Underwriter - Property Binders

Vallum Associates; London; Hybrid; GBP 55,000 - 85,000; Full time

Job summary

A leading company in the insurance sector is looking for a Market Underwriter to join the Property Binders team. This position will involve managing international property risks, forming vital relationships with brokers and clients, and driving business strategies within an agile work environment. The ideal candidate should have significant experience in the insurance industry and possess strong analytical and negotiation skills.

Qualifications

• Thorough understanding of class-specific underwriting and reinsurance.
• Intermediate/advanced software skills including Excel.
• Strong established customer and broker relationships.

Responsibilities

• Support the annual business plan for underwriting division.
• Underwrite insurance risks to meet business objectives.
• Establish and strengthen relationships with brokers and partners.

Skills

Knowledge of market conditions for P&C Binders

Legal and regulatory requirements knowledge

Analytical skills

Negotiation skills

Interpersonal skills

Data analysis for decision making

Education

Significant experience in the insurance industry

Tools

Excel

Job description

Job description

About the Role:

• An opportunity to join the market leading and hugely experienced Property Binders team within Lloyds.

• Exposure to a broad spread of Property risks across International property classes, with a key focus on Canadian business.

• Look to maintain and build relationships with brokers, clients and business partners in order to renew and acquire new business for the portfolio.

• Drive team strategy and planning in short and medium term including oversight of elements of business planning process
  

About the Department & Team:

• A market-leading team with extensive experience in the Property Binders world

• Binder portfolio of US & International property business which has been developed over many years thanks to the strong relationships built by the current senior leadership of the team

• Sitting in the Delegated Practice Group within the Specialty Binders division made up of underwriting, governance and management into a single centre of excellence.

• Agile work environment – office and homeworking

Key Responsibilities:

Strategy and Planning

• Support the development of the annual business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances.

• Ensure the team’s awareness of the business plan and its context so that they are able to take appropriate action and make informed decisions.

• Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice.

• Contribute new ideas and concepts to support the development and delivery of the business plan.

Delivery

• Establish and strengthen relationships with brokers, industry bodies, business partners, reinsurers and colleagues, to maximise influence and achieve business objectives.

• Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance.

• Continually develop expertise and technical knowledge through appropriate development initiatives.

• Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including Negotiating rates, terms and conditions for existing and new business.

• Compliance with the production and issue of documentation in accordance with contract certainty requirements.

• Contribute and influence in the review and analysis of the portfolio, to identify progress towards business objectives.

• Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures.

Policy, Process and Procedures

• Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance.

• Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk.

• Apply any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan
  

Skills and Experience:

• Knowledge of market conditions for P&C Binders

• Knowledge of legal and regulatory requirements

• Thorough understanding of class specific underwriting and reinsurance knowledge

• Intermediate / advanced level understanding of relevant software including Excel and other departmental software packages

• Strong interpersonal and communication skills

• Excellent analytical and negotiation skills

• Ability to analyse and use data for decision making

• Significant experience gained within the insurance industry

• Use of risk profiling and pricing tools and loss models

• Strong established customer/broker relationships