SME Underwriting Product Manager

Jobtailor

Greater London

On-site

GBP 70,000 - 110,000

Full time

14 days+

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Job summary

Jobtailor is seeking an experienced Senior Underwriter to lead SME portfolio underwriting in London. You will define appetite, set rules, analyse risk, and negotiate with brokers to maximise profitability and growth.

You will collaborate with product development on coverage and market relevance, provide guidance for referrals, coach the team and roll out training materials. A strong track record in risk management and portfolio performance is essential.

Qualifications

Expert knowledge of products, regulatory environment and local insurance market.
Ability to execute strategic direction across assigned portfolio in partnership with leadership.
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 and lead 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.

Responsibilities

Underwrite and negotiate risks to minimise loss and maximise profitability.
Define, implement and monitor underwriting appetite and rules for new and existing products.
Collaborate with product development on coverage analysis to stay market-relevant and aligned with strategy.
Provide underwriting guidance for referrals and data requirements.
Identify and take corrective action based on portfolio analysis and address knowledge gaps through training.
Manage profitability, growth, and retention across SME portfolios.
Proactively write additional lines of business using knowledge of products and risk characteristics.
Use technology platforms to quote and bind E-Trade risk efficiently.
Lead underwriting reviews and manage action points for portfolios/schemes.
Cultivate relationships with internal partners and brokers to support BI SME goals.
Develop and rollout underwriting training material for SME product trading.

Skills

Underwriting

Risk Management

Product Development

Portfolio Analysis

Market Analysis

Financial Analysis

Negotiation

E-Trade Risk Quoting

Mid Term Adjustments

Regulatory Compliance

Tools

Technology Platforms

E-Trade Systems

Job description

• Implement, define and monitor underwriting appetite & rules for new and existing products in collaboration with US/CAN Select, Europe portfolio managers and Europe UW office.
• Work with product development on coverage analysis in new or optimisation of products to be market relevant and in line with our underwriting strategy.
• Ensure the appropriate use of ‘input’ data, third party data and SoF to select and manage risks in a eTrade model that is in line with our target risk selection strategy.
• Provide UW guidance for referral handling within the team – what info to collect, risk management approaches to use.
• Identify and take corrective action based on portfolio analysis across SME, ensuring rules are working as expected and that any knowledge or behavioural gaps are addressed through communication, coaching and training.
• Manage the profitability, growth, and retention across the portfolio ensuring the underwriting quality is maintained.
• Underwrite and skillfully negotiate risks to minimise risk and maximise profitability, including Mid Term Adjustments (MTAs).
• Proactively manages SME portfolio, ensuring key performance indicators are consistently achieved and you actively target new business and retention.
• 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 E-Trade 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 to ensure they have an appropriate understanding of BI SME products and the BI SME goals and objectives.
• Develop and rollout UW training material to support SME product trading as a result of new products, product optimisation, UW strategies developed with the product portfolio owner and national UW officers.
• Support and collaboration across SME, providing coaching and guidance, including referrals.
• Perform other duties as assigned.

Requirements

Expert knowledge of products, the regulatory environment, and the local insurance market.
Ability to execute strategic direction across assigned portfolio in partnership with leadership.
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 and lead 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.

Core Competencies

Demonstrates expert knowledge of underwriting principles, product development, and risk management strategies within the insurance market. Proven ability to lead teams, negotiate effectively, and analyze portfolio performance to drive profitability and growth.

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