Head of Energy Underwriting

Travelers; London; Hybrid; GBP 70,000 - 100,000; Full time

Job summary

A leading property casualty insurer seeks an Underwriting Leader in the energy sector to oversee and develop a profitable portfolio. This pivotal role requires expertise in risk assessment and strategic decision-making, with a focus on collaboration and leadership within the underwriting team. The ideal candidate will have significant experience and a track record of success in complex insurance underwriting.

Benefits

Private Medical Insurance

Retirement contributions

25 days holiday entitlement

Wellness Programme

Volunteer Encouragement

Qualifications

• Significant experience of the energy market with advanced energy underwriting capability.
• Proven track record of leadership and team management.
• In-depth knowledge of insurance products and regulatory requirements.

Responsibilities

• Lead the underwriting activities for the energy portfolio.
• Conduct thorough risk assessments for complex insurance submissions.
• Cultivate strong relationships with brokers and clients.

Skills

Analytical skills

Risk assessment

Relationship management

Education

Advanced degree or professional certifications (e.g., ACII)

Tools

Data analytics tools

Underwriting systems

Microsoft Office Suite

Job description

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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 160 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

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 160 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?

You will play a pivotal role in maintaining and shaping the future of our energy insurance portfolio.

Working in partnership with colleagues across the business, you will lead a team of skilled underwriters, developing and implementing profitable underwriting strategies across all energy sectors, including traditional and renewable sources.

Your expertise in risk assessment, market analysis, and strategic decision-making will contribute significantly to the profitability and reputation of Travelers Business Insurance, Specialty.

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?

• Portfolio Management: Lead the underwriting activities for the energy portfolio in collaboration with the Active UW, BI Underwriting Office, and US Underwriting Office, ensuring alignment with the company's strategic objectives. Develop and implement underwriting guidelines and standards specific to the energy sector.
• Risk Assessment: Conduct thorough risk assessments for complex insurance submissions, evaluating exposures, loss potentials, and other relevant factors. Apply sound underwriting judgment to determine acceptability and pricing of risks.
• Monitor and analyze the performance of the energy portfolio, making recommendations for adjustments as necessary.
• Market Analysis: Stay abreast of market dynamics, emerging trends, and regulatory developments impacting the insurance industry. Utilize market intelligence to inform underwriting decisions and capitalize on market opportunities.
• Relationship Management: Cultivate strong relationships with brokers, clients, and other stakeholders within the insurance marketplace. Collaborate effectively to negotiate terms, resolve issues, and drive business growth.
• Underwriting Compliance: Ensure compliance with Lloyd's underwriting standards, regulatory requirements, and internal policies. Conduct regular audits and reviews to uphold underwriting quality and integrity.
• Team Development: Foster a culture of inclusion, continuous learning, and excellence within the underwriting team. Strive to maximize team capability for both personal development and technical underwriting. Manage performance of the existing team whilst being aware of external talent opportunities to enhance team performance.
• Operational Efficiency: Support the Active UW, partner with the UW office and functional leaders to streamline underwriting processes, leverage technology solutions, and implement best-in-class underwriting practices to enhance operational efficiency and effectiveness.
• Stakeholder Communication: Communicate underwriting strategies, performance metrics, and key initiatives to senior management and other internal stakeholders. Present findings and recommendations in a clear, concise manner.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Significant experience of the energy market with advanced energy underwriting capability
• Proven track record of leadership and team management, with the ability to inspire and motivate a high-performing underwriting team.
• Strong analytical skills, with the ability to assess risks, interpret data, and make informed underwriting decisions.
• Excellent communication and interpersonal skills, with the ability to build rapport and negotiate effectively with stakeholders.
• In-depth knowledge of insurance products, underwriting principles, and regulatory requirements applicable to London Market / Lloyd's of London.
• Proficiency in underwriting systems, data analytics tools, and Microsoft Office Suite.
• Advanced degree or professional certifications (e.g., ACII) preferred.

What is a Must Have?

• Extensive experience in underwriting complex insurance risks within the Lloyd's market or a similar environment.
• Substantial experience underwriting higher hazard classes of business.
• Experience influencing at all levels and driving optimal results through inclusive leadership.
• Proven experience of, and capability to make technical underwriting decisions.

What Is in It for You?

• Private Medical Insurance: 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 includes tools, discounts, and resources that empower you to achieve your wellness goals and caregiving needs. Our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
• Volunteer Encouragement: We encourage our employees to get involved in community service. 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.