Underwriter - Hull & Machinery

The Shipowners Club; Greater London; Hybrid; GBP 55,000 - 75,000; Full time

Job summary

The Shipowners Club is seeking a Hull & Machinery Underwriter to join Waterborne on a permanent basis. You will underwrite a profitable Hull & Machinery portfolio and support the Club’s P&I team to offer a single home for marine insurance needs.

Hybrid working model with at least 2 days in the office after probation. You will work closely with P&I underwriters and play a key part in client and broker relationships while embracing digital tools and AI to streamline underwriting.

Qualifications

• Experience with Hull & Machinery policy forms and market clauses.
• Ability to assess risk and interpret slip and policy wording accurately.
• Technical competence across Hull & Machinery and related marine covers.
• Strong negotiation and client/broker relationship skills.

Responsibilities

• Underwrite a profitable Hull & Machinery and related marine portfolio.
• Operate within delegated underwriting authority and follow processes.
• Provide prompt, accurate policy documentation and high service levels to clients and brokers.
• Build and maintain relationships with clients and brokers to retain and grow business.
• Identify opportunities for profitable new business in line with risk appetite.
• Collaborate with P&I underwriters to offer combined marine insurance solutions.

Skills

Hull & Machinery

Underwriting

Risk assessment

Negotiation

Job description

Waterborne is the Lloyd’s Hull & Machinery managing general agency (MGA) within the Shipowners group. The Shipowners’ Club is a mutual insurance association that has been providing Protection & Indemnity (P&I), Legal Costs Cover and associated insurances to smaller and specialist vessel owners, operators and charterers around the world for over 170 years. Waterborne adds Hull & Machinery to that offering, so clients and their brokers can place their marine covers in one place.

We are now seeking a Hull & Machinery Underwriter to join Waterborne on a permanent basis. You will work alongside the Shipowners’ Club’s P&I Underwriting team, playing a key part in our one stop shop proposition for clients and brokers. The successful candidate will be enthusiastic and a quick learner with a desire to develop in a friendly and supportive environment. This is a great opportunity to join a growing team whilst building on your Hull & Machinery underwriting experience.

We also have a hybrid working model (minimum 2 days in the office - after probation).

We recognise the business benefits of having a diverse and inclusive community. We all have something unique to bring to the table and by embracing those differences we seek to build and maintain an environment which attracts and values diversity and where everyone can develop their talents and be themselves. For us, diversity and inclusion goes above and beyond focusing on protected characteristics - we want all our colleagues to bring 100% of themselves to work. With a happy and engaged workforce we all strive to work together to be the best that we can be for our clients, our Members and each other.

Overall Responsibility of the Role

As our Hull & Machinery Underwriter, you will underwrite a profitable portfolio of Hull & Machinery and associated marine business on behalf of Waterborne. You will provide physical damage and related cover that meets the operational needs of our clients, while supporting the continued growth and development of the account. Wo rking closely with the Club’s P&I underwriters, you will help us offer clients a single home for their marine insurance needs.

Role Responsibilities

• Assess and price risk accurately, in line with our underwriting guidelines, appetite and delegated authority.
• Operate within your delegated underwriting authority and follow our agreed underwriting and referral processes.
• Deliver a consistently high level of service to clients and brokers, including prompt and accurate policy documentation.
• Build and maintain strong relationships with clients and brokers to retain and grow a profitable portfolio.
• Identify, attract and develop profitable new business opportunities in line with our business plan and risk appetite.
• Work closely with the Club’s P&I underwriters to identify opportunities to offer clients combined Hull & Machinery and P&I solutions.
• Monitor and analyse portfolio performance, highlighting and addressing any areas of concern.
• Ensure risks, and underwriting and exposure data, are accurately and promptly recorded on our systems.
• Share your knowledge and experience with colleagues across Waterborne and the wider Shipowners group.
• Look for opportunities to automate and streamline underwriting, administration and reporting tasks.

Experience Required

You will bring proven Hull & Machinery underwriting experience, along with:

• Good knowledge of standard Hull & Machinery policy forms and market clauses (including Institute and International Hull Clauses) and associated covers, and an understanding of their structures.
• Comprehensive knowledge of the factors involved in risk assessment, and the confidence to analyse a placement, slip and policy wording with accuracy.
• Technical competence across Hull & Machinery and associated marine covers, including increased value, loss of hire, war and related lines.
• Strong negotiation and relationship building skills, with the confidence to represent Waterborne in new business opportunities and nurture client and broker relationships.
• Good working knowledge of the Lloyd’s and company markets, delegated authority arrangements and reinsurance programmes.
• Confident use of relevant underwriting, pricing and CRM systems.
• A continuous improvement mindset, with an interest in how digital tools, Artificial Intelligence (AI), data and automation can support and enhance underwriting.

Candidates must be eligible to work in the UK.

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