Job Title
Senior Manager Underwriting - Crop Insurance
Location:
Pan-India (Head Office with regional travel as needed)
Role Purpose
To lead and manage underwriting for crop insurance products, ensuring accurate risk assessment, compliance with government schemes, and portfolio profitability while leveraging technology and data analytics.
Key Responsibilities
- Underwriting & Risk Assessment
- Evaluate crop insurance proposals based on agro-climatic conditions, historical yield data, and weather patterns.
- Apply actuarial principles and risk models to determine premium rates and coverage terms.
- Policy & Compliance
- Ensure adherence to IRDAI regulations and guidelines under schemes like PMFBY (Pradhan Mantri Fasal Bima Yojana).
- Maintain compliance with government notifications and reinsurance treaties.
- Portfolio Management
- Monitor crop insurance portfolio performance, claim ratios, and regional risk trends.
- Recommend corrective actions for high-risk geographies or crops.
- Data Analytics & Technology
- Utilize satellite imagery, weather data, and predictive analytics for risk evaluation.
- Support automation initiatives for faster underwriting decisions.
- Stakeholder Engagement
- Collaborate with government agencies, banks, and distribution partners for scheme implementation.
- Coordinate with re-insurers for treaty negotiations and risk-sharing arrangements.
- Team Development
- Mentor junior underwriters and provide technical training on crop risk assessment and regulatory compliance.
- Product Development Support
- Collaborate with product teams to design health insurance products with appropriate underwriting parameters.
- Provide technical inputs for new product filings and regulatory approvals.
- Will be responsible for both bottom line and top line of the vertical in proportion as will be decided by the management.
Requirements
Key Skills & Competencies:
- Deep understanding of crop insurance underwriting principles and government schemes (PMFBY, RWBCIS).
- Strong analytical and actuarial skills.
- Familiarity with agri-tech tools, GIS, and weather-based risk models.
- Excellent stakeholder management and negotiation skills.
Qualifications & Experience
- Graduate/Postgraduate in Agriculture, Agri-Economics, Insurance, or Actuarial Science.
- 8–12 years of experience in crop insurance underwriting, with exposure to large-scale portfolios and government schemes.
- Knowledge of reinsurance and regulatory compliance.
