Live Underwriting

ConfidentialBengaluru / Bangalore

30+ days ago

Job description

Roles and Responsibilities :

Live Application Assessment : Review and assess live insurance, mortgage, or loan applications in real-time to ensure compliance with underwriting guidelines and risk management policies.
Risk Evaluation : Evaluate applicants' financial history, health status, property conditions (for insurance), and other relevant factors to determine risk levels and underwriting decisions.
Decision-Making : Make immediate underwriting decisions during live transactions, ensuring that applications meet company standards for approval, denial, or further review.
Real-Time Communication : Collaborate with agents, brokers, or other stakeholders during live underwriting processes to resolve queries or clarify discrepancies in real-time.
Data Verification : Verify the accuracy and completeness of the information provided by applicants, including income, employment history, health records (for insurance), and credit reports.
Escalation Management : Identify complex or high-risk cases that require escalation to senior underwriters or managers for additional review and approval.
Client Interaction : Provide real-time support and clarification to clients or brokers, answering any questions regarding the underwriting process, required documentation, or decision status.
Document Review : Review live documents submitted for underwriting purposes, such as medical reports, property valuations, credit reports, and other supporting paperwork.
Compliance : Ensure that all underwriting decisions comply with legal regulations, internal policies, and industry standards, maintaining high levels of compliance.
Process Improvement : Identify and recommend improvements to live underwriting processes to reduce turnaround times and enhance customer satisfaction.
Real-Time Reporting : Maintain accurate records of live underwriting decisions, exceptions, and any issues for future reference, auditing, and reporting.
Training and Mentoring : Assist in training new underwriters or junior staff, sharing knowledge and best practices for handling live underwriting transactions.
Technology Utilization : Use underwriting software and systems effectively to streamline the live underwriting process, ensuring accuracy and efficiency in decision-making.

Skills and Qualifications :

Strong Analytical Skills : Ability to evaluate and assess various financial, health, and property-related data to determine risks and make informed decisions.

Attention to Detail : High attention to detail in reviewing live applications and documentation, ensuring compliance with all underwriting guidelines and risk management policies.

Communication Skills : Strong verbal and written communication skills to interact with brokers, agents, and clients effectively, especially in high-pressure or live situations.

Decision-Making Ability : Quick and effective decision-making skills, particularly under pressure, while maintaining high-quality standards.

Time Management : Ability to manage multiple live applications simultaneously while ensuring that all decisions are made promptly.

Problem-Solving Skills : Ability to identify issues or discrepancies in live applications and work quickly to resolve them or escalate when necessary.

Regulatory Knowledge : Understanding of industry regulations, underwriting guidelines, and compliance requirements (e.g., KYC, AML) is crucial.

Adaptability : Ability to adapt to changes in the underwriting process, software, or regulations, especially in live environments.

Customer-Centric : Understanding the importance of delivering a positive customer experience while maintaining the integrity of underwriting decisions.

Technology Proficiency : Experience with underwriting software, CRM systems, and basic office software (e.g., Microsoft Office Suite, Excel).

Skills Required

Data Verification, Risk Assessment, Quality Control

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Underwriting • Bengaluru / Bangalore