Job Overview

Location
London, England
Job Type
Full Time
Salary
£65,000 - £75,000 Per Year
Date Posted
23 days ago

Additional Details

Job ID
81499
Job Views
8

Job Description

About Us

Avencia Consulting are currently recruiting on behalf of a Global Insurance & Reinsurance business based in The City, who are looking for an Underwriter to join on a permanent basis.

The Role

To underwrite business in accordance with the business plan and within delegated underwriting authority with the purpose of underwriting a profitable account on behalf of the business demonstrated in the delivery and performance

Responsibilities

Strategy & Planning

  • Awareness of and contribution to the delivery of the divisional business plan, making decisions as appropriate
  • Contribute and participate in all relevant meetings, in order to share and develop strategy, knowledge and best practice
  • Positively promote the department, division and company as a whole, in order to maximize brand leverage
  • Apply the reinsurance strategy in order to safeguard the portfolio

Policy, Process & Procedures

  • Perform underwriting activities in accordance with all legal and regulatory requirements to ensure obligations are met
  • Adheres to underwriting standards, instructions and good practice to minimise risk and maximise efficiency
  • Ensure the recording and measurement of insurance risks, including delegated underwriting authorities (DUA's) where relevant, to ensure accuracy and good practice, assisting with the development or modify policy wordings as appropriate
  • Understand and comply with any reinsurance requirement to minimize risk and to deliver business plan objectives

Environmental Awareness

  • Use technical knowledge and judgement to refer and support Senior/Underwriters with identifying issues and opportunities
  • Establish, develop and strengthen relationships with stakeholders including customers, brokers, business partners and colleagues to maximise influence and achieve business objectives
  • Demonstrate support for market associations and trade bodies
  • Demonstrate understanding and awareness of market dynamics and market cycle to drive and enhance business performance

Technical Performance

  • Continually develop expertise and technical knowledge through identifying and implementing appropriate learning and development activities
  • Underwriting insurance risks in accordance with the business plan and the delegated underwriting authority to meet business objectives. This includes negotiating rates, terms and conditions for existing and new business (developing or modifying policy wordings as appropriate), ensuring compliance with internal and external regulations and guidelines, ensuring contribution to the business plan and objectives, and support credit control, where required, in payment collection
  • Participate in the review and analysis of the portfolio to identify progress towards business objectives
  • Ensure all business is thoroughly evaluated by peer review and that risks written adhere to the Company's underwriting standards and individual authority

Skills/Experience

  • Significant knowledge of relevant market conditions for specific class
  • Good understanding of class specific underwriting
  • Strong knowledge of underwriting process and procedures
  • Good working knowledge of relevant underwriting systems
  • Strong knowledge of legal and regulatory requirements (specific reference to PRA, FCA and Lloyds regulations
  • Specific professional qualification (CII) (preferable)
  • Substantial experience gained within the insurance industry and within a specialised/complex underwriting area
  • Strong/established customer/broker relationships
  • Experienced in using risk profiling and pricing tools and loss models

Location

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