Underwriting Assistant - Energy & Marine Liability

Ascot Group; Greater London; On-site; GBP 30,000 - 45,000; Full time

Job summary

A leading underwriting organization in London is seeking an Underwriting Assistant to provide comprehensive support for the Energy/Marine Liability teams. You will be responsible for various duties including documentation management, compliance, and client interactions. Candidates should possess strong attention to detail and the ability to work effectively in a team-oriented environment. This role offers a unique opportunity to join a collaborative and inclusive culture aimed at underwriting excellence.

Qualifications

• Experience in underwriting support and asset management.
• Strong attention to detail and ability to meet SLA requirements.
• Capable of handling documentation and ensuring compliance.

Responsibilities

• Provide underwriting support for the Energy/Marine Liability teams.
• Ensure compliance with Lloyds licensing requirements.
• Assist in renewing contracts and managing reinsurance placements.

Skills

Underwriting support

Attention to detail

Client management

Workflow management

Reporting discrepancies

Tools

S2000

Crystal/Lloyds QA Tool

IMR

Job description

Underwriting Assistant - Energy & Marine Liability

London, United Kingdom

Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way,The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Purpose:

To provide complete underwriting support for the Energy/Marine Liability Underwriting teams.

Detailed Duties:

• Where possible be present at all stages of the insurance broke
• Entry of mandatory risk details onto S2000
• Ensure insured name is correct on S2000
• Completion of Electronic Front Sheet (EFS)
• Ensure inclusion of Technical Premium and Rate Movement onto S2000 along with assistance from the UWR
• Make sure relevant documentation is scanned against the S2000 reference
• Support of Underwriters and Assistants in ensuring overall Syndicate SLA’s are maintained

Scanning relevant Underwriter sign off when required

Compliance

• SLAs for slips and endorsements
• Assist with Lloyds licencing requirements
• Send relevant slips for pre-bind check and follow up any fails that may occur with the underwriter/broker
• Assist with completion of sanctions checks
• Completion of annual compliance training
• Compliance bulletin review and action
• Assist with ensuring downgrade clauses comply with Ascot’s policy and highlighted correctly on front sheet.
• Assist with the purchasing of reinsurance placements and any issues that may arise.
• Make sure that any endorsements that affect the facultative reinsurance are notified to the relevant team
• Understanding of current RI purchase procedures .

Renewals

• Prepare renewals in advance
• Ensure that all renewals are actioned including all non-renewed premiums

Aggregates

• Make sure the correct aggregation boxes have been ticked on front sheets, and if changed then the right reason for aggregation change selected.
• Ensure all schedules are available and passed to Capita at the time of underwriting

Where required chase the broker for outstanding schedules.

• Attendance at the monthly administration and Claims meetings when required

Credit Control

• Review the weekly credit control report and action. For risks over 31 days overdue refer to the underwriter. When applicable send relevant comments on the chasing of premium to Xchanging. Review inward XL premium adjustments.

Workflow Management

• Review of partial policies
• Un-scanned slips
• Quotations

Reporting

• Claims data - reporting discrepancies between submissions and S2000 data
• Aggregation reports
• Quarterly class reports
• UMC Reports
• UAS Reports

Review and action of exception reports

Client Management (when requested)

• Attend client and broker meetings.
• Take notes and publishing to S2000.

Ensure action points are followed up.

Facility Management

• Chase and process relevant bordereaux
• Reconciliation of estimated premium to actual
• Review of signed premium against estimated premium

Assist in scanning of delegated underwriting form.

Query Resolution

• Slips within SLA
• Aggregation
• USM’s
• BST
• Capita
• Xchanging

Working Knowledge of Systems

• IMR
• Crystal/Lloyds QA Tool
• S2000 (Subscribe)
• Swordfish
• GAAP

Other duties

• Ad-hoc duties as directed by line management.
• Implementation of new procedures.