Underwriting Assistant

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

Job summary

A leading insurance company is seeking an Underwriting Assistant in London. This role involves data entry, document management, and supporting various underwriting teams. The ideal candidate will have foundational knowledge in insurance principles, possess strong organizational skills, and demonstrate a willingness to learn and grow within the industry.

Benefits

Critical illness insurance

Life Assurance

Permanent Health Insurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Study & Professional Development Support

Qualifications

• No prior knowledge essential but advantageous.
• Will to develop knowledge through formal and informal learning.

Responsibilities

• Entering data into the underwriting system and pricing tools.
• Supporting the clearing list and contract certainty processes.
• Reviewing and managing exception reports.

Skills

Basic knowledge of Insurance Principles

Understanding of Legal Principles

Knowledge of PRA/FCA rules and regulations

Familiarity with Lloyd's regulations

Understanding of company procedures

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.

We are currently looking for an Underwriting Assistant to work with us on a full-time basis 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.
• 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:
• Underlying Principles of Insurance;
• Legal Principles;
• PRA /FCA and rules and regulations, including contract certainty issues;
• 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.

• 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