Hong Kong Job Openings
Chubb
Chubb Life: Head of Underwriting and Reinsurance North Asia
FULL TIME
September 4, 2024
We are a leading international Life insurance organization, committed to delivering top-notch financial solutions in the life insurance sector. Our company operates on a global scale, serving clients from diverse regions and backgrounds. We are seeking a talented and versatile professional to join our team to lead the Reinsurance and Underwriting functions for Hong Kong, Taiwan, China and Korea.
This role requires an individual who is fluent in the language of actuaries and underwriters while possessing exceptional communication skills to effectively engage with marketing and finance personnel. Additionally, the successful candidate should have expertise in reinsurance, marketing, life underwriting, Reinsurance P&L management, UW and Reinsurance aspects of product development, and underwriting automation utilizing new technologies.
Role and Responsibilities:
1. Reinsurance Strategy and Execution:
This role requires an individual who is fluent in the language of actuaries and underwriters while possessing exceptional communication skills to effectively engage with marketing and finance personnel. Additionally, the successful candidate should have expertise in reinsurance, marketing, life underwriting, Reinsurance P&L management, UW and Reinsurance aspects of product development, and underwriting automation utilizing new technologies.
Role and Responsibilities:
1. Reinsurance Strategy and Execution:
- Develop and execute comprehensive reinsurance strategies to promote and sell life insurance products in North Asia.
- Support targeted marketing campaigns and initiatives to attract new clients and expand current partnerships.
- Lead and inspire cross-functional teams, influencing local functional leaders to align with the global reinsurance strategy.
- Manage the profitability and performance of the reinsurance portfolio, overseeing pricing models, risk assessments, and underwriting practices.
- Analyze and evaluate the financial impact of new reinsurance partnerships and pricing structures.
- Collaborate with finance teams to monitor and optimize the profitability of the reinsurance business, ensuring alignment with overall company objectives
- Nurture strong relationships with key reinsurers, top senior management, and stakeholders to foster partnerships and drive growth.
- Engage and collaborate with senior management of major reinsurers to ensure alignment of business objectives and maximize opportunities.
- Effectively communicate with top senior management, utilizing efficient communication styles and influencing strategies to drive success.
- Utilize in-depth knowledge of life underwriting principles and risk assessment techniques to evaluate risk exposure.
- Collaborate with the underwriting team to assess and mitigate risks associated with life insurance products and portfolios.
- Provide guidance and support to underwriters in complex underwriting cases, ensuring quality and accuracy in the underwriting process.
- Collaborate with the product development team to provide reinsurance and underwriting expertise and insights for the creation and enhancement of life insurance products.
- Ensure that products are aligned with market needs, risk management guidelines, and regulatory requirements.
- Contribute to the development of pricing models, risk assessment frameworks, and underwriting guidelines for new and existing life insurance products.
- Conduct thorough market research and competitive analysis to stay up-to-date with industry trends, market dynamics, and opportunities.
- Analyze competitor offerings, pricing models, and risk management strategies to identify competitive advantages and areas for improvement.
- Utilize market insights to help develop innovative life product offerings from an Underwriting and Reinsurance standpoint.
- Conduct audits to ensure compliance with regulatory guidelines and best practices in reinsurance and life underwriting.
- Evaluate underwriting practices, policy parameters, and risk management guidelines to identify areas for improvement and enhance operational efficiency.
- Collaborate with internal teams to implement audit recommendations and maintain high standards of compliance and quality in reinsurance practices.
- Utilize underwriting automation tools and new technologies to streamline and improve efficiency in the underwriting process.
- Collaborate with Underwriting teams and technical experts to implement automated underwriting guidelines and risk assessment methodologies
- Bachelor's degree in Actuarial Science, Mathematics, Economics, Finance, or related field. Advanced degrees and professional certifications such as FSA, FCIA, FLMI, or equivalent are strongly preferred.
- Postgraduate studies in Business Management and Insurance.
- Proven experience (minimum 10 years) in leadership roles within the life insurance/reinsurance industry, specializing in reinsurance and life underwriting.
- Strong understanding of reinsurance strategies, life underwriting principles, risk assessment techniques, and regulatory compliance.
- Excellent communication and interpersonal skills to engage and build relationships with reinsurers, top senior management, and stakeholders globally.
- Demonstrated leadership abilities, with the capability to influence and inspire cross-functional teams and local functional leaders towards shared goals.
- Strong analytical and strategic thinking skills, with the ability to synthesize complex concepts and present them persuasively to diverse audiences
- Proven track record in developing and executing successful reinsurance strategies, acquiring new clients, and expanding existing partnerships.
- Languages: Business proficiency in English and Chinese. (Korean is a big plus).
- Up-to-date knowledge of industry trends, developments, and best practices related to reinsurance, marketing, life underwriting, and compliance.
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