotions.
•Creating business development opportunities while handling all import business
•Handling all insurance related issues
•Prospecting for clients in a view to achieve sales targets and objectives
•Providing after sale service in order to generate future business openings
•Preparing and delivering sales presentation
•Keeping abreast of prevalent industry trends and competition
•Tracking Shipments and containers Estimated Time of Arrival(ETA)
•Preparing cargo clearance documentation
•Arranging custom clearance documentation to smoothen the release of shipments
•Building relations with clients while selling miscellaneous insurance solutions
•Making Client visits and generating leads
•Performing administrative work in order to complete Underwriting Requirements
•Maintaining prospect data/lists
•Staying updated with the new insurance products
•Surveying the market on a monthly basis to gain 1st hand knowledge of competition
•Staying updated about the new industry trends
•Proposing clients about events and offering suggestions to satisfy them
•Negotiating the type and costs of services to be provided within the budget
•Making sure adequate staff is assigned duties and the catering plans the menu well
•Organizing the venue and appropriate set up of seating and décor
•Consulting the service providers on various issues
•Coordinating with staff to ensure timely start of the event
•Following up with clients for payments
•Collecting and analyzing data on projects undertaken and reporting their outcomes
•Advising senior management on matters requiring attention
•Viewing and developing administrative systems and procedures
•Overseeing work by contractors and report on their variations
Below mentioned are the major in BAE, • Essentials of Marketing • Understanding business behaviors • Understanding business functions • Business behaviors in a changing world •Systems thinking: - principles and practice •Managing complexity: - A systems approach.
My final CGPA was 2.92. I was awarded scholarship in 2007 as well.