Portfolio Solutions Underwriter

Munich Re; Greater London; On-site; GBP 50,000 - 90,000; Full time

Job summary

A forward-thinking company is seeking a Portfolio Solutions Underwriter to join their dynamic team in London. This pivotal role involves underwriting, performance management, and building strategic relationships with brokers and coverholders. The ideal candidate will have extensive experience in underwriting and a strong analytical mindset. You will contribute to the growth of a well-diversified portfolio while fostering a collaborative environment. Join this innovative firm to make a significant impact in the specialty insurance space and help drive profitable growth with your expertise.

Benefits

Critical illness insurance

Life Assurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Professional Development Support

Qualifications

• Extensive experience in underwriting and pricing in insurance.
• Strong analytical and numerical skills for data-driven decisions.

Responsibilities

• Underwrite new and renewal portfolios while managing performance.
• Develop relationships with brokers to secure new business.

Skills

Underwriting experience

Analytical skills

Stakeholder management

Numerical skills

Time management

Data analysis

Tools

Spreadsheets

Databases

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 Portfolio Solutions Underwriter to work with us on a full-time basis in our London office, reporting into the CUO - Portfolio Solutions.

The Portfolio Solutions team provides capacity to consortia / Broker Facilities / MGAs / Coverholders on a delegated authority basis across a wide range of product lines creating a well-diversified and profitable portfolio.

This role is responsible for assisting the CUO, Portfolio Solutions in underwriting, performance management and portfolio management of the account. The role will also assist the CUO Portfolio Solutions in developing and delivering the strategy to achieve profitable growth of the account. In addition the role will make and build relationships with external partners e.g. brokers and coverholders and attract business to the company.

Responsibilities:

• Underwrite new and renewal portfolios, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan; referring to CUO Portfolio Solutions when appropriate
• Ensure the effective management of the portfolio, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits; referring to CUO Portfolio Solutions when appropriate
• Conduct and develop effective relationships with Coverholders and Brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan
• Discuss new opportunities, deal pipeline and ideas with the wider underwriting and distribution team to ensure knowledge sharing and alignment
• Monitor and analyse the performance of the in-force business, through relevant metrics, noting any deviations from business plan and taking corrective action where necessary
• Embed a data driven approach to underwriting that incorporates commerciality in order to achieve profitable growth
• Work collaboratively with colleagues in other classes of business to deliver profitable portfolio business and avoid potential misalignment
• Work collaboratively with internal stakeholders (Delegated Underwriting, Pricing and Reserving, Claims, Capital and Exposure Management) as required
• Assist in strategy setting, business reporting and business planning activities
• Attend and contribute to regular and ad-hoc Portfolio Solutions team meetings, meetings with colleagues within MRSG, and meetings with Coverholders, brokers, suppliers and other entities.
• Actively engage with the market to understand opportunity and market trends
• Collaborate with senior management team to establish and maintain best practices, standard processes, compliance regulations, and other MRSG policies
• 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 the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC) , ExCo and Board for Conduct Risk.

Knowledge and Skills

• Extensive experience in Underwriting/Pricing/Distribution/Exposure Management functions of insurance companies (commercial/specialty focused is preferred)
• Previous experience of underwriting delegated authority business
• Strong analytical, numerical and quantitative skills
• Excellent presentation, prioritisation, and time management skills
• Excellent stakeholder management and influencing skills
• Ability to understand complex structures and then clearly articulate these to stakeholders
• Ability to analyse large and complex datasets and make data driven/informed decisions
• Highly computer literate, able to use spreadsheets, databases and learn the use of new systems.
• Capable of developing and maintaining effective cross-functional relationships at all levels.
• Highly computer literate, able to learn the use of new systems.
• Ability to multi-task and manage conflicting priorities in order to meet tight deadlines

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