Senior Underwriter, Power & Renewables

Energy Vault; London; On-site; GBP 60,000 - 85,000; Full time

Job summary

A reputable insurance company is seeking an experienced underwriter in Power & Renewables. Candidates should have a minimum of 10 years of underwriting experience and a strong focus on customer service. Responsibilities include profitable underwriting, client negotiations, and ensuring compliance with regulations. The role demands excellent attention to detail and the ability to manage high volumes of work under pressure.

Qualifications

• Minimum of 10 years of underwriting or related experience in Power & Renewables.
• Strong attention to detail and accuracy in data management.
• Ability to manage high volumes during busy periods.

Responsibilities

• Underwrite new business profitably and accurately.
• Negotiate favorable terms with brokers and clients.
• Ensure compliance with regulatory and statutory requirements.

Skills

Underwriting experience in the insurance industry

Customer service skills

Attention to detail

Interpersonal skills

Team player

Education

CII qualified

Job description

Job Summary

To review applications for Power & Renewables (Re)insurance cover received by IGIUK Ltd, determining and evaluating the nature and extent of the risk involved, maximising profit generated by the arrangement, whilst minimising the risk exposure to the business.

Job Description

Company Description

IGI - International General Insurance Co. Ltd. is a leading international specialist commercial insurer and reinsurer with a global portfolio ofEnergy, Property, Construction & Engineering, Ports & Terminals, Marine, Financial Institutions, General Aviation, Professional Indemnity, Casualty, Directors’ and Officers’, Legal Expenses, Political Violence, Contingency and Treaty Reinsurance. Registered inBermuda as a limited liability company, withoperational headquarters in Amman, Jordan and offices in London, Malta, Bermuda, Norway, Dubai, Kuala Lumpur and Casablanca, we aim to deliver outstanding levels of service to our clients and brokers. The company has a strong financial position, with a financial strength rating of "A-"(Stable)from Standard and Poor's, and an"A" (Stable)rating from A.M. Best. IGI seeks to maintain profitability through prudent risk selection and a diversified business model.

Key Responsibilities

• Underwriting new business profitably and accurately, reviewing and analyzing (Re)insurance proposals received by IGIUK in order to determine what degree of risk, if any, to accept on the business’s behalf, by reference to relevant, up to date market information, statistics and specialist data.
• Negotiating the most favorable terms with brokers and clients, ensuring that IGIUK’s income is maximized whilst its risk exposure is minimized.
• Ensuring that all decisions regarding the insurance terms to be offered to clients are made in accordance with IGIUK’s documented Underwriting procedures and individual UW guidelines.
• Liaising regularly with the IGI Group support and production teams based in Malta, Jordan, KL, Dubai, Casablanca and other offices, to ensure that procedures and process are operating as required and in a consistent manner.
• Undertaking regular peer reviews in accordance with IGIUK’s internal standards and requirements.
• Ensuring that individual responsibilities and accountabilities are carried out in line with regulatory and statutory requirements, particularly those relating to FCA’s principles covering Treating Customers Fairly and the general safeguards aimed at preventing financial crime.
• Work with the Amman team to ensure signoff summary sheets are correct.
• Manage PPL entries for the IGI UK stamp.
• Maintain and develop where required all aspects of client relationship management and third-party service providers.
• Actively manage and grow broker relationships both in the UK and overseas.
• Ensure excellent service is provided to brokers including prompt and efficient turnaround timescales and the correct management of broker expectations.
• Responsible, under guidance of the Class Underwriter, for balancing a growth in volume without losing profitability across the line of business.
• Assist in the production of the class Business Plan.
• Assist in the implementation of new products/opportunities.
• Liaising regularly with the IGI Group Underwriting, Actuarial, Legal & Compliance and Administrative teams to ensure procedures and process are operating as required and in a consistent and correct manner.
• Work on marketing materials with IGI Marketing Team.
• Ensure an appropriate level of personal specialist knowledge and competence is maintained through a defined programme of training and continuing professional development as determined by prevailing regulatory requirements and internal standards.
• Understands and behaves in accordance with the regulators Conduct Rules.
• Understands, and at all times, conducts work and oneself in line with the corporate values.

Key Attributes & Professional Qualifications

• A minimum of 10 years’ underwriting or related experience in the insurance industry within Power & Renewables lines of business
• A keen interest in own self professional development. Will need to be CII qualified, as well as regularly attending training events to continue their own professional development.
• General computer literacy (excel, word, powerpoint etc)
• Strong team player who is also able to work on own initiative within authority limits.
• Excellent attention to detail in order to maintain accuracy of data and file records.
• Customer focused, providing excellent customer service skills both internally to the team, as well as externally, with brokers.
• The candidate needs to be a self-starter, who can manage high volumes during busy periods, has the ability to take and execute instructions and meet deadlines. Must work well under pressure and be able to priorities tasks, especially during busy periods.
• Excellent Interpersonal skills: active listener, purposeful communication, confident interaction, and ability to work within a team.