Senior Underwriter

Bell&Clements; London; Hybrid; GBP 45,000 - 60,000; Full time

Job summary

A prominent role is open for an Underwriter in the B&C Managed Underwriting department. The position involves underwriting various US property insurance portfolios, ensuring compliance with guidelines, and fostering relationships with clients. With a focus on innovation and strategic development, this role also offers hybrid working options and robust benefits for personal and professional growth.

Benefits

Private medical insurance

Digital GP service

Annual wellbeing allowance

Flexible working hours

Professional qualification support

Gender-neutral family leave policy

Qualifications

• Proven experience underwriting US property insurance.
• Strong analytical skills with data interpretation.
• Experience in Commercial Property is preferred.

Responsibilities

• Underwrite and analyse exposure, premium, and claims data.
• Develop and maintain strong business relationships.
• Produce reports and oversee underwriting activities.

Skills

Analytical mindset

Communication

Team player

Decision-making

Education

Professional qualification in insurance

Tools

RMS Risklink

AIR Touchstone

Job description

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To assume a prominent role in all aspects of the management of the B&C Managed Underwriting department. This includes shared oversight of a substantial portfolio of US Binding Authority business comprising multiple lines of business and catastrophic perils, management of budget and prudent deployment of Nat Cat aggregate, development of new and existing business relationships, conducting regular underwriting reviews, and detailed analysis and internal reporting on the underwriting results of managed business.

Responsibilities

• To underwrite B&C Managed Underwriting business in accordance with applicable underwriting authority, underwriting guidelines, internal directives, targets and client strategies.
• To underwrite and critically analyse exposure, premium and claims data to evaluate and optimise contract and portfolio performance.
• To take an active involvement in the development and execution of B&C’s strategic initiatives.
• To play a prominent role in developing and overseeing new and existing business relationships.
• To develop innovative insurance solutions and products in addition to conventional covers in close co-operation with other business units.
• To produce reports for the B&C Underwriting Committee, Quarterly Business Reviews, and other committees as required.
• To oversee the activities of Underwriters as required.
• To assist in the process of Nat Cat budget allocation, and Cat scenario aggregate deployment.
• To embrace and actively implement the core principles of Continuous Conversations (Commitments, Feedback and Development) as part of daily activities and with other colleagues.
• Take ownership of and make personal and professional development a priority as part of Continuous Conversations.
• In line with Continuous Conversations, establish and achieve development aspirations and needs through the setting of commitments and giving and receiving frequent, constructive feedback (referring to resources provided for support).

Key Skills and Experience

• Proven professional experience underwriting either facultative or delegated US property insurance.
• Experience in Commercial Property - preferred.
• Strong verbal and written communication skills and experience developing and maintaining strong client relationships. Experience liaising directly with Coverholders – desirable.
• A good team player with the ability to co-ordinate the needs of multiple stakeholders concurrently.
• A self-starter with the ability and confidence to make real time decisions.
• Need to have an analytical mindset and previous experience in an analytical role.
• A comprehensive understanding of standard insurance terminology, coverages and metrics.
• Experience in critically evaluating and analysing exposure data.
• Experience interpreting RMS modelling results – preferable.
• Experience using RMS Risklink/AIR Touchstone – desirable.
• This position is offered on a Permanent basis.
• Annual salary will be dependent on the skills and experience of the successful candidate.
• Annual leave - 25 days per year (plus bank holidays), increases with length of service.
• Health & Wellbeing – our offering includes private medical insurance for employees, their partners and their families, a Digital GP service and an annual allowance (currently £550) any activities which supports health and wellbeing.
• Hybrid and remote working – to support your work balance we have introduced hybrid working. You will be provided with support to work from home up to a maximum of three days per week.
• Flexible working hours – the opportunity to flex your working hours.
• Generous gender-neutral family leave policy - employees with 26 weeks’ continuous service at the Expected Week of Childbirth are eligible to receive 26 weeks full pay.
• Professional Qualification Support – (discretionary) financial support covering the cost of professional qualifications, including institute membership, exams, study materials and completion bonuses.
• Generous gender-neutral family leave policy - employees with 26 weeks’ continuous service at the Expected Week of Childbirth are eligible to receive 26 weeks full pay.
• Warm and social culture with regular get togethers.

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!