Senior Underwriter, Business Insurance

The Travelers; Birmingham; Hybrid; GBP 50,000 - 80,000; Full time

Benefits offered by this job

Hybrid work arrangements policy

Job summary

The Travelers in the United Kingdom is seeking a skilled underwriter to manage a portfolio of moderate to complex accounts. You will underwrite, negotiate terms with brokers and drive profitability while growing book of business across our Commercial and Corporate solutions.

You will mentor junior team members, lead underwriting reviews, and collaborate with sales to retain and win new business in a hybrid work environment. Travel to meetings is required.

Qualifications

• Extensive underwriting experience with moderate to complex risks.
• Strong risk analysis and financial assessment capabilities.
• Experience managing an assigned portfolio and targeting growth.
• Proven negotiation skills with brokers to drive profitability.
• Experience coaching and mentoring junior staff.
• Excellent communication across internal teams and brokers.

Responsibilities

• Manage profitability, growth and retention of an assigned book across products.
• Underwrite and negotiate moderate to complex risks to maximise profitability.
• Actively manage your portfolio and pursue new business and retention.
• Identify risk characteristics and take corrective actions in portfolio management.
• Write additional lines of business using product knowledge and appetite.
• Utilise technology platforms to quote and bind risk efficiently.
• Lead underwriting reviews for policies or portfolios and track actions.
• Maintain broker relationships and travel as required to meetings.
• Collaborate with sales to execute retention plans and win new business.

Skills

Underwriting

Risk analysis

Portfolio management

Negotiation with brokers

Mentoring

Communication skills

Education

A Levels or similar qualification

Job description

What Is the Opportunity? Business Insurance helps companies in the UK and Ireland identify, prepare for and mitigate risks by offering a broad array of industry-specific, combined property and casualty insurance solutions to customers. This includes SME solutions traded directly, Commercial Accounts traded via brokers, and Corporate Solutions to FTSE 350 Risk Managed companies. You will proactively manage the submissions, quotes and binds for new business/or renewals to deliver against target quote and conversion ratios. You will strategically partner with brokers to provide insurance solutions to customers. You will analyse and evaluate risk to achieve business goals within an assigned portfolio. You are decisive, detail-oriented, and know how to build relationships internally and externally and negotiate terms to drive results. Your ability to independently assess moderately complex risks, negotiate terms, and sell our products in challenging markets will contribute to the sustainable profitability and success of Travelers.

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 primarily comprised of moderate to complex accounts across all our products.
• Underwrite and skillfully negotiate moderate to complex 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 based on individual risk characteristics identified through Portfolio Management to actively manage your portfolio of risks.
• 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 risk efficiently.
• Prepare, lead and present Underwriting Reviews for individual policies or portfolios/schemes 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. Must be able to travel to meetings.
• Develop and execute retention plans and support the new business teams to win business that align with the team's sales plans to drive success working in partnership with the sales team.
• 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?

• A Levels or similar qualification.
• Deep knowledge of products, the regulatory environment, and the local insurance market.
• Strong 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.
• Excellent communication skills with the ability to successfully negotiate in difficult situations with brokers.
• 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.
• Experience coaching and mentoring others.
• Review competitor press releases and industry trade press for helpful insights, linking key themes together and identifying applicability to team strategies.
• Participate in and/or lead projects that involves complex analysis and implementation of non-complex, routine business and regulatory changes relating to the enhancement, maintenance or introduction of new products.

What is a Must Have?

• Strong experience of underwriting, product knowledge, financial analysis, or risk assessment experie

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.