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Underwriting & Claims Assistant Manager

Date: Apr 28, 2021

Location: Hong Kong, HK

Company: SCOR

     APAC     

Hong Kong Hong Kong (HK) 

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Underwriting & Claims Assistant Manager 

Permanent 

Underwriting 

 

 

          About SCOR         

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

 

Job Summary

Ensure delivery of consistently high quality underwriting and claims adjudication services for the Hong Kong market.

Provide high quality facultative underwriting assessments within agreed service levels.
Strong focus on client servicing and building relationships through constant client interaction.
Support of business development and product development in the region and involvement in underwriting quality assurance reviews.

Aim:

An established and well respected provider of high quality underwriting and claims services, enhancing SCOR’s ability to write profitable new business.

 

Key duties and responsibilities

 

Provide high quality facultative underwriting assessments within agreed service levels / TAT.

  • Provide high quality decisions on new business cases or increases in existing policies within prescribed personal authority and within agreed turn-around time. This includes both Life & Health portfolio (e.g. Cancer, CI, Medical, Mortality, LTC, and HNW business).
  • Ensure underwriting selection is within SCOR Global Life underwriting and claims guidelines.
  • Perform research and monitor underwriting practices and guidelines, reporting on emerging trends as relevant to SCOR and market.
  • Prepare / generate UW case monitoring report on a monthly basis.

 

Offer expert underwriting & claims supports on regular request for proposal (RFP) exercises / reinsurance quotations.

  • Review underwriting questions, policy and / or benefit provisions, and provide qualitative assessments on to support deal pricing. 
  • Recommend commercially viable enhancements on underwriting terms and conditions where necessary.
  • Ensure underwriting selection is within SCOR Global Life underwriting and claims guidelines.
  • Where necessary, offer high quality written and/or verbal justifications to support change recommendations to clients.
  • Support in the review reinsurance treaty agreement terms and conditions

 

Develop and establish workable underwriting and claims solutions for Product Development initiatives

  • Develop commercially viable UW & Claims requirements and solutions, and ensure robust product Terms and Conditions on SCOR’s new product development initiatives, and / or products distributed via alternative distribution channels (including but not limited to online, social media, bancassurance, etc)
  • Provide technical input to help alleviate pricing concerns and considerations
  • Facilitate the internal product review, and underwriting governance process for new product concepts.
  • Support in the review reinsurance treaty agreement terms and conditions

 

Underwriting and claims innovation – Research, Development and Implementation

  • Research the needs of clients and maximise the potential of the operation in Hong Kong
  • Deliver tailor made solutions including on new product lines by establishing a clear and robust UW & Claims framework.
  • Understand future trend and emerging issues in Underwriting and Claims and identify best practices for potential use
  • Provide insights and recommendations through evidence based research on topics
  • Support the innovation and transformation of SCOR Global Life in the changing insurance environment. This includes technology disruption, machine learning, big data, wellness tools, behavioural economics and product simplification.

 

Training, Quality Assurance, Marketing, and Regional Initiatives

  • Complete relevant underwriting based training for key clients throughout the Hong Kong market.
  • Support marketing seminars in Hong Kong and wider Asia.
  • Assist in client underwriting quality assurance reviews, due diligence exercises and underwriting process reviews.
  • Part of the South Asia Underwriting Support Community and support Regional UW initiatives as requried

 

Relationships

  • Build strong long lasting relationships with clients.
  • Help business development team to enhance client relationships and new business opportunities for the Hong Kong market.
  • Work closely with Regional Underwriting Support Structure ensuring high quality technical underwriting services are provided across the Asia Pacific region.
  • Build relationships with all departments across SCOR Global Life Asia Pacific (eg client management, actuarial, underwriting & claims) in order to contribute to company strategy.
  • Interact with CREDISS (Global underwriting support team) in promoting and developing SCOR’s underwriting services including SOLEM (SCOR’s OnLine Expert Manual).

 

 

Required experience & competencies

 

Experience:

  • Minimum 5 years’ experience as an underwriting professional
  • Strong technical underwriting skills, both medical and financial underwriting
  • High Net Worth underwriting experience is a plus
  • Exposure to both Life and Health (Medical) insurance markets is desirable
  • Reinsurance experience or exposure to reinsurance procedures and activities
  • Experience of facilitating technical underwriting training
  • Involvement in underwriting audits and internal peer reviews
  • Strong network in Hong Kong

 

Personal Competences:

  • Clear and concise verbal and written communication.
  • Confident and engaging manner when dealing with clients or peers at all levels across the business.
  • Strong analytical skills, combined with sound judgement and commercial awareness
  • Ability to be flexible and work with a number of products and clients.

 

 

Required Education

  • Degree holder, Biology or related degree holders are preferred
  • ALU, CII, LOMA, CLU and other relevant professional qualifications