Domain Trainee : Underwriting Ops/Delegated Authority Business - #967293

Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose - the relentless pursuit of a world that works better for people - we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.
We are inviting applications for the role of Domain Trainee - Underwriting Ops/Delegated Authority Business
. Setting up Binding Authority contract with Contractual rules and aggregate limits on DUA tool
. Completing a Bordereau Questionnaire by mapping the bordereaux with relevant reporting standard using the DUA schema questionnaire
. Review of errors/ breaches and perform data enrichments within the DUA system
. Setting up Submissions, Processing of bookings, Endorsements, Renewals
. Reconciliation of the Premium and Claim amounts with the signing present on Syndicate and Commercial applications
. Logging of data quality issues into the query log.
. Working with the onshore team regarding a quality control review of issues as part of an onshore escalation process to underwriters
. Bordereaux standardization and Financial Reconciliation for monthly BDX spreadsheets
. Exposure to London Market (Syndicate & Company) is a must
. Knowledge of P&C, Specialty, Reinsurance, Claims and Underwriting services
. Working as per the TAT and SLA agreed for the business
. Maintaining customer&rsquos services and Quality standards by adhering to client procedures and process requirements
. Manage team of 10-15 staff as per given service level targets
. Monitoring submissions of the monthly Bordereaux and chasing up any that are late
. Leading weekly/monthly/quarterly discussions on operations with client UW and company stakeholders.
. Understanding of risks faced by the function and the controls in place to manage and mitigate the risks
. Ensuring clarity around priorities and goals for the entire functional area
. Ability to function effectively in a team environment exercising good judgment
. Working with senior management and other peers for strategy development and execution planning
. Root Cause Analysis on escalations received

Qualifications we seek in you

Minimum qualifications:

. Graduate (in any discipline)
. Relevant work experience for London Market Insurance
. Should have wing to wing knowledge of the Underwriting lifecycle
. Must demonstrate and foster customer focus, teamwork, accountability, initiative and innovation.
. Fluent in English language- both written and oral
. Preferred Qualifications
. Any Graduate (Preferred - BSc/B Com)
. Knowledge of Binding Authority/ Delegated Authority Business for Coverholder
. Good Knowledge of MS Office, MRC, MRCE and Bordereaux.
. Provide technical support and bordereau processing assistance to other members of the team
. Be experienced in a technical insurance role, such as account handling, wordings or underwriting, is essential
. Be experienced in producing Binding Authority MRC Slips & Endorsements from scratch
. Excellent knowledge of binders process
. Very good problem solving skills & attention to detail.
. Ability to accurately interpret and compile information from a variety of sources and systems

Preferred qualifications:

. Insurance domain awareness
. Good knowledge of MS Office
. Preferred with certification on one of the streams i.e. CII London i.e. ALMI, FIT or Cert CII or equivalent or AINS, CPCU certification
. Knowledge of Bureau/Non Bureau market
. Knowledge of Binder, Lineslip and Consortium Processing
. Exposure to Reinsurance Market and it%27s types such as Prop and Non prop
. Exposure to Treaty and Fac Reinsurance

Genpact is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, religion or belief, sex, age, national origin, citizenship status, marital status, military/veteran status, genetic information, sexual orientation, gender identity, physical or mental disability or any other characteristic protected by applicable laws. Genpact is committed to creating a dynamic work environment that values diversity and inclusion, respect and integrity, customer focus, and innovation. Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook.
Furthermore, please do note that Genpact does not charge fees to process job applications and applicants are not required to pay to participate in our hiring process in any other way. Examples of such scams include purchasing a %27starter kit,%27 paying to apply, or purchasing equipment or training.