Senior Underwriter - Commercial

ERS; Greater London; On-site; GBP 50,000 - 80,000; Full time

Benefits offered by this job

First class training and development opportunities

Inclusive work environment

Job summary

ERS is looking for a Senior Underwriter to support our strategy of being the UK's leading specialist motor insurer. The role involves executing underwriting strategies, collaborating with key stakeholders, and improving product performance and profitability.

The ideal candidate will have strong technical knowledge of products, analytical skills with Excel, and extensive commercial awareness. You'll lead strategy development and support performance improvement initiatives while maintaining relationships with brokers and internal teams.

Qualifications

• Ability to track portfolio and pricing metrics.
• Extensive technical knowledge of insurance products.
• Analytical mindset with Excel skills.
• Commercial awareness to enhance financial performance.
• Experience in sophisticated underwriting environments.

Responsibilities

• Support Commercial Lines Class Head and Product Managers.
• Define and track metrics for product performance.
• Integrate market intelligence into product strategy.
• Lead underwriting strategy development.
• Provide input to refine underwriting appetite.

Skills

Collaborative teamwork

Technical product knowledge

Data analysis

Effective communication

Commercial awareness

Interpersonal skills

Tools

Microsoft Excel

Microsoft PowerPoint

Job description

ERS Syndicate 218 at Lloyds is managed by Starr. We are the UK’s largest specialist motor insurer with an A+ rating and have been making motoring passions and livelihoods possible since 1946. We work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.

Starr is a global insurance and investment organisation providing property and casualty insurance solutions to business and industry. Starr has grown into one of the world’s fastest‑expanding insurance organisations, writing business in 128 countries across six continents. Our talented and experienced associates manage risk and ultimately support the profitable growth of organisations in a dynamic, competitive and ever-changing marketplace. Join us and become part of our talented and passionate workforce.

Role Purpose

ERS is a leading underwriter of a wide range of specialist motor insurance products. Within ERS’ strategy of being the UKs leading specialist motor insurer, our focus is on delivering sustainable, high margin growth through the provision of quality propositions to a wide range of broker partners.

The Senior Underwriter’s primary responsibilities are for the execution of our underwriting strategy and development of our underwriting appetite, working closely with the Commercial Lines Class Head and Product Manager(s).

Key responsibilities

We are looking for a candidate to support the Commercial Lines Class Head and Product Manager(s). The primary responsibilities for this role are

• Working with key stakeholders to shape and grow the portfolio ensuring our strategy supports delivery of the financial plan
• Ability to define, measure and track portfolio and pricing metrics to evaluate product performance and support the Class Product Manager(s) to implement strategies that improve profitability and support business objectives
• Ability to integrate external market intelligence into product strategy ensuring our offering remains competitive, commercially viable and aligned with business objectives
• Identify trends and evaluate conclusions using up to date data analytical methods and technology
• Leading the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise whilst being responsible for executing the underwriting strategy through working with the product delivery team.
• Contributing to the management of portfolio performance through the analysis of results, execution of our selection and pricing strategies and providing recommendations that will drive continuous performance improvement, thus ensuring that we will meet or exceed our financial plans.
• Working alongside the Product Performance Analysts within the team, providing them with direction and support to improve their knowledge and utilising their skills to support the delivery of our strategic goals.
• Providing input to constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix.
• Acting as a point of technical referral from other members of the underwriting team, brokers, and other internal functions, using your extensive risk, product and pricing knowledge to inform appropriate decisions in respect of those referrals.
• Provide feedback to Product Managers & Heads of Class and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing.
• Providing substantial contribution to our “first line of defence” activities, using audit and peer-review tools, complimented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure that all business is being written in accordance with our stated underwriting authorities, agreed processes and in compliance with our regulatory and conduct standards.

The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.

Essential qualifications, skills and experience

This role carries strategic input and financial responsibility as well as being recognised as a market leading subject matter expert in our product(s). We therefore require our role‑holders to demonstrate leadership and management capabilities and to possess the following skills, attributes and knowledge:

• The ability to collaborate with a talented team of people towards the achievement of a set of challenging financial targets.
• Possessing extensive technical knowledge of the product(s), including the features of the product, factors that drive product performance, market dynamics which influence how the product is delivered and the requirements of customers using the product(s).
• An analytical mindset with comprehensive skills using Microsoft Excel within your role.
• To demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally.
• The ability to produce coherent and comprehensive Microsoft PowerPoint presentations to be presented at various committees, including senior stakeholders, both internally and externally.
• Extensive commercial awareness, being able to spot and take advantage of opportunities and to fulfil their role in a way which enhances our financial performance.
• Detailed understanding of pricing practices and methodologies with the ability and experience to help us constantly enhance our pricing capability, providing insight and feedback on our pricing models
• Interpersonal skills which will allow you to build and maintain value‑adding relationships. You must be able to articulate what a mutually beneficial relationship looks like and be comfortable having difficult conversations with business‑partners and colleagues.
• Extensive knowledge of and experience in a sophisticated underwriting control environment which allows us to execute ‘first line of defence’ activity, with a focus on constant performance improvement.

Desirable behavioural attributes

• Analysis and decision making
• Innovation and problem solving
• Strategic perspective
• Commerciality
• Performance focus
• Communication and influence
• Development of self and others

Starr is an equal opportunity employer, which means we will consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.