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Underwriter

  • Location: Hamilton
  • Type: Direct Hire
  • Job #253

On behalf of our Client, we are seeking an Underwriter. This position is responsible for the provision of International Employee Benefit Underwriting consulting services to the portfolio of this global Leading Consultant’ clients. The role is Bermuda based.

The Client is an independent captive consultancy firm specialized in providing tailored Captive Employee Benefits Underwriting services including Medical, Life, Disability and Accident line of cover, with unparalleled expertise in reinsuring employee benefit risks into captives;

      • World leader in developing captive solutions for Employee Benefits
      • Clients are Fortune 100 companies
      • Independence – not linked to any of the large broking houses or global insurer networks
      • Enhanced and unique insurance underwriting, accounting and claims management services
      • Based in Hamilton, Bermuda

 

The job description includes, but is not limited to, the following:

 

Responsibilities:

 

The job description includes, but is not limited to, the following:

· Responsible for day to day underwriting activities for portfolio of client assigned, including advising the client on appropriateness of the risk to be reinsured to the captive

· Develop relationship with the assigned International Employee Benefit Captive clients Risk Management Team and HR

· Manage the Global Captive Network RFP process for new clients

  • Managing client presentations and bids
  • Managing client RFP responses and timelines

· Assist in the management of client relationships and presenting underwriting results for all line of business, Medical, Life , Disability and Accident

  • Assessing new opportunities for captive reinsurance underwriting
  • Ensure client queries are effectively responded to within the set turnaround time and ensure compliance with all SLA/KPI
  • Proactively Resolve services issues where needed
  • Modelling the reinsurance pricing of benefit changes for clients’ local business units
  • Advising and aiding units in risk mitigation programs for client employee benefit insurance risks
  • Initiating and assisting with tender and account re-engineering exercises
  • Investigation of various alternative risk financing options and plan designs
  • Assisting in building and/or enhancing the business relationships with clients’ business units and/or clients’ supplier companies
  • Assist HR in implementing Global Benefit strategy

· Develop the underwriting of IEB programs for clients in all jurisdictions

· Assist in the development of relationships with the various fronting networks and other external counterparties

· Review of quarterly bordereaux and ensure accuracy of the info reported by the fronting network of insurers, maintain effective controls for client’s reports

· Assist in the management of all aspects in consultation with the Directors

· Creation and/or maintenance of underwriting pricing models for current and prospective underwriting accounts for the portfolio of assigned clients

  • Modelling reinsurance underwriting programs to client-specific required underwriting result with a goal to gain maximum savings where applicable
  • Suggesting renewal premium levels with respect to the risk to be reinsured by the captive, in consultation with clients’ local business units and head offices
  • Creation and/or maintenance of the pricing/loss forecasting financial model
  • Responsibilities do not include final determination and/or negotiation of pricing based upon the models created/maintained.
  • Manage weekly calls and trackers with the client discussing all the upcoming renewals, migrations, country issues.,.

· Other responsibilities and duties as directed from time to time by the Management Team

 

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