Purpose of the Role
The New Business Manager is responsible for overseeing the daily operations and performance of the quote and new business underwriting team. This role ensures accurate risk selection, efficient processing of new business, adherence to underwriting standards, and achievement of turnaround times and conversion targets. The position includes team leadership, risk evaluation, and reporting, with a strong emphasis on stakeholder engagement, training, and continuous process improvement.
Key Responsibilities
Team Management
-Manage team workload and ensure optimal capacity planning.
-Provide leadership, mentorship, and technical support to team members.
-Conduct training and upskilling sessions to improve underwriting quality and product knowledge.
-Oversee quality control of quotes and new business policy issuance.
Underwriting and Risk Selection
-Review underwriting surveys for new quotes and liaise with Sales Broker Consultants and Managers for alignment.
-Ensure risk selection aligns with company underwriting guidelines and appetite.
- Enforce appropriate risk requirements and underwriting conditions with all broker quote submissions.
Facultative Reinsurance (FAC)
-Arrange and obtain facultative reinsurance quotations when required.
-Bind approved FAC quotes and ensure accurate capturing on the Tial system.
Reporting and Analytics
-Monitor and report on quote volumes, conversion rates, turnaround times, and decline reasons.
-Identify patterns and provide feedback to improve conversion and pricing competitiveness.
-Work closely with actuarial or pricing teams to monitor quote trends and business performance.
Stakeholder Engagement
-Engage with brokers and internal teams to address underwriting queries and improve quote conversion.
-Collaborate with distribution and product teams to ensure alignment in risk appetite and pricing approaches.
Minimum Requirements
-Bachelor’s degree in Insurance, Risk Management, Business, or related field (preferred).
-AIISA, FIISA or equivalent professional insurance qualification advantageous.
-Minimum 8 years of short-term insurance underwriting experience, with at least 3 years in a leadership or management role.
-Strong knowledge of short-term insurance products, underwriting practices, and quote conversion dynamics.
Job Type: Full-time
Work Location: In person