Chief Underwriter | London, UK

Canada Life Limited; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a skilled professional to lead their medical underwriting and claims philosophy. This role involves developing a commercially focused underwriting team, ensuring fair customer outcomes, and maintaining compliance with industry standards. You'll leverage your extensive knowledge of medical underwriting to implement effective systems and processes, while also fostering collaboration across teams. Join a forward-thinking organization that values diversity and offers a range of benefits, including a competitive salary, generous pension, and opportunities for professional development.

Benefits

Generous Pension Scheme

Private Medical Insurance

Life Assurance

Income Protection

Flexible Working Arrangements

Professional Development Opportunities

Bonus Scheme

Qualifications

• Excellent understanding of medical underwriting and risk factors.
• Able to underwrite across multiple product lines effectively.
• Strong knowledge of industry best practices and compliance standards.

Responsibilities

• Set underwriting and claims policies in line with company requirements.
• Ensure operational efficiency and compliance with guidelines.
• Manage relationships with reassurers and provide training to teams.

Skills

Medical Underwriting Knowledge

Claims Management

Data Analysis

Negotiation Skills

Team Leadership

Excel Skills

Communication Skills

Education

Degree in Finance or Related Field

Tools

Underwriting Manuals

Claims Processing Systems

Job description

Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third-party customers.

Job Summary

• To have corporate responsibility for medical underwriting and claims philosophy and ensure its effective implementation.
• To develop a commercially focused underwriting team performing research and developing underwriting rules to support Canada Life's objectives.
• To embed systems and processes that increase the ability to offer:

• Fair and consistent customer and business outcomes
• Informed and data-led decision making
• Proportionate to risk
• Operational efficiency
• Compliance with reinsurance treaties

Demonstrate collaboration with CL pricing and claims and customer servicing teams. Achieve fluidity between the rates we charge (pricing) and the health assessment we perform through Medical UW and Claims.

To ensure overall quality of Medical Underwriting and individual claims management for the UK and IOM.

What you'll Do

• Set Underwriting & Claims Policy/Philosophy in line with Company Requirements
• Embed systems and processes that increase the ability to offer:

• Fair and consistent customer and business outcomes
• Informed and data-led decision making
• Proportionate to risk
• Operational efficiency
• Compliance with reinsurance treaties

Implement and review appropriate controls/limits/evidence requirements to ensure claims/cases are accepted/rejected in line with Company policy, Reinsurance arrangements, Policy provisions, ABI & FOS guidelines and above all Consumer duty requirements.

Resolve contentious claims accurately, balancing the needs of the Customer, Company & Reassurer in the most appropriate way. Be mindful of FOS/ABI guidelines in this area.

Maintain a high level of claims/underwriting knowledge to provide advice, guidance & support to operational teams and senior management. Introduce systems and processes to achieve operational efficiency.

Provide support, training and guidance to Operational teams.

Manage relationships with Reassurers, Chief Medical Officer and FOS to ensure strategy, claims policy and processes are current and meet risk assessment/audit requirements.

Act as the Nominated Genetic Underwriter for the company, as per ABI requirements.

Who You Are

Excellent underwriting knowledge:

• Detailed understanding of medical underwriting risk factors.
• Able to underwrite for multiple product lines.
• Full understanding of the ABI's Statement of Best Practice including genetics, and how they apply.
• Fully conversant with underwriting manuals and processes.
• Detailed understanding of the company's products which require underwriting input.
• Maintains underwriting knowledge with industry and market changes.
• Able to evaluate and introduce technological solutions.
• Able influence and persuade through open, collaborative, team working ways.
• Able to address conflicts, and negotiate acceptable solutions for all parties.
• Able to provide coaching and training to develop staff.
• Able to build strong relationships.
• Able to lead on technical issues.
• Able to explain complex ideas simply.
• Good Excel and Word skills.

Please note this role falls under Significant management function for both CLL and CLP and is also a MRT for Solvency II.

Benefits of working at Canada Life

We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that's regularly reviewed. As a Canada Life UK colleague, you'll receive a comprehensive reward package including a generous pension and bonus scheme, income protection, private medical insurance and life assurance. We also offer various other benefits and support services, along with opportunities for personal and professional development.

How we work at Canada Life

Our culture is unique and incredibly important. We care about doing the right thing for our people, customers and community and helping others to build better futures. Our blueprint behaviours shape how we work and influence our relationships. We encourage curiosity, ownership, collaboration, and resilience.

We invest in our people, technology and workplaces, offering training, flexible working, and development opportunities.

Diversity and inclusion

We are committed to an inclusive workplace where everyone feels they belong and can achieve their potential. We value diverse backgrounds, experiences, and perspectives, and are proud of our progress in DEI. We are happy to discuss flexible working arrangements, including part-time roles, to accommodate individual needs.