Underwriter

The MDU; Greater London; Hybrid; GBP 60,000 - 90,000; Full time

Job summary

The MDU is expanding its clinical indemnity insurance solutions for the corporate healthcare sector, with a new role for an experienced underwriter. London/Hybrid, full‑time, permanent, under the guidance of the Insurance Director and Underwriting Manager to deliver on the insurance business plan.

The role may include managing underwriters, developing broker relationships, and providing expert underwriting in Lloyd's markets, with opportunities to travel and coach junior colleagues.

Qualifications

• ACII qualification or progression towards it with relevant on‑the‑job training.
• Experience as an insurance underwriter; Lloyd's experience preferred.
• Understanding and experience of product development.
• Basic knowledge of actuarial pricing; ability to liaise with actuaries.
• Understanding of technical underwriting and regulatory rules.

Responsibilities

• Maintaining and developing broker relations in London and non‑London UK markets and Lloyd’s brokers.
• Underwrite new and renewal business within authority and deliver on the Insurance Business Plan.
• Price cases based on underwriting data and risk factors.
• Review renewal information using claims statistics and market data.
• Input and update financial and risk information into MDU systems.
• Represent the organisation at market, client and broker meetings.
• Develop specialist underwriting expertise and coach junior staff.
• Travel nationally to meet role demands; engage in training opportunities.

Skills

ACII qualification

Underwriting

Lloyd's underwriting

Risk assessment

Pricing knowledge

Relationship management

Education

ACII qualification

Degree preferred

Job description

Purpose Of The Job

The MDU is a leading provider of medical malpractice indemnity solutions to proprietorial led companies in the general and specialist medical sectors. This is a new role responsible for the expansion of our business to provide clinical indemnity insurance solutions to the corporate healthcare sector, and in due course to clinicians, predominantly through the indirect (intermediated) distribution route.

The role will require contributing to and delivering on the insurance business plan under the guidance of the Insurance Director and Underwriting Manager and adhering to underwriting authorities.

The role is likely to include management responsibilities of underwriters as we develop the MDU’s insurance business.

London/ Hybrid

Full time, Permanent

Key Accountabilities

• Pipeline Management: Maintaining and developing broker relations; broker liaison with both London and non-London UK markets and Lloyd’s brokers;
• Delivery of the MDU Insurance Business Plan through the underwriting of new (and renewal) business within underwriting authority;
• The consideration and pricing of cases based on subjective analysis of underwriting data and risk characteristics;
• The review and preparation of renewal information for risks based on presentation and claims statistics;
• Oversight of, input and update of financial and risk information into MDU systems.
• Representing the organisation at market/client/broker meetings;
• Awareness of market developments from a technical and personnel perspective;
• Creating, reviewing, updating and agreeing policy wordings/clauses/endorsements;
• Liaising with current and prospective capacity providers and (as necessary) Lloyd’s;
• Representing the organisation by regular attendance at external seminars/conferences/networking opportunities;
• Acting as an underwriting referral point, and coach, for less experienced colleagues
• Being considered as a niche subject matter expert and referral point, internally and externally
• Proactively develop commercially successful relationships through specialist underwriting activity
• Acting as a lead on prospecting/pipelining activity
• Utilising CRM to build long term strategies to target and win new business opportunities.

Qualifications & Experience

• Degree education preferred not essential;
• Has broad, strong market contacts;
• ACII qualified or working towards completion or equivalent experience and training gained on the job;
• Experience as an insurance underwriter (Essential; Lloyds experience preferred.) Demonstrably strong underwriting skills.
• Understanding and experience of product development;
• Basic knowledge of actuarial pricing and being able to liaise with actuaries;
• Understanding of technical underwriting;
• Knowledge of organisational and regulatory rules, policies, procedures.

Core Capabilities

• Is highly self-motivated with the ability to work independently;
• Has strong organisational and time management skills;
• Confidence in presenting to others and representing the company;
• Communicates well both verbally and written;
• Ability to make prompt, appropriate decisions within own underwriting authority in addition to considered, intelligent and complete recommendations to technical underwriting/business leadership;
• Experience in negotiating terms and conditions consistent with underwriting requirements and service;
• Proactive mindset to engage and seek out training opportunities to further develop underwriting expertise.
• Strong relationship management skills built around a disciplined sales management approach
• Ability to demonstrate superior customer service standards (consistency, quick response, knowledge of products) to meet the MDU’s service standards.
• Ability to travel nationally occasionally to meet the demands of the role.