Energy Underwriting Support

elseco; Dubai; On-site; AED 140,000 - 210,000; Full time

Job summary

elseco, a Dubai-based Lloyd’s Coverholder, seeks an Energy Underwriting Support to coordinate underwriting administration, data management and reporting. You will work with Dubai-based underwriters and Client Advocates to ensure timely processing of policies, endorsements, and premium calculations in the Policy Operating System.

Ideal candidates have 3+ years in insurance accounts or underwriting support, strong numeracy and English communication, and comfort operating in a dynamic multicultural

Qualifications

• Degree or diploma in finance, mathematics or accounting, or professional insurance qualification (eg. CII).
• Highly numerate with solid math and accounting fundamentals.
• Excellent English communication, both written and spoken.

Responsibilities

• Process underwriting accounting tasks including premium reconciliation and aging.
• Assist underwriters with contract documentation accuracy and timeliness.
• Verify subjectivities and perform database checks to support underwriters.

Skills

Numeracy

Communication skills

Teamwork

Problem solving

Self-motivation

Attention to detail

English proficiency

Multicultural adaptability

Education

Bachelor’s degree or diploma in finance/math/accounting

CII qualification (preferred)

Tools

Microsoft Access

SQL

VBA

Microsoft Office

Job description

Job Description:

INTRODUCTION

elseco is a high technology specialty insurance underwriting agency and

Lloyd’s Coverholder.

elseco underwrites on behalf of circa. 60 insurance and reinsurance

companies including Lloyd’s syndicates. elseco is headquartered in the Dubai

International Financial Centre (DIFC) (Dubai, UAE) and is regulated by the

Dubai Financial Services Authority (DFSA). The company employs some 70

professionals with regulated offices in Dubai, London, Zurich, Paris and

Washington DC.

The company started 14 years ago with space insurance and has since

diversified into aviation and energy insurance as well.

elseco’s latest evolution is the development of its technology “Platform”,

namely “ATOM”. It sits at the very core of the company and is seen as business

critical to the company’s future success and growth plans.

JOB PURPOSE / MANDATE:

Reporting to the Head of Energy, the Energy Underwriting Support will handle a

wide range of underwriting administrative and procedural tasks, coordinate

within the company, work alongside Client Advocates and Dubai-based

Underwriters, and ensure all deadlines are met.

SPECIFIC DUTIES AND RESPONSIBILITIES:

• Process accounting aspects associated with underwriting, such as premium reconciliation and tracking, premium aging, and updating systems.
• Assist underwriters in processing all contract documentation accurately and on time.
• Verify pool members’ subjectivities and conduct database checks to support underwriters.
• Ensure the accuracy, completeness, and currency of data in elseco’s underwriting systems, both existing and new.
• Coordinate and oversee the training of Underwriting Support team members.

elseco

• Upon receiving policy documentation, book the policy in the Policy Operating System.
• Perform compliance checks relevant to each specific policy.
• Ensure all policies are booked with utmost attention to detail in the Policy Operating System or any designated system.
• Confirm that slips are signed as instructed by the underwriter, sent to the producer/broker, and appropriately filed, including slips, wordings, closings, email communications, and technical notes.
• Scan and send documents to brokers, producers, or cedents.
• Support Client Advocates and underwriters in managing and reporting country and regional aggregates, including data entry into elseco’s aggregation control systems and coordinating external partners while qualitycontrolling their services.
• Upon receiving signed line confirmations from brokers, liaise with their accounting teams regarding the final premium calculations.
• On receipt of closings, confirm that the booked premium matches the premium indicated in the closings and that the confirmed line aligns with the line detailed in the closings.
• Ensure all policies are booked within 24 hours of confirming the signed line.
• Process and send endorsements within 24 hours and update them in the Policy Operating System.
• Maintain both hard and soft copies of all endorsements.
• Print and present new/renewal slips, endorsements, and relevant emails to Client Advocates and/or Dubai-based underwriters.
• Resolve reconciliations with brokers and ensure no outstanding balances persist beyond one month.
• Generate reports from the Policy Operating System or any new system as required.
• Collaborate with the Finance team to address aged debt and uncorrelated cash discrepancies.
• Undertake any additional tasks assigned by Client Advocates and/or Dubaibased underwriters.
• Prepare reports and management information (MI) for Head Line of Business weekly team meetings and monthly updates.
• Maintain a log of exceptions or errors related to data entry, documentation completeness, and compliance.

Minimum of 3 years’ relevant experience in insurance accounts, underwriting and claims support administration

Requirements:

• Qualification: Degree or diploma in a financial, mathematics or accounting related subject or professional qualification in insurance, eg. CII
• Computer literacy: Microsoft office
• Highly numerate
• Access, SQL and VBA knowledge is a plus
• General attitude: problem solver, self-driven and motivated to get a job done well. The role requires to be confident and to have the ability to operate in a dynamic and multicultural environment
• Communication: perfect English is a must. Articulate. Ability to communicate to all levels well
• Attention to detail, good judgement, and a hands-on approach are required
• Manage and provide guidance to Energy Underwriting Support Team colleagues, ensuring the team operate as a cohesive team and meeting internal deadlines set by senior colleagues.
• Team player and willingness to get on and succeed.