Underwriter - Energy

Chaucer Underwriting Services Limited; London; On-site; GBP 40,000 - 70,000; Full time

Job summary

Join a leading insurance group as part of the Natural Resources Underwriting team in London. You will be responsible for underwriting risks, developing client relationships, and enhancing pricing methodologies. The role emphasizes teamwork, strong analytical skills, and proactive client engagement.

Qualifications

• Experience in underwriting with knowledge of risk assessments.
• Ability to utilize pricing models for premium calculations.
• Strong analytical skills and effective communication.

Responsibilities

• Review and underwrite new and renewal risks as per authority.
• Utilize pricing models and assist with new pricing tools.
• Monitor risk exposures and prepare required reports.

Skills

Microsoft Office

Excel - Intermediate

Analytical

Flexible and adaptable

Excellent organisational skills

Team player

Effective communication skills

Education

ACII or working towards

Job description

Be an active / proactive member in the Natural Resources Underwriting team as part of the Energy Division, underwriting Upstream and Midstream business and developing / maintaining business relationships with brokers and clients (as well as within Chaucer) to help the team deliver on their business plans.

Job Description

Review and underwrite new and renewal risks and associated endorsements in accordance with underwriting authority

Utilise pricing models to generate risk assessments and premium calculations, review and validate model outputs to ensure accuracy in pricing recommendations, interpret pricing model results and make necessary adjustments. Assist in the development and enhancement of new pricing tools and methodologies.

Monitor risk exposures and assist in PML analyses in conjunction with the modelling / aggregation team

Monitor risks written and due for renewal.

Prepare reports and statistical information as may be required

Use and assist with the developments and enhancements of underwriting systems where such developments and enhancements are required, e.g.: new and / or enhanced benchmarking models, etc.

Liaise with brokers and develop good working relationships with broking and support teams.

Liaise with other business areas within Chaucer as required including claims, underwriting risk review, actuarial etc. As required

Use market, industrial and other sources to enhance awareness of technical factors and developments relevant to portfolio underwriting and the oil & gas industry generally.

Attend client or other market risk presentations and market body meetings as and when required.

Regulatory Responsibilities

Manage the relationships with Customers, Agents and Service Providers:

Advise, assist and service customers on insurance and risk matters to promote customers’ satisfaction;

Foster positive relationships with Customers and attain an understanding of their needs;

Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate; and,

Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers.

Complete all required annual product review assessments to agreed timescales with approvals obtained and recorded

Follow all Chaucer Group Product Governance processes in the UCM and obtain appropriate approvals

Skills and Competencies

Microsoft Office, Excel - Intermediate

Analytical

Flexible and adaptable

Excellent organisational skills

Team player

Effective communication skills at all levels

Education

ACII or working towards

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).

A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.

We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.