Underwriter - Construction

Underwriter - Construction

Mumbai, India

XLICSE is an Ireland domiciled insurer with branches throughout the EU, as well as Australia, Hong Kong, Singapore, Malaysia and India.  It primarily writes property, engineering, financial lines, casualty and specialty insurance and facultative reinsurance for large national and multinational corporations and leading insurance companies.  XLICSE is part of AXA XL (a division of AXA group) which also operates in several jurisdictions worldwide.

Having obtained the certificate of registration from IRDAI to operate as a reinsurance branch located in Mumbai in 2017, the branch is well positioned to effectively develop and service clients of AXA XL in India.

As a Facultative Underwriter of the India Reinsurance branch for  Construction LOB, you willsupport to deliver a profitable ‘Underwriting book while at the same time, showcase AXA XL expertise and establish it as a influential participant in Indian facultative market. Key tasks include: identify and develop new business opportunities by building and maintaining relationships with brokers and cedants, underwriting business within the agreed business plan, appetite & individual authority ; supporting the business planning and forecasting process; monitoring financial exposure within outlined limits; monitoring premium income and portfolio health to ensure it remains aligned with company’s objectives ; maintaining awareness of all claims advised while supporting and providing inputwherever needed; assisting in planning and executing the underwriting strategy on individual risks and/or portfolio level.

This is a regulated role under the Central Bank of Ireland’s Fitness and Probity regime.

What you’ll be DOING

What will your essential responsibilities include?

• Reviewing complex submissions related to Construction projects from various aspects including but not limited to associated exposure, coverage, policy wording & clauses, terms & conditions, risk management, loss trends, and financial metrics, all the while conducting appropriate research to determine what is in best interest of AXA XL. Independently assess assigned risks within UW appetite and prepare recommendations for risks requiring referral.
• Ascertaining appropriate risk premium by considering the risk costs & exposures inherent to the respective sector as well as the Underwriting and general administration costs while ensuring profitability.
• Proactively having regular dialogue with brokers / cedants to spot for potential opportunities, carrying out negotiations, advising AXA XL position as per underwriting appetite building a sustainable Construction book.
• Prepare and manage documentation as per internal guidelines, ensuring contract certainty and procedural compliance.
• Effective relationship management to tap new opportunities and simultaneously ensuring account retention.
• Deep understanding of industry, market needs and best practices which helps in showcasing the technical proficiency of the company and contributes towards positioning AXA XL as reliable & reputable go to market.
• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income and portfolio health to ensure it remains aligned with company’s objectives.
• Maintain awareness of all claims advised while supporting and providing inputs, wherever needed
• Working collaboratively in a team environment – assisting underwriters from other LOBs, underwriting assistants, Actuarial, Risk engineering, Operations, claimsand management team.
• Ensure all underwriting activities/ decisions comply with internal guidelines, industry standards, and regulatory requirements.

You will report to the Underwriting Manager.

What you will BRING

We’re looking for someone who has these abilities and skills:

• Bachelor’s Degree preferably B.E or B.Tech in Civil & Mechanical.
• Possess functional & technical knowledge and skills in Construction underwriting with upto 10 years of industry experience.
• Ability to work independently on assigned tasks.
• Ability to respond to a changing environment with flexibility and innovation.
• Marketing - Effectively plan for business development. Integrating the use of various techniques, tools, and information to support profitable business growth over a defined period.
• Negotiation & communication - Plan, structure and conduct negotiations with brokers and/or cedants and effectively back them with effective communication skills to reach outcomes that gain the support and acceptance of all parties.
• Analytical Skills – Visualize, gather information, articulate, analyze and solve complex problems.
• Interpersonal Savvy – Build effective interpersonal relationships with brokers, cedants & colleagues with the intention of improving personal profile and reputation within AXA XL and at broader market level.
• Industry Knowledge - Understanding of the insurance industry and trends which have potential to positively / negatively impact the Line of business

Who WE are

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.

With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

Learn more at axaxl.com

What we OFFER

Inclusion

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.   At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
• Robust support for Flexible Working Arrangements
• Enhanced family-friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

Learn more at axaxl.com/about-us/inclusion-and-diversity.  AXA XL is an Equal Opportunity Employer.

Total Rewards

AXA XL’s Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.

We’re committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action:  We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

For more information, please see axaxl.com/sustainability.