Head of Underwriting at Bowtie Life Insurance Company
Role Summary: Bowtie’s mission is to make insurance good again and our vision is to build a category-defining health insurance company. As a young and fast-growing company, grooming and learning from the next generation is a priority. We are looking for great talents who share our values to drive business growth by building and leading a world-class underwriting team.
About The Role
You will be working in a fast-paced organization that promotes cross-functional collaboration to transform the underwriting function from a traditional processing center into a strategic driver of profitable growth. Your responsibility involves innovating the underwriting philosophy and products, optimizing processes through technology and data, and developing a world-class team that balances risk management with a market-leading customer experience.
Your Key Responsibilities and Outcomes
Evolve Underwriting Philosophy & Strategy: Within the first 90 days, present a comprehensive \'Underwriting Strategy & Market Position\' analysis to leadership. This includes benchmarking the underwriting philosophy against the top 3 competitors and proposing a clear roadmap for adjustments, outlining the trade-offs between growth, profitability, and customer experience.
Drive Profitable Growth Through Product Development Innovation: Within the first 12 months, partner with Product Development to launch at least one new product or significantly revamp an existing one by introducing innovative underwriting criteria that demonstrably improve market competitiveness and profitability.
Optimize Underwriting Operations: Reduce the average new business underwriting Turnaround Time (TAT) from 5 days to 2 days within 6 months, while maintaining the current 100% case accuracy rate.
Advance Underwriting Engine & Automation: Increase the automated underwriting auto-adjudication rate from 73% to 85% within 12 months by leading the enhancement of the underwriting rules engine, without negatively impacting the portfolio\'s risk profile.
Build a High-Performing Team: Implement a new training and development framework for the underwriting team within 6 months. This framework should increase underwriting authority limits and improve employee engagement/retention by year-end.
Treating Customers Fairly Governance & Compliance: Achieve a 100% \
