Delegated Underwriting Administrator

Munich Re; London; On-site; GBP 25,000 - 35,000; Full time

Job summary

A leading insurance company is seeking a Delegated Underwriting Administrator for their London office. This entry-level position involves supporting delegated underwriting processes, maintaining records, and liaising with various stakeholders. Ideal for individuals looking to start their career in insurance, the role offers a supportive environment for personal growth and development.

Benefits

Critical illness insurance

Life Assurance

Health Assessments

Electric Vehicle Salary Sacrifice Scheme

Qualifications

• Entry-level role suitable for school leaver, graduate, or career changers.
• Ability to manage workload and work jointly with colleagues required.
• Demonstrate a high degree of attention to detail and accuracy.

Responsibilities

• Support DU workflows for Coverholder on-boarding and Binding Authority renewals.
• Maintain accurate DU records and undertake quality control.
• Liaise with internal and external stakeholders.

Skills

Organisational skills

Attention to detail

Communication skills

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

We are currently looking for a Delegated Underwriting Administrator to work with us on a full-time basis in our London office, reporting into the Deputy Delegated Underwriting Manager.

This is an entry level role suitable for a school leaver, graduate or an individual looking for a change in career.

You will support the delivery of timely and effective Delegated Underwriting (DU) processes and workflows by maintaining accurate information in DU systems and liaising with all members of the DU team in relation to coverholder on-boarding, binding authority agreements and audits with the Underwriting Delivery team regarding bordereaux management.

Responsibilities:

• Understand and support DU workflows relating to first Coverholder on-boarding and Binding Authority renewals using MRS and Lloyd's (Atlas, DCOM) systems;
• Understand MRS DU tools and maintain accurate DU records, including Coverholder and Binding Authority entries using MRS dedicated tools (Subscribe and MASSDA), and undertake quality control of the underwriting teams’ entries on a weekly and monthly basis;
• Support the delivery of the DU audit plan by maintaining data pertaining to audits and recommendations;
• Liaise with the Underwriting Delivery team to support accurate bordereaux records including, also dealing with relevant internal and external stakeholders as such Lloyd's brokers and MRS Underwriters as required;
• Review Lloyd's international regulatory trading requirements, e.g. Crystal reviews to support PBQA;
• Support the implementation of Lloyd's, MRS, FCA and other regulators’ policies and procedures in relation to DU, e.g. review and circulate Lloyd’s Market Bulletins;
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders;
• Understand all appropriate lines of escalation and the responsibilities of governance within MRS DU team and other stakeholders.
• Any other tasks as required to support MRS DU team

Knowledge and Skills

• Demonstrate strong organisational skills
• Demonstrate high degree of attention to detail and accuracy and use of relevant reporting tools
• Ability to manage own workload and to work both supportively and jointly with colleagues
• Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines
• Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support