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AIA Singapore Private Limited

Principal, New Business HNW

AIA Singapore Private Limited Singapore
Posted 2 hours ago Permanent Competitive
At AIA we've started an exciting movement to create a healthier, more sustainable future for everyone.

It's about finding new ways to not only better people's lives, but to better the communities and environments we live in. We need great Actuaries who want to be part of something bigger than finance alone. Because the better we can nurture our financial wellbeing as an organisation, the better we can support and make a difference for our customers when they need us most. By ensuring our products are well designed and priced, analysing business performance and ensuring proper management of insurance policies in-force, you're not just safeguarding AIA's financial wellbeing. You're securing a better future for the people and communities we serve - today, tomorrow and for generations to come.

If that interests you, read on.

About the Role

Join our New Business HNW team!

Perform underwriting assessment for high net worth cases and non-HNW cases, within assigned authority and support daily operational tasks. Provide underwriting-related support for the ad-hoc tasks that was assigned.

Key responsibilities include perform underwriting assessment for new business applications including HNW cases, achieving underwriting Key Performance Indicators through active case management. Scope includes Life, HSG and Accident & Health

Responsibilities:
  • Underwrite all HNW applications (formal and preliminary) and communicate decision to intermediaries within agreed Turn Around Time with competitive underwriting decision and minimal requirement(s) calling. This will include negotiating with reinsurers for terms favorable to placing the business. Provide tentative best decision upon first update based on furnished evidence.
  • Resolving enquiries and issues with channel management is also part of the responsibility of this role.
  • Ensure 90% of medical memos are issued within T+1 day.
  • Actively handling own cases appeal with supervisor and postpone and decline cases by directly communicating to agent or BDM on the rationale and any other option that can be explored.
  • To review and improvise our current processes or way of doing things in order to support our strategic priority on Ease of Doing Business.
  • To alert supervisor and speak up in team meeting on any in competitive reinsurer guidelines/decision, inconsistency in underwriting approach, or on any issues/guideline that needs clarification. Review of medical panels and medicals related requests.
  • Involved in Quality Assurance review (audit of cases)
  • Involved in onboarding of first line AML screening by attending compliance training, with target to perform agreed AML screening type by own department, thus reducing the overall case processing time by cutting down compliance referrals.
  • Provide underwriting-related support to business development projects, e.g.: digital transformation, coaching / training, etc.

Requirements:
  • Tertiary qualification, preferably in Science, Biology, Nursing,.
  • At least 7 years working experience in individual life and health insurance underwriting, past exposure in high net worth/ universal life products would be an advantage.

Believe in better with AIA. If you work at AIA, you play an important part in this movement. Which is why we give you every opportunity to learn, grow and shape your career - your way!

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.
Job ID  JR-49089
ABOUT COMPANY
Singapore
Insurance
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance g...
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