Underwriter - Bespoke

IQUW Group; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A specialist insurance firm in London is seeking an Underwriter to manage medium to complex risks and develop strong broker relationships. This role requires technical expertise and commercial awareness, with a focus on optimizing product performance. Competitive salary and benefits are offered, alongside a dynamic work environment.

Benefits

Competitive Benchmarked Salary

25 days holiday

Discretionary bonus scheme

Employee assistance programme

Annual holiday buy (up to 3 extra days)

Salary sacrifice benefits

Annual benefits reviews

Professional qualifications and study support

Qualifications

• Understanding of underwriting strategy and risk appetites.
• Ability to operate within these parameters.
• Skills to optimize financial performance in a competitive market.

Responsibilities

• Contribute to the execution of the underwriting strategy.
• Manage portfolio performance through results analysis.
• Support employee development through training.

Skills

Underwriting, risk selection and pricing skills

Extensive technical knowledge of the product(s)

Commercial awareness

Job description

Overview

About us

IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why 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.

The role

The Underwriter’s primary responsibility is to write a range of medium to complex risks within the products risk appetite and within own individual underwriting authority. You will also act as a referral point for team members with a lower level of authority helping to develop their technical knowledge and understanding.

The role is market visible which will see you working closely with our broker partners and forming solid trading relationships, these relationships will help IQUW achieve their short- and long-term financial plans by seeking to broaden our market penetration.

Success in the role requires technical expertise in our product(s) and frequent collaboration with other business functions to ensure that we leverage capabilities from across the business in delivering first class propositions to our chosen market.

Key responsibilities

• Contributing to the execution of the underwriting strategy for the Class of Business, working within the agreed risk appetite and own individual authority to process quotes, renewals, Mid-term adjustments and cancellations.
• Providing input to the development of our underwriting appetite for our product(s) based on your market knowledge and product expertise to take advantage of market opportunities.

• Assisting in the management of portfolio performance through the analysis of results and the ability to make recommendations which will drive continuous performance improvement.

• Work with the operational leadership team & technical training team to help identify training needs and support employee development through feedback, coaching and training to improve team competency and performance
• Act as our first line of defence. Understand and adhere to the zero- tolerance fraud strategy by identifying and referring potentially fraudulent activity to the Policy Validation Unit within the required timeframe.
• Having significant awareness of and ensuring adherence to all regulatory requirements, guidelines and working practices – both internally and externally.
• Understand and adhere to the complaint handling process, attempting to resolve complaints informally whenever possible and referring any unresolved complaints to the escalation point or Customer Relations within the specified time- frame.
• Support and actively demonstrate through behaviours, interactions and appearance, the high-performance culture IQUW aspires to develop.

• Achieve personal performance targets and work collaboratively with others to deliver against our combined key metrics, business objectives and strategy.

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.

Qualifications, Skills & Experience

This role carries financial responsibility as well as being recognized as a subject matter expert in your product(s). We therefore require our role holders to demonstrate technical expertise and to use commercial judgment in the fulfilment of their role. We expect our people to demonstrate the following skills, attributes and knowledge:

• An understanding of underwriting strategy and risk appetites and ability to operate within these.
• 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)

• Underwriting, risk selection and pricing skills which will ensure that we optimize the financial performance of a range of product propositions in a complex and competitive market.
• Good commercial awareness that allows you to identify and take advantage of market opportunities.

Benefits

• Competitive Benchmarked Salary
• 25 days holiday
• Discretionary bonus scheme
• Employee assistance programme
• Annual holiday buy (up to 3 extra days)
• Salary sacrifice benefits
• Annual benefits reviews
• The option for professional qualifications and study support

Additional information

• A full job description can be seenhere.

#ERSLI