Siddhartha Insurance

Assistant Underwriting

Siddhartha Insurance

Assistant Underwriting

Siddhartha Insurance Limited (SIL) is one of the renowned non-life (general) insurance companies in Nepal with strong presence in the form of 78 Branches & Corporate at Siddhartha Insurance Bhawan, Babarmahal,Kathmandu.

Established in the year 2006, SIL is a financially sound and professionally managed organization. SIL has been promoted by leading Business houses, Industrial conglomerate & Institutions. The company practices true customer-focused service by underwriting all types of risks in General and Health Insurance, often based on specific customer needs. SIL provides a complete range of insurance solutions from Property, Marine, Motor, Engineering, Miscellaneous, Aviation, Micro, Mediheath, Travellers Mediclaim Policy, Miscellaneous Accident Risk, to cover for medium to large industries, commercial enterprises as well as Individuals. To achieve this end, it has employed qualified and experienced professionals.

SIL is a customer-centric company, with a single-minded focus on service. It’s priority is to build long term client relationships, with complete customer satisfaction as the most important non-negotiable objectives.

Siddhartha Insurance Limited (SIL) is one of the renowned non-life (general) insurance companies in Nepal with strong presence in the form of 78 Branches & Corporate at Siddhartha Insurance Bhawan, Babarmahal,Kathmandu.

Established in the year 2006, SIL is a financially sound and professionally managed organization. SIL has been promoted by leading Business houses, Industrial conglomerate & Institutions. The company practices true customer-focused service by …

Assistant Underwriting

Views: 3678 | This job is expired 4 years, 11 months ago

Basic Job Information

Job Category : Banking / Insurance /Financial Services
Job Level : Mid Level
No. of Vacancy/s : [ 2 ]
Employment Type : Full Time
Job Location : Newroad, Itahari
Offered Salary : Negotiable
Apply Before(Deadline) : May. 30, 2019 23:55 (4 years, 11 months ago)

Job Specification

Education Level : Under Graduate (Bachelor)
Experience Required : More than or equal to 2 years
Other Specification
  • Minimum Bachelors degree 
  • Must have previous working experience in Banks or Insurance Company
  • At least 2-4 years of work experience in financial and operational sphere preferably in Insurance industry
  • Must be fluent in written and speaking English
  • Freshers are encourage to apply

Job Description

  • You are required to scrutinize the insurance proposal forms received with regard to the nature of insurance sought, the completeness of the proposal form ensuring that all the particulars therein are filled up in clear and unambiguous manner
  • Place the proposal form to the Underwriting Head for acceptance or otherwise
  • On acceptance of the proposal form from the concerned authority marked as “Accepted”, you shall then obtain the KYC document (fully filled up) along with other documents as annexed under Anti-Money Laundering policy, 2074 of the company and also other documents such as Bill Book, Purchase Invoice, Citizenship copy, valid copy of License, renewal notice from previous insurer when no claim discount is being offered etc in case of Motor Insurance. In case of fire insurance, copy of stock register, Building Ownership (Lalpurja), construction completion certificate, Industry Registration Certificate, PAN/VAT Certificate, BOQ, Construction Layout as per policies requirement. Similarly it shall be your duty to obtain sufficient and appropriate documents prior to issuing of an Insurance policy and policy prepared confirms with the requirement as stated in the proposal form
  • In case of non-tariff policies, prior approval must be obtained from the competent authority for prior rating and risk assessment
  • Abide with the requirements of Underwriting manuals, Beema Samiti Directives, Anti-money laundering Directives and internal circulars issued from time to time
  • Check emails on regular basis
  • In case the sum insured of the proposed assets exceeds Rs. 10 Millions you shall compulsorily append Risk Inspection certificate and in other cases you shall maintain the same in need basis ensuring prudent underwriting practices
  • Prepare Insurance Debit Note, a specimen copy of the insurance policy fully observing the insurance tariff wherein your are required to charge the appropriate rates, draft appropriate wordings, exclusions and conditions and warranties if any. The specimen copy once gets finally approved from the competent authority, Insurance policy has to be prepared and issued and handed over to the client/Marketing officers/Insurance agents as the case may be subject to the collection of Insurance premium.
  • Maintain proper filing of a complete set of a copy of insurance policy ensuring their easy retrieval when needed
  • In respect of declaration policies in fire insurance and open policies in marine insurance, separate files are to be maintained for such polices ensuring that the declared values are timely obtained and filed therein and premium is adjusted at the expiration of the policies
  • Generate renewal notice and hand over to the Marketing Officers or informed to the clients or agents/ beneficiary banks in daily basis without any fault if any through emails, telephone and other possible means and confirmation thereof should be given to your supervisor regarding its receipts or otherwise
  • In so far as issuing of endorsements policies are concerned, you are required to document proper reason thereof such as valid application for endorsement from the insurer duly approved from the competent authority. You are required to file the endorsements separately as well as attach with the concerned policy as well
  • Ensure that in a daily basis you shall develop yourself to ensure you are in position to issue minimum of 40 policies in your own including fresh, renewal, endorsement, cancellation with prior approval from competent authority subject to availability of the policies

This job has expired.

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