We are looking for a Senior Underwriter – Natural Resources & Construction, based in Singapore. 

Your Team

You will work in a seasoned team of highly experienced and motivated Underwriters who takes ownership of top key accounts and clients, skillfully navigating through complex negotiations to ensure optimal participation, pricing, and terms and conditions.

The Impact You Will Have

Reporting to the Regional Head of Natural Resources & Construction, Asia Pacific of Allianz Commercial, you’ll bring your established relationships with brokers and insureds to successfully underwrite profitable new and renewal business fitting within the Natural Resources & Construction team’s risk appetite.   

Your Responsibilities Would Include

Underwriting Profitable Business

• Underwrite large new and renewal accounts to meet top and bottom-line targets regionally. Negotiate participation, pricing and terms and conditions with brokers. Proactively manage capacity.

• Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios.

• Underwrite International Insurance Program.

• Specialized technical expertise / lead for Downstream Energy with working knowledge in Upstream Energy.

Underwriting Approach and Compliance

• Underwrite in line with LoB governance framework - e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules, and Principles.

• Ensure contract certainty is achieved on all accounts at time of inception.

• Ensure utilisation of global pricing tools.

• Ensure placing and binding of FAC Reinsurance prior to policy inception.

Policy Documentation and Administration

• Ensure accurate policy documentation issued to broker (where it’s Allianz Commercial’s responsibility to do so) or broker has issued documentation (where it’s broker’s responsibility).

• File maintenance – ensure file is established and maintained for each risk and transaction handled.

• Proactively support completion of policy administration and credit control processes.

Underwriting Strategy

• Contribute to development and execution of regional Underwriting strategy.

• Training, developing, and coaching of less experienced staff (including Underwriters).

• Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate.

Market & Relationship Management

• Proactively support acquisition of new business and retention of existing business for large clients (including client and broker negotiations where necessary).

• Proactively liaise with Distribution team on market management initiatives.

• Positively represent Allianz Commercial externally to the market with key brokers / distribution channels.

• Proactively drive involvement of functional areas in Underwriting process, including e.g., Distribution, Risk Consulting, Claims, Operations.

• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders.

What You’ll Bring to the Role 

Required Experience

• Significant experience in Underwriting profitable business in the Natural Resources or Construction market. Specialized expert understanding in Downstream Energy with working knowledge in Upstream Energy is required.

• Recognized relationships with brokers at peer group level and well established within market.

• Specialized understanding of regional / local insurance markets and competitor landscape, including global elements.

• Good understanding of legal and regulatory framework.

• Experience working in complex, global matrix organization.

Technical Skills

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB.

• Pricing and Market management: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs.

• Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings.

• Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.

General Skills

• Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally. Ability to "sell" an improvised or prepared audience winning story.

• Influencing skills: Ability to persuade and motivate others to act, without executive authority.

• Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.

• Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is highly beneficial.  

Required Education

• Preferably a degree in Engineering, Economics or other appropriate discipline.

• Completion of professional insurance qualification (e.g., CII).

Language

• Fluent in written and spoken English.

• Fluency in second Asian language is advantageous

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us. Let's care for tomorrow.