Underwriting Assistant

Munich Re; Greater London; On-site; GBP 30,000 - 40,000; Full time

Job summary

A renowned insurance provider is looking for an Underwriting Assistant in London to assist with various administrative tasks including document management and data entry into the S2000 system. The role entails supporting underwriting teams by ensuring compliance with regulations and company procedures. Candidates should have a basic understanding of insurance principles and a willingness to learn. This position offers a fixed-term contract for 8 months with various employee benefits including 25 days annual leave and flexible working options.

Benefits

25 days Annual Leave + Bank Holidays

10% Non-contributory Pension

Eligibility for an Annual Bonus

Private Medical + Dental Insurance

Wellbeing and Development Scheme

Hybrid Working

Qualifications

• Demonstrate a clear understanding of company-specific procedures.
• Willingness to develop knowledge of policies through learning.

Responsibilities

• Enter data into S2000 underwriting system.
• Manage and save documents and documents.
• Support credit control and aged debt management.
• Ensure compliance with company procedures.

Skills

Basic knowledge of Underlying Principles of Insurance

Understanding of Legal Principles

Familiarity with PRA/FCA regulations

Awareness of Lloyd's regulations

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Please see our website for more information.

Underwriting Assistant

We are currently looking for an Underwriting Assistant to work with us on a Fixed Term Contract for 8 months based in London, reporting into the Head of Underwriting Delivery.

You will provide accurate, timely and high-quality non-regulated services to various Underwriting Teams, demonstrating care for customers and respect for the obligations of the Company and the Syndicate.

Responsibilities

• Entering data into the in-house S2000 underwriting system, pricing tools and other administration systems as required.
• Scanning and photocopying of documents, as required.
• Management and saving of documents.
• Support the clearing list and accumulation control process, as required.
• Support the Contract Certainty (CC) process, including completing the CC checklist, when requested.
• Managing/monitoring electronic placing documentation on platforms such as PPL and Whitespace.
• Reviewing and managing exception reports on a weekly basis.
• Reviewing and posting daily premium closing messages in S2000.
• Assist in managing credit control and aged debt.
• Maintaining renewal lists.
• Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals.
• Attend relevant meetings within the company.
• Taking minutes of meetings and any other administrative tasks, as and when required.
• Providing support in respect of new projects or initiatives, as and when needed.
• Any other ad-hoc tasks, as necessary.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

(Prior knowledge is not essential but will place candidates at an advantage)

• Basic (Level 1) knowledge and understanding of:

1. Underlying Principles of Insurance;
2. Legal Principles;
3. PRA /FCA and rules and regulations, including contract certainty issues;
4. Lloyd’s regulations;

• Demonstrate clear understanding of all company specific procedures that relate to own role;
• Demonstrate growing understanding of the roles of colleagues and their relationships to the structure and business plans of the firm;
• Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
• Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent#BeBold#BeCurious