Development Underwriter - SME

Travelers; Birmingham; Hybrid; GBP 45,000 - 65,000; Full time

Benefits offered by this job

Private Medical Insurance

Pension Plan

Holiday Entitlement

Wellness Programme

Volunteer Rewards

Job summary

Travelers is seeking an SME Underwriter to manage a book of small to medium sized business risk, from submissions through to binds, using sharp risk analysis to meet targets.

The role involves negotiating with brokers, developing broker partnerships, and working within a hybrid model that includes three days in the office and two days at home.

Qualifications

• Good knowledge of products and the local insurance market.
• Strong underwriting and financial analysis capabilities to assess risk.
• Ability to negotiate with brokers and build broker relationships.
• Commitment to inclusion and working with diverse teams.
• Experience reviewing competitor activity to inform underwriting decisions.
• Experience participating in projects related to product changes and regulatory updates.

Responsibilities

• Manage profitability, growth and retention of an assigned book across multiple products.
• Underwrite and negotiate risks to optimise profitability; perform MTAs.
• Proactively manage portfolio and target new business and retention.
• Collaborate with Manager/Team on risk characteristics and corrective actions.
• Identify opportunities to write additional lines of business.
• Use technology platforms to quote and bind E-Trade risk.
• Support underwriting reviews for policies and portfolios.

Skills

Underwriting knowledge

Financial analysis

Broker negotiation

Communication

Inclusion and collaboration

Portfolio management

Education

UK: A-Levels or equivalent

Job description

Who Are We?

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Job Category

Underwriting

Target Openings

1

What Is the Opportunity?

Business Insurance, SME provides Property and Casualty insurance for Small to Medium sized businesses through our Broker networks and deals with high volume eTrade Insurance.

Do you thrive on winning new business and building lasting broker relationships? As an SME Underwriter, you’ll own the full trading cycle — from submissions and quotes through to binds — applying sharp risk analysis to consistently hit your targets. We’re looking for a commercially minded underwriter who brings strong negotiation skills and a genuine drive to grow and deepen broker partnerships.

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 low to moderately complex accounts across most of our products.
• Underwrite and skillfully negotiate 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 E-Trade 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.
• Develop and execute individual pipeline (and/or retention) plans that align with the team’s sales plans to drive success working in partnership with the sales team. (NB only)
• Train and mentor less experienced underwriters.
• Support and collaboration for more junior members of the team, including referrals.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Knowledge: Good knowledge of products, the regulatory environment, and the local insurance market.
• Analytical/Critical thinking: Good critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyse available information to make decisions in alignment with our risk appetite.
• Communication/Influence: Communication skills with the ability to successfully negotiate with brokers.
• Inclusion: Ability to work with people from different backgrounds, experiences, cultures, races, etc. and views those differences as assets to be leveraged to accomplish business goals and objectives.
• Industry / Competitor Analysis: Review competitor press releases and industry trade press for helpful insights, linking key themes together.
• Project Management: Participate in projects that involves analysis and the implementation of non-complex, routine business and regulatory changes relating to the enhancement, maintenance or introduction of new products.

What is a Must Have?

• UK: A-Levels or similar qualification
• Good experience of underwriting, product knowledge, financial analysis, or risk assessment experience.

What Is in It for You?

• Private Medical Insuran** ce:**On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
• Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan. Additionally, if you decide to contribute to the plan, you will receive an increased company contribution.
• Holiday Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
• Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.