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- Set the direction in New business underwriting
- Lead and organize the effective control risk
- Underwriting Capability Development
Role Purpose:
- Manage New Business and Underwriting team to ensure all new business cases process and issue within the agreed turnaround time to ensure the achievement of the required business production
- Manage complex underwriting cases and deviations that fall beyond the normal UW guideline, introducing and adopting new ways of underwriting, including AI, to help underwriters perform better and faster risk assessment
- Work closely with each distribution channels and keep good relationship with partners to ensure great onboarding customer experience
Organization Context:
- New Business and Underwriting (NB&UW) is one among the first step of the customer journey at Prudential Life Assurance (Thailand), working with Distribution channels, Product, Actuarial, Reinsurers, Claims, Compliance, Technology and Policy Services.
- Modernizes NB&UW through digital onboarding, straight-through processing, auto underwriting and AI-assisted risk assessment, so routine cases are decided automatically and underwriters focus on complex cases and deviations beyond the normal UW guideline.
- Supports the front line (agents, financial advisors and partners) with faster decisions, clearer underwriting requirements and proactive case status updates, so they can spend more time with customers and give them a quick, simple and transparent onboarding experience.
Key accountability
- Manage New Business and Underwriting team to ensure all new business cases process and issue within the agreed turnaround time to ensure the achievement of the required business production
- Work closely with each distribution channels and keep good relationship with partners to ensure great onboarding customer experience
- Contribute to the development and review of the business plan and implement strategic objectives of the department to ensure continued business growth and profitability
- Provide strong leadership by developing an effective and motivated team and ensure that all staff enable delivery the superior service to customers and partnerships
- Ensure the productivity and service level are managed within agreed turn around time
- Drive towards the automation to have less reliance on human and explore. Adopt new innovation i.e. AI UW to provide its best service to customer
- Provide technical guidance on business evaluation and acceptance in accordance with the program and acceptable business standards and ensure maintenance of sound underwriting standards and efficient process flows.
- Effective communication of decision and performance to Distribution also customer, including regular reports and follow-up for improved quality of business.
- Key Service Level delivery for the segment, including NB UW and Policy issuance Turn-around-Time, Conversion, Large/ Complex Case negotiation with Reinsurers and other stakeholders.
- Control to the risk management function of the department to improve the performance of the portfolio and manage the overall loss ratio to the acceptable levels.
Qualifications:
- Leadership Experience in managing Life & Health Operations & Technical Functions (Underwriting/ Claims/ Products)
- Experience in Delivering High Value and Multi-Function Operations Initiatives
- Graduate/ Post Graduate, with preference to background in Technical Areas like Actuarial, Medicine, Finance and similar
- Demonstrated ability in Business Development and Negotiation and lead a Team Environment.
- A Pleasant and Self-Driven/ Independent leader, capable to drive complex initiatives
- Working in and with large teams of multiple stakeholders
- Strong Customer Focus with special interest in driving automation initiatives
- Planning and Execution capabilities, with preference to skills/ training in Project and Quality Management
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.
