Underwriting Officer

1 month ago

Makati City, Philippines AXA Group Full time
SPAN OF CONTROL:

To ensure profitability of the line and to provide support to the whole Residential Property team ensuring that the team goals are aligned to corporate goals and strategies.

KEY RESPONSIBILITIES:

  1. Assists in achieving company's goal in terms of profitability and GWP.


  1. Underwrites and negotiates business within Delegated Authority Limits (DAL), ensuring that underwriting referrals are managed within agreed turnaround time.


  1. Manages the underwriting delegation process and monitors underwriting results through implemented set parameters for post underwriting audits and renewal reviews.


  1. Implements and adapts regional underwriting guidelines.


  1. Develops relationships with stakeholders to ensure that business needs are achieved.


  1. Screens and evaluates Residential Insurance applications for fleet accounts coming from various sources of business. This includes referral to Group/GI Hub for approval.


  1. Conducts post underwriting review covering issued policies to validate and check correctness of its terms and conditions. Post audit memos are given to sources or other units to raise and address inconsistencies seen in the review. Makes process changes to make the process controls are in place efficiently so that post underwriting is no longer needed.


  1. Coordinates with Insurance Commission regarding audit results and other matters such approval on warranties and products.


  1. Coordinate with General Insurance Actuarial on Pricing and Portfolio Risk Analysis and Management


  1. Keeps informed of market developments, novelle products and market innovations.


KEY CUSTOMERS AND

STAKEHOLDERS:

Internal:

  • Actuarial (Pricing, Valuation and Controls, Retail Underwriting)
  • Finance (Financial Controlling and Accounting)
  • Commercial Business (Underwriting, Reinsurance, Claims, Distribution)
  • Retail Proposition (Product Management, Segments)
  • Retail Distribution (Channel Heads)
  • Technology and Transformation (Data Management)
  • Office of the President (Corporate Strategy, Risk Management, Compliance, Internal Audit)
  • Asian Markets Office (GI Hub, Business Support and Intelligence, Risk Management)


External:

  • Insurance Commission
  • Philippine Insurance Rating Commission


EXPERIENCE AND QUALIFICATIONS:

  • College graduate, preferably a degree in any Numerical Course or Business Management
  • With at least 10 years of relevant experience in Residential Property Underwriting
  • Critical thinking
  • Proficient in English, both oral and written
  • Computer Literate (Microsoft Office, Power BI)
  • Able to communicate effectively with senior management and key stakeholders the bases as well as implications of actuarial and financial results
  • Has high stakeholder management competency


A global leader in insurance and investments, AXA takes care of 103 million lives in 64 countries worldwide. We actively invest in pioneering and personalized solutions to meet your ever-changing needs and exceed your expectations. In the Philippines, we are in partnership with Metrobank, one of the country's strongest banks.

Established in 1999, AXA Philippines is one of the largest and fastest growing life insurance companies in the country. It offers financial security to more than one million individuals through its group and individual life insurance as well as general insurance products through its subsidiary Charter Ping An.

AXA Philippines is one of the first to introduce bancassurance operations in the country, and is among the pioneers in the investment-linked insurance sector.

AXA now offers a complete range of products for all its customers' insurance and financial protection needs, including savings and investments, health plans, income protection, and health coverage; and through its general insurance subsidiary Charter Ping An Insurance Corporation: fire, motor car, marine cargo, personal accident, bonds, casualty, and engineering insurance products.

AXA Philippines closed 2017 with P26.4 billion in total premium income and P5.7 billion in gross written premiums from Charter Ping An. Today, AXA has more than 4,000 financial advisers in 36 branches, and 700 financial executives in over 900 Metrobank and PSBank branches nationwide. Charter Ping An, on the other hand, has 22 branches nationwide and 2,007 agents.

AXA Philippines is a joint venture between the AXA Group, headquartered in France, and the Metrobank Group, one of the largest financial conglomerates in the Philippines.

The Metrobank Group is a conglomerate of industry-leading businesses that includes First Metro Investment Corporation, Metrobank Credit Cards, Federal Land, Toyota, and Manila Doctors Hospital. It was hailed Best Bank in the Philippines in 2010, 2011, and 2012 by Euromoney and recognized as the strongest bank in the Philippines by The Asian Banker in 2013. It is owned by the Ty Family whose major business interests include financial services, real estate development, power, and manufacturing.

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