Job Summary:
Our Client is looking for Head of Motor business across underwriting, claims, and operations by setting AFIC-compliant underwriting guidelines, processes, and SLAs; develops and executes a profitable Motor strategy aligned with regulations and company objectives; drives high performance through coaching and branch-level governance; builds market intelligence to enhance the value proposition; and reports monthly on company and branch performance with corrective actions as needed.
Key Responsibilities:
- Underwriting;
- Ensures proper implementation of the Motor Department Policies and Procedures and recommend changes for improvement.
- Monitors implementation of UW guidelines, authority limits, tariffs and renewal rules.
- Sets Motor Plan along with other stakeholders.
- Monitors growth development as per set budget.
- Monitors profitability as per budget.
- Data analysis.
- Risk assessment and handling referrals.
- Drives a secure environment by applying system controls needed and abiding by the regulator rules.
- Works closely with the motor claims team (loss ratio, severity, Jumbo claims, new practices,renewals…)
- Ensure balance between attracting and retaining customers.
- Develop value propositions.
- Market-facing activity.
- Market intelligence (new products, opportunities, tariffs, commissions, trends…)
- Ensure premiums are competitive and accounts remain profitable.
- Handles referrals as per authority limits.
- Keeps detailed and accurate records of non-standard cases and decisions made.
- Performs on quarterly basis. UW Risk Assessment and Quality Assurance review.
- Assures proper implementation of policies and procedures
- Issues quote as per UW guidelines and agreed upon SLAs.
- Assist other stakeholders in building the annual budget.
- Interviews new applicants when necessary.
- Provides training when necessary
- Keeps the communication channel open with UWs in all branches and with other business units.
- Approves the annual leaves of his/her staff.
- Determines the training needs of his/her staff
- Evaluates the performance of his/her staff
- Attend seminars as per the approved budget.
- Provides orientation and on-the-job training to new employees and trainees when needed.
- Complies with Arabia Code of Conduct and ensure that it is fully adhered to all times his/her staff.
- Carries out any other assignment as required by his/her superior.
- Claims:
- Responsible for procedures for approval for all types of Motor Business Underwriting and Claims.
- To delegate and monitor authority to approve policies and ensure underwriting guidelines are as per Falcon’s philosophy.
- To assist the Management in all types of corporate class of accounts.
- To assist in conducting periodic review of treaty arrangements, treaty negotiations, prepare necessary statement and statistics.
- To assist the CEO in the preparation of annual department budget, monitor and evaluate the budget with the results and remedial measures when the situation demands.
- Active involvement in preparation of marketing strategies to secure healthy and steady growth of business and to monitor achievement of goals and objectives.
- To manage and maintain contact with brokers with respect of motor
- To delegate and monitor procedures for claim intimation, repair/salvage quotations, claim settlements, RI interactions, out of court settlement
- Maintain, update information on market developments, gather market intelligence reports and provide feedback to the CEO.
- To monitor and evaluate profitability, efficiency and productivity of the department as well as individual staff and take appropriate steps to rectify negative situations.
- To visit and maintain contacts with brokers and clients in consultation with the CEO
- To conduct monthly meeting with the departmental head and staff as agreed with the Management.
- To report cases above own authority for approval by the CEO.
- To achieve improvement in profitability and efficiency of the reinsurance function by continuously reviewing the company’s reinsurance capacity and the best practice in the international insurance industry.
- Ensure compliance with RI inclusions & exclusions at the time of extending insurance cover
- To keep track of claims exceeding treaty limits & ensure timely correspondence approvals from RI companies
- To ensure periodic review of motor underwriting rates and ensure they are in line with the market and manage Falcon’s underwriting risks
-
Requirements:
- Bachelor’s or master’s degree in business Administration, Insurance, or related fields
- At least 10 years’ experience in the Insurance industry
- Acquires considerable Knowledge in motor vehicles, types, models and engine power.
- Ability to lead and influence others.
- Strong interpersonal and communication skills.
- Willingness to work a flexible schedule.
- Results Oriented.
