Job Description
General Overview:
Our client a leading Insurance Broker is looking to hire a Assistant Vice President to join their team in Khobar, KSA.
This role will provide the successful candidate the opportunity to spearhead the implementation of the strategic objectives of the Reinsurance departments.
Main Functions and Responsibilities:
Develop and implement an efficient departmental structure to optimize operations and enhance productivity.
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Create and maintain a logical and streamlined workflow to ensure smooth processes and effective task management.
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Collaborate with the IT department to establish and maintain an appropriate IT system aligned with the specific needs of the department and the broader business.
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Cultivate and maintain strong relationships with brokers, ceding companies, underwriters, and reinsurers to facilitate effective communication, negotiation, and problem-solving.
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Conduct regular and structured meetings with major clients, insurers, and account executives to strengthen relationships, address concerns, and explore business opportunities.
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Stay informed about current underwriting practices, market trends, and industry developments to make informed decisions and provide expert advice to clients.
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Coordinate with the HR department to ensure staff training and development programs that emphasize awareness of current market practices and knowledge of best practices.
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Advise customers on material developments related to their claims, providing guidance and support throughout the process.
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Prepare well-crafted responses to insurers on behalf of clients or account executives, ensuring clarity and accuracy in communication.
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Demonstrate a proactive approach by questioning ambiguities and seeking clarification from clients when necessary to ensure accurate and complete information.
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Possess a deep understanding of the nature and sources of law, including tort law, contract law, and insurance contract law, applying this knowledge to local and overseas contexts.
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Conduct technical underwriting analysis, geocoding, and pricing, collaborating with engineers for risk assessments and grading.
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Adhere to relevant rules and regulations concerning taxes, levies, policy issuance, data protection, money laundering, client monies, and terms of business agreements.
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Establish supplementary work procedures and ensure adherence within the department to maintain efficiency and compliance.
- Produce accurate and timely management information, providing valuable insights and reports as required to support decision-making processes.
Requirements
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Strong attention to detail and organizational skills to ensure accuracy and efficiency in tasks and processes.
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Negotiation skills to effectively engage with brokers, insurers, and other parties in negotiating terms and conditions.
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Preferred educational background includes a university degree in Engineering.
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Certification in insurance is preferred.
- Reinsurance & Broker experience, demonstrating practical knowledge and expertise in the field.
Industry
Insurance
City
Khobar
Province
Khobar
Country
Saudi Arabia
Postal Code
31952
