Product Development Underwriter

Insure Recruitment; City Of London; Hybrid; GBP 81,000 - 99,000; Full time

Benefits offered by this job

Pension

Private medical insurance

Death in service

Business expenses / company card

Hybrid/remote working

Job summary

Insure Recruitment is seeking an experienced underwriter to identify a new product opportunity in Property & Casualty and Motor, with the autonomy to shape pricing, appetite and guidelines from concept to launch.

The role emphasizes deep expertise in Management Liability, Standalone Liability and Recycling & Waste, using MI to drive underwriting decisions and portfolio development. Hybrid/remote flexibility is available in a growing MGA setting.

Qualifications

• Expertise in Management Liability, Standalone Liability or Recycling & Waste markets.
• Experience in product development, delegated authority, binders and pricing/rating.
• Knowledge of policy wordings, e-trade, portfolio management and MI-driven underwriting.

Responsibilities

• Taking technical ownership from concept through to launch.
• Define appetite and target markets; develop business case.
• Develop pricing, rating structures, and policy wordings.
• Create underwriting guides, authorities and referral rules.
• Support launch through broker distribution networks.
• Monitor GWP, profitability and portfolio performance.

Skills

Technical underwriting

Underwriting appetite

Pricing & rating

Policy wordings

E-trade

Portfolio management

Capacity relationships

MI analytics

Capacity support

Job description

Ever thought you could build a better insurance product if you were given the backing and autonomy to do it?

Join an ambitious, growing MGA that is developing its proposition across Property & Casualty and Motor and is now looking for an experienced underwriter to identify and build its next complementary area of growth.

This is an opportunity to use your technical underwriting expertise to develop and launch a new product from the ground up, with genuine autonomy to shape the proposition and the backing to bring it successfully to market.

There is particular interest in expertise across Management Liability, Standalone Liability and Recycling & Waste, although ultimately the strength of the opportunity and business case will be key.

You’ll be the technical expert behind the product - identifying the opportunity and shaping everything from appetite, pricing and underwriting guidelines through to launch and ongoing portfolio development.

The Opportunity

We’re looking for someone who really understands their chosen market, both technically and commercially, and can identify an opportunity to create a proposition that could perform better.

You may know where there is an underserved part of your market, where existing products could be improved or where brokers are struggling to find the right solution.

Rather than joining to manage an established book, you’ll have the opportunity to turn that knowledge into a commercially viable insurance proposition.

What You’ll Be Doing

Taking technical ownership from concept through to launch, you could be responsible for:

• Identifying the market opportunity and developing the business case
• Defining target markets and underwriting appetite
• Developing underwriting strategy and risk selection criteria
• Creating underwriting guides, authorities and referral rules
• Developing pricing, rating structures and policy wordings
• Translating the proposition into effective e-trade and software house rules
• Working collaboratively to secure appropriate capacity
• Working with technology and operational teams to get the product ready to trade
• Supporting launch through an established broker distribution network
• Monitoring GWP, profitability, conversion and portfolio performance
• Using MI and market feedback to continually develop the proposition

What You’ll Have Behind You

You won’t be expected to build the infrastructure yourself.

You’ll have the backing of an established MGA platform, including capacity support, technology and e-trade capability, an established distribution network and wider operational and commercial support.

This allows you to concentrate on developing a technically strong and commercially successful product.

Who We’re Looking For

Your current job title is less important than the depth of your experience. You could currently be a:

Senior Underwriter Development Underwriter Product Underwriter Trading Underwriter Underwriting Manager Product Lead

We’re particularly interested in expertise within:

• Management Liability
• Standalone Liability
• Recycling & Waste risks

You don’t need experience across all three. We’re looking for depth of expertise in your chosen market and the ability to identify where a commercially attractive opportunity exists.

Experience in product development, delegated authority, binders, pricing and rating, policy wordings, e-trade, portfolio management, capacity relationships and using MI to drive underwriting decisions would all be valuable.

You don’t necessarily need to have launched an entire product single-handedly before. What matters is having the technical underwriting capability to own and develop the proposition.

Where Could It Lead?

Success could mean growing the portfolio, developing complementary propositions and ultimately building an underwriting team around your product.

Rewards & Benefits

Salary from circa £90,000 basic, with flexibility for particularly relevant expertise and a compelling proposition.

Benefits are expected to include pension, private medical insurance, death in service, business expenses/company credit card and hybrid/remote working flexibility.

If you can see an opportunity to build a stronger or more commercially attractive proposition within your market, we'd like to hear from you.

You’ll need a clear view of where the opportunity lies and the scope to develop your thinking into a credible business case.