Requirements
Requires a Bachelor's degree in Commerce, Science, Arts, or Business Administration, with a desirable Associate of Chartered Insurance Institute, London. Must have 8-12 years of experience in a progressive organization, including at least 5 years in a senior managerial position. Proficiency in general insurance, with emphasis on property, underwriting, claims, and reinsurance is essential, along with strong interpersonal, analytical, communication, and presentation skills.
Description
Job description / Role
Job Type
Full Time
Job Location
UAE
Nationality
Any Nationality
Salary
Not Specified
Gender
Not Specified
Arabic Fluency
Not Specified
Job Function
Finance, Business Analysis & Consulting
Company Industry
Retail
About the company
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions: automotive, financial services, real estate, retail, and healthcare, employing more than 35,000 employees across more than 20 countries in the Middle East, Asia, and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand, responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration, and integrity, Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.
Job purpose
To generate and secure new property insurance business and retain renewal business to achieve and exceed the company’s business and operational objectives in a profitable manner consistent with high standard of professionalism and client satisfaction.
Key accountabilities
Description of the accountability
Performance indicators (how accountability is measured)
Risk managementArrangement of favourable reinsurance
Customer centricCustomer satisfaction
Operational managementTeam / department development
Reporting to Senior Vice President – Property, the primary role of VP – Property Insurance is to manage client relationships with potential distribution channels including brokers, intermediaries, and company’s own development team to promote Orient Energy insurance products and develop the current portfolio profitability.
Being a member of the senior management, VP – Property Insurance performs a very critical function of risk management and business development to contribute towards enhancing the company’s profitability.
Business development / profitabilityPlan, analyse and develop sales strategies and actions in order to secure new/renewal of business and enhance market share.
Business targetsProduce the required target of insurance business from the designated areas to achieve or exceed the assigned premium target.
Premium collection (outstanding)Review and monitor the due premiums payment status to actively follow up timely collection of the outstanding premiums.
Management reports / competitionCollect and collate business and market conditions related information and prepare reports and formulate appropriate recommendations for management information and decision making to counter competition and increase the company’s market share of the business.
Broker & client servicePromote the growth of the insurance business by establishing and maintaining close liaison with brokers and clients to ensure customer satisfaction and profitability.
UnderwritingEnsure proper underwriting of insurance risks in keeping with the guidelines by supplying experience statistics and market intelligence. Compute appropriate premium accurately and allocate reinsurance cessions with the specified criteria to facilitate proper data entry process and generation of appropriate policy documents.
Risk inspectionEnsure proper conducting risk inspection to assess and report acceptability of risks and recommend appropriate risk improvement measures in order to ensure sound insurability of risks.
Policy documentsReview and ensure accuracy of the contents of the policy documents and arrange prompt dispatch in order to provide an efficient service to customers, brokers, development officers and participating re-insurers.
CoordinationCoordinate with customers, brokers, development officers, and other insurance companies to obtain required additional underwriting particulars in order to carry out proper risk assessment and provide appropriate solutions to their problems.
Qualifications, experience, and skills
Minimum qualifications and knowledge:
Bachelor degree (Commerce, Science, Arts, Business Administration)
Associate of Chartered Insurance Institute, London or equivalent (desirable)
Minimum experience:
8-12 years’ experience in a progressive organisation (including a minimum of 5 years of experience in a senior managerial position).
Job-specific skills:
General insurance with particular emphasis on property, underwriting, claims, and re-insurance.
Behavioural competencies:
Strong interpersonal and analytical skills.
Dynamic personality with good communication skills.
Excellent presentation skills.
About Orient Insurance PJSC
Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 million which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman, Riyadh in Kingdom of Saudi Arabia, and Bahrain.
About the Company
Established in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt.
The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Groups continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery.
The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Groups belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility.
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