Description:
Risk Exchange (DIFC) Limited is a Dubai Financial Services Authority (DFSA)-regulated international reinsurance brokerage headquartered in the Dubai International Financial Centre (DIFC).
As part of our strategic expansion into medical insurance, health reinsurance and innovative risk solutions, we are strengthening our specialist medical underwriting capabilities.
We are seeking an experienced and commercially driven Medical Underwriter with a strong understanding of health insurance, reinsurance, medical risk assessment, actuarial pricing and portfolio management.
The successful candidate will work closely with our senior leadership team to develop and support innovative medical insurance products, reinsurance arrangements and underwriting solutions across the UAE and wider GCC markets.
Key Responsibilities
1. Medical Underwriting & Risk Assessment
- Evaluate and underwrite individual, SME and corporate group medical insurance risks.
- Analyse claims experience, loss ratios, medical inflation, utilisation patterns and demographic risk profiles.
- Review medical underwriting submissions, claims histories and risk exposures.
- Develop risk-based underwriting recommendations, pricing assumptions and renewal strategies.
- Establish appropriate underwriting guidelines, acceptance criteria, exclusions and risk controls.
2. Reinsurance & Risk Structuring
- Support the structuring and placement of medical reinsurance programmes, including quota-share, excess-of-loss, stop-loss and other appropriate arrangements.
- Evaluate underwriting profitability, risk retention, treaty terms and portfolio exposures.
- Coordinate with reinsurers, cedants, actuarial consultants and insurance partners.
- Assist in developing underwriting frameworks for delegated authority and Managing General Agent (MGA) operations, subject to applicable regulatory approvals.
- Support reinsurance capacity discussions and preparation of technical underwriting submissions.
3. Product Development & Pricing
- Participate in designing competitive and sustainable medical insurance products for SMEs, corporates and other market segments.
- Collaborate with actuaries on technical pricing, claims projections, medical cost trends and underwriting profitability.
- Assess provider network structures, benefit schedules, deductibles, co-payments and policy limits.
- Work closely with Third-Party Administrators (TPAs), insurers and reinsurers to optimise product design and claims performance.
4. Portfolio Management & Technical Analysis
- Monitor portfolio performance, claims ratios, underwriting margins and emerging medical risks.
- Prepare technical underwriting reports, management dashboards and portfolio performance reviews.
- Recommend corrective underwriting and pricing actions based on portfolio experience.
- Support the development of underwriting manuals, rating methodologies, operational procedures and governance controls.
5. Stakeholder Coordination & Compliance
- Work closely with insurers, reinsurers, brokers, TPAs, healthcare providers and actuarial consultants.
- Support underwriting governance, regulatory documentation and risk management processes.
- Ensure adherence to approved underwriting authorities, internal policies and applicable UAE regulatory requirements.
Qualifications & Experience
Essential Requirements
- Bachelor's degree in Insurance, Actuarial Science, Finance, Healthcare Management, Medicine or a related discipline.
- Minimum 5–8 years of relevant experience in medical or health insurance underwriting, preferably including reinsurance exposure.
- Strong knowledge of UAE/GCC health insurance markets, group medical products, underwriting methodologies and claims analysis.
- Demonstrated experience in technical pricing, claims experience analysis, loss-ratio management and portfolio profitability.
- Understanding of medical reinsurance structures, treaty arrangements and underwriting risk transfer.
- Advanced proficiency in Microsoft Excel, data analysis and underwriting reporting.
- Excellent analytical, commercial, communication and stakeholder-management skills.