Underwriter –Specialty Professions

Beazley; City Of London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading insurance firm in London is seeking an Underwriter for Specialty Professions. The role involves developing a profitable portfolio, advising clients, and maintaining strong broker relationships. Ideal candidates will have relevant underwriting experience and strong analytical skills. This position offers competitive compensation and the opportunity to make a significant impact in a reputable company.

Qualifications

• Experience of underwriting or broking for Specialty Professions.
• General commercial and financial knowledge is essential.
• Client service experience is preferred.

Responsibilities

• Develop and underwrite a profitable portfolio of Specialty Professions.
• Advise clients on insurance and risk matters.
• Maintain relationships with brokers and clients.
• Monitor premiums, costs, and claims ratios.

Skills

Proficient underwriting skills

Strong analytical skills with attention to detail

Able to communicate effectively

Motivational skills

Education

Experience in insurance industry

Knowledge of underwriting policy

Job description

Job Title

Underwriter – Specialty Professions

Specialty Risks

Specialty Risks

Key Relationships

Brokers, underwriters, claims, wordings, insureds, external clients and suppliers

Job Summary

To underwrite a Specialty Professions account within Specialty Risks and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.

Key Responsibilities

Underwriting

• Develop and underwrite a profitable portfolio of Specialty Professions business as part of Specialty Risks
• Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
• Manage innovation and development of non-insurance service offerings to insureds and others.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the [Specialty Professions]
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks
• Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley’s subsidiaries or internal MGAs.
• Develop a good working relationship with the claims managers on this class of business.

Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
• Maintenance ofgood business relationships with brokers.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

General

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
• Develop best practice and disseminate business and class knowledge within Specialty Professions and Specialty Risks.
• Work with peers within the Specialty Professions and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
• Production of presentations and marketing literature as required.
• Production of business plans/research documents for the Specialty Professions account as required.

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values – Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification

Skills & Abilities

• Proficient underwriting skills
• Accurate and numerate
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Ability to manage time, meet deadlines and prioritise
• Motivational skills

Knowledge & Experience

• General commercial and financial knowledge
• Experience in insurance industry
• Experience of [Specialty Professions] underwriting or broking
• Thorough knowledge of underwriting policy, philosophy and practice
• Advanced knowledge of underwriting processes and systems
• Client service experience

Aptitude & Disposition

• Result focused, self-motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker as well as able to work on own initiative
• Customer focused, with a strong ethic of service and fairness to the customer

Competencies

• Achievement drive
• Analytical thinking
• Strategic thinking
• Service focus
• Team working
• Conceptual thinking
• Forward thinking