XOL Underwriter

Allianz; Greater London; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

An insurance company in the UK is seeking an experienced XOL Underwriter to develop new business and manage existing clients. This role requires expertise in risk and commercial underwriting and strong business assessment skills. You'll be responsible for maintaining underwriting standards, conducting credit limit reviews, and collaborating with internal stakeholders. The candidate should possess effective communication skills and a proactive approach to technology innovations. Hybrid working and a range of benefits are offered.

Benefits

Life assurance

Health cash plan

Income Protection

Employee Share Incentive Plan

Discounts on insurance

Qualifications

• Expertise in dedicated business industries and market dynamics.
• Ability to structure solutions for complex business cases.
• Strong assessment skills in business and finance.
• Proven knowledge and experience in underwriting.
• Effective communicator capable of handling senior discussions.

Responsibilities

• Develop new business and service existing XOL clients.
• Conduct credit limit underwriting for pre-checks.
• Service and renew the existing portfolio of policies.
• Decide on credit limit requests promptly.
• Create credit limit recommendations for stakeholders.

Skills

Market knowledge

Business expertise

Interpersonal skills

Fluent in English

Education

Experience in risk and commercial underwriting

Job description

Summary of Role:

The XOL Underwriter is responsible for developing new business and servicing existing XOL clients while maintaining sound commercial and risk underwriting standards. This role involves contributing to the development of the XOL product within the NEUR region, ensuring that the underwriting practices align with the strategic goals of the organisation.

Main Tasks:

New Business Development:

• Cultivate strong relationships with brokers to generate new business inquiries, including attending market and networking events.
• Underwrite and price new business inquiries using the XoL pricing model and market knowledge.
• Conduct credit limit underwriting for prechecks to assess potential risks.

Account Management:

• Service and renew the existing portfolio of policies through regular meetings with insureds, brokers, and co-insurers.
• Draft policy wordings and endorsements to ensure clarity and compliance.
• Perform credit limit underwriting and structure pricing for renewal terms.
• Monitor overdue reports and manage claims efficiently.

Risk Underwriting:

• Decide on credit limit requests promptly and consistently using available information in IRP and market knowledge.
• Monitor risk exposure, trade sector evolution, and develop action plans as necessary.
• Request additional information from the Risk office to support underwriting decisions.

Collaboration with Internal Stakeholders:

• Create and submit credit limit recommendations to the Regional Risk Director.
• Develop and submit new business and renewal terms recommendations to GMMCD.
• Liaise with local risk offices for risk regrading and obtaining recommendations.

What We Are Looking For:

Market Knowledge:

• Expertise in dedicated business industries and understanding of market dynamics.

Business Expertise:

• Ability to structure solutions when faced with complex business cases.
• Strong business and finance assessment skills.
• Proven knowledge and experience in underwriting.
• Demonstrates commercial awareness and strategic thinking.

Interpersonal Skills:

• Effective communicator with the ability to persuade and justify decisions.
• Capable of holding and facilitating client visits and broker meetings, including handling challenging discussions with senior stakeholders.

Languages:

• Fluent in English, with proficiency in additional languages considered a plus.

Preferred Qualifications:

• Experience in both risk and commercial underwriting functions, providing a comprehensive understanding of the underwriting process and risk management strategies.

What We Offer:

• Life assurance
• Health cash plan
• Income Protection
• Hybrid working
• Employee Share Incentive Plan
• Various discounts on insurance through the Allianz Partnership
• And much more

We are seeking candidates who are naturally curious and have a keen interest in technology and innovation. As we navigate the future, we value individuals who are eager to stay updated with the latest digital trends and advancements. The ideal candidate should demonstrate a proactive approach to learning and adapting to new tools and technologies, especially Artificial Intelligence (AI) powered tools, showcasing a forward-thinking mindset that aligns with our vision for growth and progress.