Underwriting Analyst

Canopius Group; Greater London; Hybrid; GBP 45,000 - 70,000; Full time

Benefits offered by this job

Hybrid working

Non-contributory pension

Discretionary bonus

Health and dental insurance

Job summary

Canopius is seeking a numerate, highly capable analyst to assist in underwriting Medical Professional Liability (MPL) business for Syndicate 4444. The role supports pricing and underwriting, with opportunities to develop expertise across MPL processes.

You will work with the Casualty London team, develop the MPL rating model, and produce analyses and dashboards to monitor premiums, profitability and loss data. A clear development path is offered within a hybrid London-based setup.

Qualifications

• Strong numeracy with an excellent academic record.
• Willingness to learn and develop expertise in the insurance market.
• Advanced Excel and/or programming skills with a desire to develop further.
• Strong problem-solving skills and ability to articulate complex ideas clearly.
• Organised work style with clear documentation and audit trails.
• Ability to prioritise tasks and meet deadlines.
• Excellent communication skills.
• Excellent teamwork and initiative.

Responsibilities

• Support MPL underwriting as directed by the MPL team and senior underwriting management.
• Develop and improve the MPL rating model with underwriting and pricing teams.
• Assist in pricing MPL risks for open market and delegated authorities (US and international).
• Harvest and map exposure and loss data to refine pricing and build the loss database.
• Clean and maintain the loss database to enable meaningful analyses and client reports.
• Assemble loss databases for different classes of business to support actuaries.
• Harvest quality and patient safety data for healthcare underwriting.
• Produce reports, ad-hoc analyses and dashboards monitoring premium, rate change and profitability.
• Develop and maintain relationships with brokers to position Canopius as a preferred market.
• Ensure compliance with PRA, FCA, Lloyd’s and Canopius policies and controls.
• Ensure business is placed through approved intermediaries and coverholders.
• Maintain underwriting records reflecting approach and assessment.

Skills

Numeracy

Excel

Programming

Communication

Teamwork

Underwriting knowledge

Documentation & audit trails

Tools

Excel

Job description

The Role

To assist in the underwriting of Medical Professional Liability (“MPL”) business for Syndicate 4444, as directed by the Medical Professional Liability underwriters, to meet the requirements of the business plan, in particular the strategic targets for premium income, profitability and return on capital. Occasionally support other underwriters within the Casualty London team to perform data analysis, portfolio evaluations and ad-hoc projects.

Job Description

The Role

To assist in the underwriting of Medical Professional Liability (“MPL”) business for Syndicate 4444, as directed by the Medical Professional Liability underwriters, to meet the requirements of the business plan, in particular the strategic targets for premium income, profitability and return on capital. Occasionally support other underwriters within the Casualty London team to perform data analysis, portfolio evaluations and ad-hoc projects.

The role will also provide a clear development path, with opportunities to develop and specialise in the various elements of the pricing and underwriting process.

You must have excellent numerical / statistical skills and be a confident communicator, who can convey complex ideas in a concise way.

Key Responsibilities

• To support the underwriting of Medical Professional Liability business as directed by the Medical Professional Liability team and senior underwriting management, in accordance with the Syndicate Business Plan.
• To develop and continue to improve the MPL rating model, through regular interaction with the underwriting and pricing teams.
• To assist the underwriting team in pricing MPL risks for open market and delegated authorities, in the US and internationally.
• To harvest the exposure and loss data received by the MPL team from US and international submissions, mapping it to the rater in order to refine pricing and build the loss database.
• To assist in cleaning and maintaining the loss database, in conjunction with the pricing team, to enable the MPL team to produce meaningful analyses on various topics of interest and reports for the industry as well as individual clients.
• To assist in assembling loss databases for different classes of business (miscellaneous and international) outside of the main US rater, in order to assist the actuaries in producing ILF’s and pricing assumptions.
• To harvest quality and patient safety data to assist in the underwriting of healthcare risks.
• To assist in producing reports, create ad-hoc analyses and dashboards for the team to monitor the premium, rate change, and profitability targets.
• To develop and maintain good working relationships with brokers to establish Canopius as a preferred market for Medical Professional Liability.
• To ensure that the business written is controlled effectively and complies with all relevant regulatory standards including those laid down by the PRA, FCA, and Lloyd‘s.
• To ensure that all business written complies with Canopius internal policies, procedures and controls and that these are understood and adhered to.
• To assist the underwriting team ensuring that business is only accepted through intermediaries and coverholders approved by Canopius in accordance with internal procedures.
• To assist the underwriting team documenting complete and accurate underwriting records to reflect the underwriting approach and assessment.
• To work with others to promote a culture where client’s needs are placed at the heart of underwriting decision-making and business is conducted in a manner that meets Canopius’ internal standards and regulatory guidelines.
• To help the underwriting team ensure that the FCA principle of treating customers fairly (TCF) is applied in those areas of the business within the jobholder’s responsibility.
• Other duties may be assigned.

Skills

• High level of numeracy with an excellent record of academic achievement
• Willingness to learn and develop expertise within the insurance market
• Advanced Excel and/or programming skills and a strong desire to develop these further
• Strong problem-solving skills. Ability to apply existing knowledge to a new problem in order to suggest solutions
• Work in an organised manner, producing clear documentation and audit trails.
• Ability to prioritise work and assess feasibility of deadlines.
• Excellent communication skills
• Excellent teamwork; proactivity and initiative in identifying team’s needs and the appropriate tasks to satisfy them

Our Benefits

We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.

About Canopius

Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.

At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.

Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.

We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.

We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.