Head - Underwriting & New Business (Life Insurance)

Job Description – Head – Underwriting and New Business

Job Summary-:

To lead and manage the end-to-end underwriting and new business operations function, ensuring profitable risk selection, optimal turnaround time (TAT), regulatory compliance, superior customer experience, and alignment with the company’s growth and risk objectives.

Key Responsibilities:

1. Underwriting Strategy & Governance Define and implement underwriting policies and risk appetite in line with business strategy. Ensure sound risk assessment practices across retail, group, and high-value segments. Develop underwriting manuals, guidelines, and authority matrices. Ensure SLA/TAT adherence while maintaining underwriting quality. Monitor portfolio quality, pending cases, early claims, and non-disclosures. Lead underwriting audits and ensure regulatory compliance (IRDAI guidelines, AML/KYC norms). 2. New Business Operations Management Oversee end-to-end new business processing (proposal intake to policy issuance printing and dispatch). Ensure Regulatory and statutory adherence Drive straight-through processing (STP) initiatives and automation. Collaborate with distribution teams to improve issuance ratios.

3. Risk Assessment & Portfolio Management Evaluate complex/high-sum-assured cases. Monitor mortality and morbidity experience. Analyze underwriting performance metrics and take corrective actions. Work closely with actuarial and reinsurance teams for risk sharing and treaty management.

4. Stakeholder & Cross-Functional Collaboration Partner with Sales, Actuarial, Claims, Compliance, IT, and Product teams. Support product launches with underwriting inputs. Manage reinsurer relationships and negotiations. Provide risk insights to senior leadership and board committees.

5. Technology & Process Excellence Lead digital New Business and Underwriting initiatives (predictive analytics, AI-based underwriting). Drive process re-engineering and cost optimization. Implement data-driven decision frameworks. Enhance customer experience through simplified underwriting journeys.

6. Team Leadership & Capability Building Lead and mentor underwriting and new business teams. Define KPIs and performance standards. Develop succession planning and training programs. Foster a culture of accountability and risk awareness.

Qualifications & Experience Graduate/Postgraduate (MBA/Insurance/Finance preferred) Professional insurance qualifications (FLMI, ALU, FIII – preferred) 12–18+ years of experience in life insurance underwriting/new business operations Minimum 5–7 years in leadership role

Key Skills & Competencies Strong underwriting expertise (medical & financial underwriting) Deep understanding of End to end New Business processing and relevant IRDAI regulations Risk analytics & portfolio management Strategic thinking and decision-making Process excellence & digital transformation Leadership & stakeholder management High integrity and risk governance mindset