Avencia Consulting are currently recruiting on behalf of a Global Insurance & Reinsurance firm based in The City, who are looking for an Assistant Underwriter to join their P&C team.
To appropriately underwrite risks and support the respective underwriting team in accordance with the business plan and within delegated underwriting authority with the businesses Values demonstrated in the delivery and performance.
Strategy & Planning
- Awareness of and contribution to the delivery of the divisional business plan, referring to more Senior/Underwriters as appropriate
- Apply the reinsurance strategy in order to safeguard the portfolio, referring to more Senior/Underwriters as appropriate
Policy, Process & procedures
- Perform underwriting activities, where authority is given, in accordance with all legal and regulatory requirements to ensure obligations are met
- Ensures the recording and measurement of insurance risks, including delegated underwriting authorities (DUA's) where relevant, to ensure accuracy and good practice, developing an understanding of modifying or developing policy wordings
- Establish technical knowledge and judgment to support Senior/Underwriters with identifying issues and opportunities
- Establishes, develops, and strengthens relationships with stakeholders including customers, brokers, business partners, and colleagues to maximise influence and achieve business objectives
- Develops expertise and technical knowledge through collaboration with Head of/Senior/Underwriters identifying and implementing appropriate learning and development activities
- Underwrites insurance risks, where authority is given, in accordance with the business plan and the delegated underwriting authority to meet business objectives.
Skills & experience
- Knowledge of relevant market conditions for specific class/portfolio
- Understanding of class-specific underwriting
- Knowledge of underwriting process and procedures including EPA's
- Good working knowledge of relevant underwriting systems
- Knowledge of legal and regulatory requirements (specific reference to PRA, FCA, and Lloyds regulations)
- Insurance professional qualifications at a level of degree or equivalent (preferable) e.g. ACII
- Experience of working in an underwriting environment within a specialised/complex underwriting area
- Strong/established customer/broker relationships
- Experience in resolving complex underwriting queries