COMPANY DESCRIPTION
A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.
A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions. In 2023, 2022 and 2020, MSIG Singapore was awarded Insurance Asia Awards' Claims Initiative of the Year.
MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group - one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.
RESPONSIBILITIES
The incumbent will be responsible for supporting all Managing General Agents (MGAs) related business are conducted prudently, efficiently and profitably and in full compliance with regulatory and group requirements.
Job Responsibilities:
- Strategic Partnership & Business Development
- Support review of business cases and due diligence on MGAs, underwriters.
- Prepare partnership or product launches and arrange treaty cover.
- Support crossselling initiatives.
- Regulatory & Compliance Oversight
- Manage applications to regulators (MAS, GIA), Head Office (HO), etc.
- Ensure adherence to legal, regulatory, and group policies.
- Ensure accurate monthly reports and proper agreements, binders, and guidelines are in place.
- Underwriting Governance & Technical Excellence
- Support referral of accounts to MA / HO / Treaty / CEO where required.
- Ensure prudent technical underwriting and reasonable turnaround times (TAT).
- Maintain technical competency through bestpractice sharing, training, and development.
- Conduct / coordinate audits.
- Portfolio & Performance Management
- Collaborate with Business Units, Segment Profit Centres, Reinsurance, Data Intelligence & Actuarial, Claims and Finance to manage profitability and loss ratios.
- Monitor pipeline, performance vs. plan, and annual portfolio results.
- Conduct financial projections, PC calculations, and assess impacts of IFRS17, capital requirements, PPF, etc.
- Systems, Processes & Training
- Work with workgroups to setup processes / systems
- Assist in developing IT systems and defining user requirements for enhancements.
- Provide training to internal staff on products, systems and processes as needed.
- Undertake any other duties as may be assigned
QUALIFICATIONS
- Tertiary qualification and / or Insurance professional qualifications
OTHER INFORMATION
- At least 5 years experience in re/insurance
- Knowledge of Underwriting, Reinsurance and Claims (underwriting, pricing, audit, referral, review of policy wording and product enhancement)
- Business analysis
- Conceptual capability
- Relationship building
- Portfolio Management
- Project Management
- Insurance Processes
- Technology and Systems
- Financial Analysis
- MAS Regulations
- GIA Requirements
- AXCO and Country Regulations
Please note that your application will be sent to and reviewed by the direct employer - MSIG Insurance (Singapore) Pte Ltd
