Summary
Wataniya Insurance is seeking an Underwriting Manager in Riyadh to lead its underwriting team and oversee new business, renewals, reporting, and regulatory compliance. The role includes evaluating complex risks, reviewing and approving quotations within authority limits, coordinating with actuarial, claims, compliance, brokers, surveyors, and property inspectors, and maintaining underwriting records. Applicants need a bachelor's or master's degree in business administration, economics, commerce, or insurance, IFCE and CII certifications, and 7–12 years of relevant insurance experience with leadership in underwriting or risk management.
The posting
As published on wataniya.com.sa. Pulled from the employer's site and shown as they wrote it.
The Underwriting Manager is responsible for overseeing the entire underwriting department, ensuring compliance with regulatory requirements, managing key reporting and operational tasks, and supporting the Senior Head of Underwriting in strategic and daily functions. This role involves handling complex underwriting cases, leading the team, driving collaboration across departments, and maintaining high standards of service delivery.
Job Responsibilities
Lead and manage the underwriting team, ensuring operational excellence across new business and renewals.
Prepare and analyze regular management and performance reports related to underwriting activities.
Ensure full compliance with Insurance Authority (IA) regulations and internal compliance policies.
Collaborate cross-functionally with departments such as actuarial, claims, and compliance to enhance underwriting practices.
Review and approve quotations and renewal notices within authority limits in accordance with the Authority Matrix.
Handle complex and high-value risks, including risk evaluation, pricing, and coverage conditions.
Supervise the use of the tracking system in coordination with the Assistant Underwriting Manager (AUM).
Conduct regular broker visits to strengthen relationships and support business development.
Refer cases exceeding authority limits to the Senior Head of Underwriting.
Analyze actuarial data and apply sound judgment to determine appropriate premiums and policy conditions.
Ensure timely and accurate issuance of business quotes and renewal notices in alignment with SLAs.
Monitor underwriting results in collaboration with the claims department and recommend adjustments to mitigate risks.
Ensure all sales submissions are complete and eligible for quoting; reject incomplete or unqualified submissions.
Maintain accurate records of policies underwritten, decisions made, and supporting documents.
Job Duties
Study insurance proposals and prepare customized quotations.
Issue client renewal notices, reflecting approved changes.
Assess background information and risk levels using PPW plans.
Coordinate with surveyors and property inspectors to gather risk information.
Compile risk assessment reports and loss ratio data.
Monitor daily new business quote statuses and maintain related reports.
Conduct document reviews to evaluate risk based on financial and property data.
Perform other duties as required by leadership.
Requirements
Educational Background and Certifications:
Bachelor’s / master’s degree in Business administration, Economics, Commerce, Insurance
- IFCE Certified
CII Certified
Experience:
7–12 years of relevant experience in insurance, with demonstrated leadership in underwriting or risk management.