Underwriter - Cyber Risks

Job Title

Underwriter – Cyber Risks

Company

Beazley

Overview

To underwrite an Cyber Risks account within the International Cyber Risks team and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.

Key Responsibilities

• Develop and underwrite a profitable portfolio of Cyber Risks business as part of the Cyber Risks team with a focus on German markets
• Structure tailor‑made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing
• Manage innovation and development of non‑insurance service offerings to insureds and others
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long‑term profitability at account level
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable
• Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost‑effective administration of the Cyber Risks
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Cyber Risks
• Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley’s international subsidiaries or Beazley’s internal MGAs
• Develop a good working relationship with the claims managers on this class of business
• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction
• Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs
• Maintain good business relationships with brokers
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients
• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley
• Develop best practice and disseminate business and class knowledge within the Cyber Risks
• Work with peers within Cyber Risks to maximise business opportunities and profitability within the department
• Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group
• Production of presentations and marketing literature as required
• Production of business plans/research documents for the Cyber Risks account as required
• Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e‑learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups

Personal Specification

Skills & Abilities

• Proficient underwriting skills
• Accurate and numerate
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Ability to manage time, meet deadlines and prioritise
• Motivational skills
• Fluency in German and English – written and spoken

Knowledge & Experience

• General commercial and financial knowledge
• Ex in insurance industry
• Experience of Cyber underwriting or broking
• Thorough knowledge of underwriting policy, philosophy and practice
• Advanced knowledge of underwriting processes and systems
• Client service experience

Aptitude & Disposition

• Result focused, self‑motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker as well as able to work on own initiative
• Customer focused, with a strong ethic of service and fairness to the customer

Competencies

• Achievement drive
• Analytical thinking
• Strategic thinking
• Service focus
• Team working
• Conceptual thinking
• Forward thinking

Job Classification

• Seniority level: Not Applicable
• Employment type: Full‑time
• Job function: Finance and Sales
• Industry: Insurance