Underwriter/Senior Underwriter, Cedant Facultative - Construction

Job Summary

SCOR has created a new Facultative Reinsurance team to further our success in this market. Whilst Facultative underwriting is not new to us, our focused approach will help secure our position as a market leader. Creating this book of business in collaboration with the wider Insurance and Reinsurance teams is where this role begins.

Within this role you take part in SCORs Facultative Reinsurance offering for Construction projects, across Asia Pacific, developing relationships with clients, and with our wider underwriting teams.

As a Senior Underwriter for Construction in APAC, you will support the strategic engagement for our business development, including business origination and maintenance of the SCOR Cedent Facultative offering to clients and brokers, in the region.

You play a role in the achievement of the Plan, and for the wider profitability of the Cedent Facultative transactions in your regional line of business being part of the success of the underwriting team within the region. Your plan contributions form part of the regional and global Cedent Facultative ambition and is achieved through sound technical and profitable underwriting, supporting the Lead Underwriter of the product within the region.

These goals are achieved through your skill at developing SCOR’s market share and leadership position across Cedent Facultative Reinsurance through enhancing the Group image in the market by efficient and innovative support of client needs, being the partner that our clients not only need but ask for.

Key duties and responsibilities

No two days are the same, but that is how we become the experts that our clients expect to work with. Helping to produce and manage the portfolios of accounts, through the building of strong market relationships, is at the core of your role at SCOR. The guidelines we develop are built to support the underwriting business plan for your line of business, but you play a key role in its delivery.

When you receive, select and evaluate offers of business from various sources, your role is to support in determining the quality of the proposal, analyze the exposure, and at times negotiate the best terms for SCOR whilst satisfying the needs of the client.

Business and Market relationships are key to yours and our success. By maintaining and developing these relationships with clients and brokers and attending broker and client hosted events, you get the chance to be part of our growth.

We want you to be curious and innovative. We see research and development as an important part of our work, with a desire to look at new areas of potential profitable growth.

It is also important to emphasize the importance of working as a team at SCOR. Whether it’s across underwriting, or working closely with Claims and Pricing, we are successful because of this collaboration.

Some of the expectations of your role are;

• Be part of the team delivering profitable growth and diversify the portfolio in accordance with strategy and in accordance with the Facultative Guidelines and practices

• Receive, select, and evaluate offers of business from various sources, calculate pricing, & negotiate conditions of the contracts.

• Take time to identify, research, develop and report on new areas of profitable growth

• Be comfortable in marketing and cross selling the capabilities of other units across the Group, be it Treaties, AS, Specialty Lines or SBS to Managers, Brokers and Ceding Companies
• Develop marketing materials and intelligence documentation based on research and analysis of both the portfolio results and the market data

• Contribute marketing materials and intelligence documentation based on research and analysis of both the portfolio results and the market data

• Provide technical expertise and best practices to underwriters and clients in the region.

• Collaborate with peers in other regions to share market intelligence, best practices but most importantly ensuring that our underwriting methodology is consistent throughout the World.

• Assist other business lines in local market interactions to support the overall SCOR’s growth

• Collaborate with the Claims Function in negotiating/resolving the claims arising from your portfolio.

• Ensure data quality and reporting to all our IT systems

Required experience & competencies

• 10+ years of relevant experience in the insurance industry (underwriting, broking, loss adjusting, risk engineering) , preferably in the Construction/Engineering line of business. Outstanding candidates with less experience will also be considered

• High technical acumen of reinsurance and insurance principals.

Competencies:

Commercial Business Acumen - You are able to negotiate profitable business with a structure that works for both client and SCOR.

Critical Thinking - You can assess complex risks, analyze market trends, and make data-driven underwriting decisions to improve profitability whilst mitigating exposure.

Negotiation & Persuasion - You can lead negotiations involving complex policies, ensuring client satisfaction and profitability, negotiating terms, resolving conflicts, and advocating for clients

Entrepreneurial Spirit - You can identify new market opportunities, develop innovative products and adapt to emerging risks

Intellectual Curiosity - You have the genuine desire to learn, understand and explore new ideas, concepts and perspectives, and produce credible industry collateral to place SCOR as a Market Thought Leader

Emerging Risk Discovery - You focus on identifying and evaluating new risks, monitoring and assessing non-traditional risks, and developing strategies to address these risks