AVP, Product-Accident & Health Underwriting

This is a team leading role, the successful candidate will manage a niche team and report to our Chief Product Officer, Personal Lines.  He/she will ensure a profitable book of A&H (including Group Life) Insurance business by appropriately evaluating the acceptability of risks within established authority levels and making pricing recommendations to maximize profitability, controlling all aspects of the daily underwriting profile. Partnering closely with the other product teams, he/she will have to ensure a sustainable and profitable growth strategy that keeps Liberty ahead of the market.  


JOB DUTIES 

• Lead Underwriting team and establish health underwriting and pricing guidelines for Hong Kong including Group Life and Medical, Personal Accident and Group Travel products to improve both long-term and short-term profitability and drive growth.
• Drive Quotation workflow efficiency and ensure the Underwriting discipline and escalation of UW decisions.
• Provide UW and Pricing support to Liberty partners on IPMI products for both Individual and Group businesses.
• Contribute to the implementation of underwriting strategies and solutions such as pricing, product development, underwriting tools and processes for a portfolio or product line.
• Responsible for the performance, development, and coaching of staff (e.g. hiring, termination, performance review, and salary adjustments).
• Evaluate and recommend pricing for Group renewal cases for Sales negotiation and Support Distribution channels in effective management of Agent / Broker relationships (e.g., product enhancements and modifications).
• Provide case-by-case pricing for policies outside of the guidelines.
• Achieve profit Objective on Underwriting and Pricing, including review of claims loss ratio, Policy benefits, Policy terms and conditions in accordance with Underwriting guidelines.
• Provide coaching and training to the Operation Team and Sales Team, as well as delegating and monitoring performance for the respective underwriting authority.
• Work closely with the Actuarial and IT teams in developing, updating and maintaining the quotation tools and the formulas regularly.
• To periodically participate in discussions with Senior Management in reviewing business results for decision-making of company planning & strategy; assist with the preparation of timely budgets, plans, and forecasts.
• Lead the rollout of new products, prices or other changes from the Product lead; conduct market analysis and in-depth data analysis for product pricing strategies and benefit offers to maintain the competitiveness of product offerings and ensure the underwriting practice is up to market standard.
• Work with Legal, Compliance and Operation teams to design and review policy terms and conditions plus all marketing publications to reflect the Underwriters’ intention in all the product offerings and claims execution.
• Work closely with Sales, Marketing, Operations and Claims to ensure our products and services meet customer needs.
• Liaise with Reinsurance for the reinsurance management.
• Support on ad hoc projects and initiatives. 

REQUIREMENTS: 

• Bachelor’s degree in Actuarial Science, Mathematics, Economic or related disciplines.
• Minimum of 8-year experience in product & pricing development or underwriting in insurance industry, focusing on product management in Life & Medical, PA and Travel products.
• Proven track record and solid experience in underwriting, risk management and portfolio management for Group and Individual business for both Local and IPMI A&H products.
• Exposure to in regional underwriting and pricing management will be an added advantage.
• Able to collaborate with stakeholders to drive positive business outcomes.
• Exceptional planning, analytical, decision-making and communication skills.
• Excellent command of both written and spoken English and Cantonese.

About Liberty Insurance in Hong Kong

Liberty International Insurance Limited in Hong Kong is a 100% owned subsidiary of the Liberty Mutual Insurance Group. We first started as OTB Assurance Ltd in 1973. In November 1999, Liberty Mutual Insurance Group acquired 70% shares of the company and was renamed as "Liberty International Insurance Limited". Liberty Mutual Insurance Group took over the remaining 30% shares three years later.

Today, we offer a wide range of insurance products and services for individuals and corporations, including private motor, individual and group Life and Medical, office and shop packages, etc. We are one of the leading Insurance providers in Hong Kong. The Company distributes Medical, Property and Casualty insurance and services through professional and registered agents and brokers.
 

Liberty Mutual Insurance Group

Headquartered in Boston, Liberty Mutual Insurance Group is a diversified global insurer and the sixth largest global property and casualty insurer based on 2020 gross written premium. We rank 86th on the Fortune 100 list of largest corporations in the U.S based on 2022 revenue. As of 31 Dec 2022, we had $50 billion in annual consolidated revenue. We employ 50,000 people in 29 countries and economies around the world.