Assistant Underwriter

DUAL UK; Bury St Edmunds; Hybrid; GBP 28,000 - 38,000; Full time

Job summary

Magenta Insurance is seeking an Assistant Underwriter to join the 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, this opportunity is for you.

Whether you've handled household quotes and referrals at an insurer, issued policies at a broker, or have experience within an underwriting environment, we welcome your enthusiasm.

Qualifications

• Minimum 3 years of general insurance experience.
• At least 2 years in Household Insurance or personal lines underwriting.
• Experience in an underwriting environment is beneficial.

Responsibilities

• Evaluate and underwrite low to mid-complexity risks referred by Brokers via EDI platforms.
• Ensure accurate underwriting data is captured on systems.
• Provide referral codes to Brokers to enable quotes to proceed.
• Support the wider underwriting team with administration and documentation.
• Develop underwriting knowledge to handle more complex cases over time.
• Study for and pass the 3 units required for the CII certificate.

Skills

Insurance experience

Household underwriting

Telephone-based work

Underwriting environment

Property Insurance

Education

CII Certificate in Insurance

Job description

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.
• undefined

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. 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.

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.