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Job Description
Position :Head of Non-EnergySection : Underwriting ? General InsuranceCompany :Al Koot Insurance & Reinsurance CompanyLocation :Doha, QatarNo of resources : 1ROLE PURPOSE:Responsible for assisting in the development and formulation of the underwriting strategy for Al Koot, based on which the underwriting policies, procedures, plans and manuals are established that aids in achieving group underwriting results. The Head of Non-Energy will carry Research & Development to design new insurance products, product mixes; and to plan the launching of new products across Al Koot synergizing capabilities; holding client seminars, conferences, conducting awareness programs and ensuring adherence to the policies and procedures, laws, in order to achieve Al Koot?s set goals and objectives. Make steady growth in the Non-Energy business while maintaining healthy loss ratios.KEY ACCOUNTABILITIES:Supervision of Subordinates
- Organise and manage the activities and work of team of underwriters and subordinates to ensure that all work within a specific area of underwriting activity is carried out in an efficient and procedurally compliant manner.
Underwriting
- Manages & oversees the Non-Energy insurance underwriting program.
- Promote and develop Non-Energy book of business in a profitable manner
- Provide strategic direction, underwriting control and action for Non-Energy portfolio
- Act as the focal point for Underwriting Non-Energy within the underwriting department
- Lead Product Underwriting best practices
- Ensure proper application of underwriting methodology and risk appetite of new and renewal business Assemble and analyze data in order to estimate Al Koot?s insurance premium and provide quotation.
- Review Al Koot?s endorsement requests and loss control reports.
- Appraise and underwrite Al Koot?s insurance applications.
- Compute competitive quotations in line with the Company?s underwriting philosophy and send it to the Underwriting Manager for review and approval, to be discussed with clients.
- Set the premium rating and guidelines that may aid the insurance business units in achieving the desired operating results.
- Prepare technical accounts per class of insurance business.
- Put up budget and business plan for Non-Energy portfolio
- Assist in calculating solvency margins and assist with the calculation of adequate retention level
Reinsurance
- Prepare Al Koot?s reinsurance requests in coordination with the Reinsurance Manager, and submit it to Underwriting Manager for review and management approval.
- Purchase reinsurance (only with approval) when needed, review reinsurance certificates and contracts, ensure it meets with our requirements and complete reinsurance documentation
- Ensure that business acceptances and computations are in line with Al Koot?s reinsurance treaty arrangements and prepare appropriate supporting reinsurance documents.
- Support the Reinsurance Function in negotiations and determination of business requirements.
Risk Exposure
- Determine individual risk acceptability, pricing, coverage, terms and liaise with the Chief Officer General Insurance on Al Koot?s risks of a complex nature.
- Identify and calculate the risk of loss from Al Koot?s policyholders.
- Specify conditions to be imposed on different types of policies, to minimize risk.
- Ensures balanced portfolio and business profitability.
- Review accumulation on our participation on the same risk or other neighbouring risk
- Manage accumulation table by updating on regular basis
Coordination
- Closely coordinate with the Reinsurance & Claims section to ensure smooth functioning.
- Support the Reinsurance Function in negotiations and determination of business requirements. Brokers, Agents and ceding companies
- Directly coordinate with international brokers and agents and insurance companies for Underwriting business
- Drive the broker?s performance and support Claims and Credit Control activity where necessary.
Documentation
- Ensure policy and accounting documentation are completed accurately as well as in a timely manner and sent to the clients/brokers/ceding companies/reinsurers
- Provide timely, accurate and complete progress reports to the Underwriting Manager on the financial and operational progress of the Business Line and the achieved results.
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