Assistant Underwriter

Howden; Bury St Edmunds; Hybrid; GBP 25,000 - 38,000; Full time

Job summary

Magenta Insurance is seeking an Assistant Underwriter to join our EDI New Business team. The role involves handling a high volume of broker referrals, underwriting household business, and providing referral codes to quotes proceed.

Reporting to the EDI New Business Team Leader, you will develop underwriting knowledge, maintain accurate data, and support the team with administrative tasks as you progress towards more complex cases and greater authority.

Qualifications

• A minimum of 3 years insurance experience.
• A minimum of 2 years experience in Household Insurance or personal lines underwriting.
• Experience working within an underwriting environment would be beneficial.
• Good understanding of Property Insurance.
• Minimum 1 year experience of telephone-based work in a technical, high-volume environment, preferably within household insurance.

Responsibilities

• Evaluate and underwrite low complexity risks referred by Brokers quoting via EDI platforms, predominantly by telephone, within designated authority and following established procedures, and provide referral codes to Brokers.
• Ensure accurate underwriting data is captured on systems to minimize risk and ensure high-quality output of information.
• Support underwriting through general administration to ensure delivery of a professional service.
• Develop your technical and underwriting knowledge to take on more complex cases over time.

Job description

About DUAL

Working across 21 countries, DUAL has built a reputation as a specialist underwriting group and the market of choice for insurance intermediaries around the world. That’s how we have become one of the world’s largest international underwriting agencies (or MGAs) with US$3.4bn GWP.

DUAL is part of Howden, a leading global insurance group with employee ownership at its heart. Founded in 1994, it provides insurance, reinsurance and underwriting services to clients ranging from private individuals to the largest multinational companies. The Group operates in 57 countries, employs over 24,000 people and manages premiums totalling US$50bn on behalf of its clients.

Who Are We Seeking?

Magenta Insurance is on the lookout for an Assistant Underwriter to join our EDI New Business team. If you have a minimum of 3 years of general insurance experience, including at least 2 years in Household Insurance or personal lines underwriting, and are eager to take the next step, this opportunity is for you.

Whether you’ve been handling household quotes and referrals at an insurer, issuing policies at a Broker, or have experience working within an underwriting environment, we welcome your experience and enthusiasm. This role is an exciting progression for those seeking substantial responsibility and the chance to evolve into a technical and underwriting role.

About Us

Magenta Insurance, a Chartered Insurance Underwriting Agent, boasts nearly 30 years of market experience, long-standing relationships, and an excellent reputation. We specialize in underwriting predominantly non-standard and distressed residential property policies, providing solutions that others find challenging to place.

We have recently expanded our market presence with the acquisition of a book on household business administered through key Broker EDI platforms.

The Role

Our EDI New Business team works with Brokers on a wholesale basis, supporting them as they quote and place household business through EDI platforms. Reporting to the EDI New Business Team Leader, you’ll handle a significant volume of telephone referrals from Brokers every day, underwriting risks within your designated authority and providing referral codes that allow quotes to proceed, alongside efficient technical and administrative support to the wider team. You’ll contribute significantly to the development of our new business Underwriting portfolio while honing your skills to liaise with key internal and external stakeholders.

This role could be considered for a degree of Hybrid working, however the complex nature of the work means having colleagues on hand for assistance is a significant advantage.

Primary Responsibilities

• Evaluate and underwrite low complexity risks referred by Brokers quoting via EDI platforms, predominantly by telephone, within designated authority and following established procedures, and provide referral codes to Brokers.
• Ensure accurate underwriting data is captured on systems to minimize risk and ensure high-quality output of information.
• Support underwriting through general administration to ensure delivery of a professional service.
• Develop your technical and underwriting knowledge to take on more complex cases over time.
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Additional responsibilities

• Assist Underwriters in recording risk details on source systems and building broker relationships as required.
• Handle a high daily volume of incoming telephone referrals from Brokers, applying commercial underwriting to secure the sale.
• Accurately complete referrals submitted by email and record the instructions provided to Brokers.
• Maintain underwriting documentation/files and keep all documentation in order.
• Communicate with brokers and request underwriting information from them.
• Process new business, including data entry into the system, population of relevant systems, and incepting cover.
• Develop underwriting knowledge to gain increased underwriting authority across our suite of products.
• Comply with all legal and regulatory requirements to ensure obligations are met.
• Study for, and pass, the 3 units required to obtain the CII’s certificate qualification.

Skills, Knowledge & Abilities

We value our people as our most precious asset and understand the importance of fostering a work environment that is responsive to the changing needs of today’s workforce. We’re interested not just in your past achievements and current skills but also in your potential.

Technical Experience

• A minimum of 3 years insurance experience
• A minimum of 2 years experience in Household Insurance or personal lines underwriting
• Experience working within an underwriting environment would be beneficial
• Good understanding of Property Insurance
• Minimum 1 year experience of telephone-based work in a technical, high-volume environment, preferably within household insurance.

If you’re a creative thinker, curious, ready to challenge the status quo, and have an appetite for achievement and building a career within the insurance market, we’d love to hear from you.

What do we offer in return?

A career that you define.

Of course, we offer a competitive range of rewards and benefits to support you, but we know you expect all that.

What you might not expect is a job where everyone has a voice, where volunteering in the community is part of the day job, and where everyone is encouraged to play a part towards our sustainability goals. We want people who want to make a difference - not just in the workplace, but in the industry and in the wider community.

Our culture: people first

Our core values dictate how we live and work. We’re a group with independence and people at its heart – and a home for talent with a unique culture: the biggest small company in the world.

Being a people-first business has always been central to who we are. Our vision was to create an independent organisation with a distinctive culture that would survive and thrive through the people who shape it. Finding the most talented and entrepreneurial individuals to join the group has been, and will continue to be, key to our success.

Diversity and inclusion

At DUAL, our people are our greatest strength. We are committed to building an open and inclusive culture where everyone feels trusted and that they belong. We work to ensure all candidates, employees, clients and business partners are treated with fairness and respect.

We want every candidate to be able to bring their best to the recruitment process, so if you require reasonable accommodation at any stage, please let us know and we will work with you to provide appropriate support.

Permanent