Underwriting

We have a team of insurance underwriters and risk surveyors evaluate risks for both individuals and businesses, determining appropriate coverage terms, premiums and conditions. This involves analyzing a wide range of risk exposure to ensure balanced risk management while adhering to regulatory requirements. Their role is crucial in safeguarding customers while maintaining the Company’s financial stability in order to fulfill our obligations to our customers.

What does a Underwriting department do?

• Assess the inherent risks associated with the policyholder and consider key risk indicators that may impact the likelihood of claims.
• Calculate premiums based on the level of risk, ensuring they are competitive while sufficient to cover potential claims.
• Analyze past claims history to predict future risks and determine the company’s risk appetite and acceptance threshold; ensure strict compliance with underwriting guidelines and risk acceptance authority by business teams.
• Continuously monitor and refine risk assessment and premium calculation methods to reflect current data and trends; take necessary actions to address underwriting or claims issues arising from company portfolio or market trend.
• Develop and regularly review policy wordings and coverage to ensure accuracy, completeness, compliance and competitiveness.
• Review regulatory requirements and ensure compliance with industry standards.
• Conduct pre-risk or post-loss site surveys to support underwriters in risk assessments and making proper underwriting decisions; and also provide risk mitigation recommendations for customers.