Development Underwriter - Property & Casualty

Travelers Insurance Co. Ltd.; City Of London; Hybrid; GBP 60,000 - 90,000; Full time

Job summary

Travelers Insurance Co. Ltd. in London seeks a Development Underwriter passionate about creating new business and building broker relationships in the London market.

You will proactively manage submissions, quotes and binds, applying your Property & Casualty underwriting knowledge to assess risk, negotiate terms and sell our products across, driving profitability and long-term success for Travelers. Travelers Europe offers a hybrid work arrangement: three days in the office and two at home.

Qualifications

• Experience in property and casualty underwriting and risk assessment.
• Proven ability to develop broker relationships.
• Strong negotiation and decision-making skills.
• Demonstrated capacity to manage a multi-line book of business.

Responsibilities

• Manage profitability, growth, and retention of an assigned book across most products.
• Underwrite and negotiate moderate risks to maximise profitability.
• Proactively manage portfolio and target new business and retention.
• Collaborate with Manager on risk characteristics identified through Portfolio Management.
• Identify opportunities to write additional lines of business using knowledge of products and risk appetite.
• Utilise technology platforms to quote and bind risk efficiently.
• Provide input for underwriting reviews for individual policies or portfolios.
• Cultivate and maintain relationships with internal partners to identify cross-selling opportunities.
• Maintain broker relationships by phone, email or other channels to market Travelers products and drive writing and retention.
• Develop and execute pipeline plans and support renewal team in retention of business.
• Train and mentor less experienced underwriters and support more junior team members.

Skills

Broker relationships

Underwriting

Risk assessment

Negotiation

Portfolio management

Sales orientation

Job description

Business Insurance helps companies in the UK and Ireland identify, prepare for and mitigate risks by offering a broad array of industry-specific, combined property and casualty insurance solutions to customers.

We are looking for a Development Underwriter who is passionate about new business development and building strong broker relationships concentrating on the London market. You will proactively manage submissions, quotes and binds, while cultivating and maintaining broker partnerships delivering tailored insurance solutions. Decisive and detail-oriented, you will use your technical Property & Casualty underwriting knowledge to independently assess and evaluate risk, negotiate terms and sell our products across, driving sustainable profitability and long-term success for Travelers.

Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company's discretion.

What Will You Do?

• Manage the profitability, growth, and retention of an assigned book of business comprised of routine to moderately complex accounts across most of our products.


• Underwrite and skillfully negotiate moderate risks to minimise risk and maximise profitability, including Mid Term Adjustments (MTAs).


• Proactively manage your portfolio, ensuring key performance indicators are consistently achieved and you actively target new business and retention.


• Identify and take corrective action in collaboration with your Manager / Team on individual risk characteristics identified through Portfolio Management.


• Identify and capture opportunities to write additional lines of business using knowledge of products, risk characteristics and appetite.


• Proactively utilise various technology platforms to quote and bind risk efficiently.


• Provide input and support the presentation of Underwriting Reviews for individual policies or portfolios and manage action points.


• Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to identify cross-selling opportunities.


• Foster and maintain relationships with brokers by phone, email or other communication channels to market and sell Travelers products with a goal of writing and retaining accounts consistent with our risk appetite. Must be able to travel to meetings.


• Develop and execute pipeline plans and support the renewal team in the retention of business that aligns with the team's sales plans to drive success working in partnership with the sales team.


• Train and mentor less experienced underwriters.


• Support and collaboration for more junior members of the team, including referrals.