Underwriter – Insurance

Purpose of role:

The Underwriting team oversees and executes the commercial and group underwriting activities of the business, encompassing pricing, forecasting, risk analysis, policy allocation, and management of “out-of-binder” proposals. Their primary objective is to ensure that the technical performance of the company’s insurance-backed products consistently meets designated target thresholds.

Our client is seeking an Underwriter who can enhance the technical capabilities of the Underwriting team and leverage their expertise in the insurance sector to support the realization of their ambitious growth strategy. This role demands a solid understanding of insurance principles and risk management, proficiency in distilling precise proposals from abstract concepts, adept stakeholder management and communication skills, and a meticulous attention to detail to ensure thorough evaluation of commercial opportunities in alignment with their underwriting policies and guidelines.

Key responsibilities:

1. Serve as the primary point of contact for underwriting inquiries, promptly acknowledging receipt, managing their allocation within the team, and providing accurate time estimates for their resolution.
2. Assess and underwrite risks within one’s own level of underwriting authority, escalating to the Underwriting Manager or Partnerships team for external approval as needed.
3. Assist the Underwriting Manager in executing Mid-Term Adjustments (MTAs), such as ad hoc pricing changes, inflation adjustments, additional equipment classes, or policy endorsements. Ensure swift and accurate issuance and archiving of relevant documentation.
4. Offer technical support to the Commercial function, aiding in the achievement of the businesses financial objectives in a clear, timely, and well-organized manner.
5. Actively engage in the enhancement of automated underwriting systems by sharing innovative ideas and offering constructive feedback. Maintain a continuous improvement mind-set to ensure effective communication of development needs to the Finance and Business Intelligence teams.
6. Assist the Underwriting Manager in conducting mandatory and tailored product training sessions for the organization, bridging any knowledge gaps and becoming a reliable source of expertise on the businesses insurance products.
7. Manage the daily administrative tasks associated with their Residual Value Insurance product.
8. Collaborate closely with all teams to contribute to the achievement of corporate goals.
9. Play a key role in promoting operational excellence by documenting processes, optimizing workflows, and implementing automation strategies within Partnerships and across the broader organization.

Experience:

1. Previous experience in underwriting, preferably within the MGA sector in the UK or EU general insurance domains.
2. Exceptional verbal and written communication abilities, coupled with adept prioritization skills.
3. Possess a technical mind-set with a penchant for analytical problem-solving.
4. Proficient in data analysis, interpretation, and presentation.
5. Capable of articulating data-driven proposals clearly and convincingly to stakeholders.
6. Demonstrated awareness and comprehension of the UK and European general insurance landscapes, including regulations and evolving trends.
7. Proficiency in Microsoft Office, particularly Excel.
8. Skilled in establishing rapport with stakeholders both internally and externally, across all organizational levels.
9. Strong numerical aptitude and meticulous attention to detail are indispensable.
10. Holding formal insurance qualifications (e.g., CertCI) would be advantageous.