Deputy Class Underwriter - Cargo

Chaucer; City of Westminster; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading insurance group is seeking an Underwriter to assist in managing the Cargo and Specie portfolio. The role involves negotiating renewals, developing pricing tools, and maintaining client relationships. Candidates should have relevant marine insurance experience and strong negotiation skills. The position is based in London and promotes a culture of diversity and inclusion.

Benefits

Flexible working arrangements

Diversity and inclusion initiatives

Qualifications

• Relevant marine insurance and underwriting experience required.
• Experience of negotiating with brokers and clients.
• Able to communicate effectively with different levels.

Responsibilities

• Assist in underwriting and management of the Cargo and Specie portfolio.
• Negotiate renewals and new business.
• Develop and enhance pricing tools and methodologies.

Skills

Marine insurance experience

Negotiation skills

Client liaison

Excel (Intermediate)

Teamwork

Communication

Education

ACII or near completion

Job description

Overview

To assist the Senior Cargo and Specie Underwriters in all aspects of underwriting and management of the Cargo and Specie portfolio with specific responsibility for the growth of the Cargo account.

Responsibilities

• Agreement and negotiation of renewals and new business in accordance with underwriting authority and appropriate, individual budgeted goals within the Cargo and Specie portfolios.
• Utilise pricing models to generate risk assessments and premium calculations, review and validate model outputs to ensure accuracy in pricing recommendations, interpret pricing model results and make necessary adjustments. Assist in the development and enhancement of new pricing tools and methodologies.
• 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 treaties.
• Pro-active marketing to meet class and divisional budgets.
• Build on existing and develop new long term client relationships including where appropriate foreign travel.
• Build strong market peer group reputation.
• Participating on and where appropriate chairing special projects as and when required in order to meet Chaucer's long term objectives.
• Ensure box records are properly recorded and updated, including client files.
• When required scanning and taking notes of underwriting information.
• Specific account analysis.
• Assisting the Senior Cargo and Specie Underwriter in preparation of monthly Executive Report.
• Deputising for the Class Underwriter when absent at Divisional meetings.
• Peer Review of risks as allocated under the peer review selection criteria and responsibility matrix as set out in the Underwriting Manual.
• Responsibility for the accuracy and upkeep of all written premium data on Charisma for all risks written within the area of responsibility.
• Liaison with Administration Department.
• Liaison with Claims Department.
• Reporting of issues to Head of Marine & Energy
• Client liaison for allocated risks.
• Referral point for Assistant Underwriter.
• Reporting to Active Underwriter in absence of Head of Marine, Senior Cargo and Specie Underwriter.
• Regulatory Responsibilities: Comply with all policies and procedures and ensure that due regard is paid to providing good customer outcomes and the fair treatment of customers. Manage the relationships with Customers, Agents and Service Providers.

Regulatory and Compliance Details

• 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
• 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
• Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers

Qualifications

• Relevant marine insurance and underwriting experience
• Experience of negotiating with brokers and liaising with clients
• Understanding of business planning process
• Excel - Intermediate
• Organised and able to work to tight deadlines and manage multiple priorities
• Able to communicate with different levels and is adaptable
• Resilient and able to work in a pressured environment
• Works as part of a team, ACII or very near completion

About Chaucer

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. 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.