Class Underwriter - Cyber

Chaucer; London; On-site; GBP 55,000 - 75,000; Full time

Job summary

A leading insurance group is seeking an Underwriter for its Cyber portfolio in London. The successful candidate will manage negotiations, develop client relationships, and assist with strategy execution. The role offers a unique opportunity to engage with the insurance market globally and uphold customer satisfaction.

Qualifications

• Relevant insurance experience with underwriting
• Experience negotiating with brokers and clients
• Understanding of business planning

Responsibilities

• Negotiate renewals and new business in Cyber portfolio
• Develop new client relationships, including foreign travel where needed
• Support Head of Cyber in insurance strategy development

Skills

Negotiation

Communication

Organizational skills

Teamwork

Adaptability

Education

ACII

Tools

Microsoft Office

Excel

Job description

Job Profile Summary

To assist and support the Head of Cyber in all aspects of the underwriting of the cyber account and execution of the Chaucer Cyber insurance strategy.

Job Description

• Agreement and negotiation of renewals and new business in accordance with underwriting authority and where appropriate, individual budget goals within the Cyber portfolio
• Agreement of endorsements / amendments / promised lines in accordance with underwriting authority
• Acceptance of individual declarations to specified line-slips
• Agreement of special acceptances and referrals to binding authorities, line-slips and consortia
• Pro-active Marketing to meet class and divisional budgets
• Build on existing, and develop new, long term client relationships including foreign travel where appropriate
• Build strong market peer group reputation
• Participation in, and where appropriate, chairing of special projects as and when required in order to meet Chaucer’s long term objectives
• Ensure records are properly recorded and updated
• Specific account analysis
• Assisting Head of Cyber in preparation of Executive Reports, including Outwards Reinsurance submissions
• Coding and Risk Administration
• Support the Head of Cyber in development finement of Chaucer’s Cyber Insurance offerings, and the shaping of strategy
• Liaison with Actuarial, Exposure Management and Claims functions
• Liaison with Cyber analytics function
• Client and broker liaison for allocated risks
• Act as an underwriting referral point for colleagues with authority in the Cyber team
• Reporting of issues to Head of Cyber
• Maintain currency with relevant subject matter, including via continuous professional development
• Comply with both Lloyds and Company market regulations and byelaws

Regulatory Responsibilities

Manage the relationships with Customers, Agents and Service Providers:

• Advise, assist and service customers on insurance and risk matters to promote customers’ satisfaction
• Foster positive relationships with Customers and attain an understanding of their needs;
• Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate; and,
• Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers.
• Complete all required annual product review assessments to agreed timescales with approvals obtained and recorded
• Follow all Chaucer Group Product Governance processes in the UCM and obtain appropriate approvals

Skills and Competencies

• Relevant insurance experience with underwriting experience
• Experience of negotiating with brokers and liaising with clients
• Understanding of business planning process.
• Microsoft office, Excel
• Flexible and adaptable
• Excellent organisational skills
• Excellent communication skills at all levels
• Works as part of a team
• Adapt to a pressured environment

Education

• ACII

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).

A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.

We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.