Assistant Underwriter, Contingency

Arch Insurance; City Of London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading insurance provider is seeking an Underwriter to manage the UK Regional Contingency business. The successful candidate will be responsible for underwriting various accounts, managing broker relationships, and ensuring accurate documentation. Strong knowledge of underwriting principles and experience in the UK market are preferred. This role involves collaboration with stakeholders and a chance for professional growth within a supportive team environment.

Qualifications

• Strong knowledge of underwriting principles and practices.
• Experience in the UK insurance market preferred.
• Ability to work collaboratively with internal and external stakeholders.

Responsibilities

• Underwrite new and renewal business for the UK Regional Contingency.
• Maintain accurate underwriting documentation.
• Develop relationships with brokers and clients.

Skills

Underwriting expertise

Broker relationship management

Analytical skills

Attention to detail

Education

Relevant degree or equivalent experience

Tools

Arch IQ portal

Excel

Job description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

Role Purpose

The primary responsibility is to Underwrite the company’s book of UK Regional Contingency business as well as business placed via the Arch IQ on-line quote and bind system in accordance with Arch Insurance’s written underwriting guidelines and an allocated personal underwriting authority. This will include both on-line and off-line business. The online business is initially transacted via a broker facing quote and bind portal which targets the UKR brokers and provides a secondary option for London Market broker to place smaller business. The successful candidate will be responsible for underwriting large a mix of accounts in the UKR. This will include handling referrals through the Arch IQ portal, working with internal and external stakeholders to widen the geographic scope of the system and look for opportunities to add new products and distribution.

The position will also additionally require the candidate to assume some responsibility for ensuring administrative and support tasks are accurately complied with.

Duties will include reviewing underwriting submissions and referrals, carrying out wording reviews, processing work. The candidate will also be responsible for developing the account, maintaining / fostering good relations with brokers and clients, onboarding brokers, marketing the product to Arch regional offices and attending client meetings where applicable. There is considerable scope of account development and the launch of complimentary coverages and products.

This Role will support the Lead Underwriter Event Insurance – UK Regions and the wider Contingency team where required.

Key Responsibilities

• Underwriting new and renewal business in accordance with personal underwriting authority and assisting the department underwriters/manager in other underwriting activities.
• Underwriting a balanced & profitable account.
• Ensure accurate recording of underwriting information on the Arch IQ portal and follow the procedures for logging manually created accounts for a clear audit trail.
• Conduct account clearance procedures with other parts of the Corporation for overseas risks, as may be required.
• Undertake internal underwriting reviews of other underwriter’s files as may be directed. Carry out Peer Review and ensure accurate completion and/or review of Peer sheets.
• Undertake Research activities, as directed, for additional underwriting information from the Internet or other external sources.
• Keeping up to speed with socio/economic developments in the territories of insured events.
• Preparation of underwriting exhibits as requested, including excel spreadsheets and/or other underwriting exposure comparison sheets, or work-up related documentation.
• Provide assistance and input in the annual budgeting process, as may be required.
• Preparation and presentation of underwriting data requested by your manager or other members of senior management.
• Acting as an additional underwriting resource which may involve traveling between you contracted office and other UKR offices.
• Attending meetings with the company’s client’s or prospective client’s as may be required, including travel in UK, Ireland, Continental Europe or USA as may be required.
• Market Arch products and proactively manage broker relationships.
• Providing training & assistance to UKR based colleagues to better understand and cross the product suite.
• Maintenance of appropriate business activity logs to record, submission activity, or premium activity for management reports.
• Assist in the preparation and presentation of underwriting quotation documentation as may be directed.
• Assist in the resolution of outstanding premium receivable issues, as may be directed.
• General duties associated with day to day underwriting operations, including file preparation, general filing, answering telephones etc.
• Stay abreast of industry topics and changes in legislation impacting the line of business.

14101 Arch Europe Insurance Services Ltd