Underwriting Associate

Starr Underwriting; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

Join a leading specialist insurance company as an Underwriting Associate. This 24-month graduate track will provide a comprehensive introduction to underwriting across various divisions, focusing on the specialty risks sector. You will develop necessary skills while gaining exposure to key industry stakeholders and support significant business lines. As part of a dynamic and diverse team, contribute to innovative underwriting solutions and client management that align with Beazley's values.

Benefits

Commuting reimbursement

Free in-office lunch

Six months parental leave

Lifestyle allowance

Qualifications

• Accurate and numerate with strong analytical skills.
• Good working knowledge of MS Office, advanced Excel skills.
• Ability to communicate effectively and manage time.

Responsibilities

• Develop and underwrite a profitable portfolio of Product Recall business.
• Support and shadow underwriters while completing the track curriculum.
• Advise and service clients on insurance and risk matters.

Skills

Analytical skills

Attention to detail

Communication

Time management

Numerical accuracy

Motivational skills

Language proficiency (English, Mandarin)

Tools

MS Office

Excel

Job description

Exciting opportunity to join Beazley as Underwriting Associate. We are looking for an enthusiastic individual and aim to train the next generation of Beazley underwriters, enable better succession planning within our teams and support high growth lines of business. Underwriting Associate will be attached to various Divisions for the first 24 months.

Who We Are

Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to provide beautifully designed insurance, innovating to give our clients the maximum benefit with minimum hassle. Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture

We employ over 2,000 people globally, hosting a wonderful diversity of cultures, experiences and backgrounds. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that’s big on collaboration, diversity of thought & personal accountability.

Our three core values inspire the way we work and how we treat our people & customers – 1) Be bold 2) Strive for better 3) Do the right thing. Upholding these values every day has enabled us to become an innovative and responsive organisation in touch with the changing world around us – our ambitious I&D & Sustainability targets are testament to this.

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as iLearn (our own learning & development platform), LinkedIn Learning, our mentorship program and external qualification sponsorship. As a Beazley employee, you also get access to our fantastic array of benefits which include commuting reimbursement, free in-office lunch, six months parental leave and a lifestyle allowance, amongst many others

Job description and person specification

Job Title: Underwriting Associate - 24 month graduate track

Division: People & Sustainability

Key Relationships: Brokers, underwriters, claims staff, coverholders, external clients and suppliers

Job Summary: To successfully complete the Beazley Underwriting Associate track. Complete the track curriculum and support and shadow Product Recall underwriters. Curriculum covers Underwriting Operations (UCO), Claims, Finance and Credit Control

Key Responsibilities:

Underwriting

• Support and shadow your team to:

• • Develop and underwrite a profitable portfolio of Product Recall business as part of the Specialty Risks team.
  • 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.
  • 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.

• Comply with Beazley’s underwriting control standards
• Develop a good working relationship with all stakeholders in this class of business as well as within the broader Singapore office and APAC region.

Learning

• Complete the underwriting associate track curriculum.
• Obtain the CGI and ANZIIF Foundation in Insurance certifications.
• Contribute to the project work assigned to you throughout the duration of the track.

Client Management

• 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.
• Maintenance ofgood business relationships with brokers.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

Rotation within role

• Opportunity to learn all facets of underwriting, developing skillset across a variety of areas including Financial, Technical, Legal, Insurance & Reinsurance and Commercial
• Attachment to Underwriting and Claims Operations team
• Attachment to Finance & Credit Control team
• Attachment to the Claims team

General

• 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 Product Recall team.
• Work with peers within Specialty Risks and other business lines to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• 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 research documents as required.

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers." We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability 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 People & Sustainability 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 and Abilities

• Accurate and numerate
• Computer skills – good working knowledge of MS Office, advanced Excel skills
• 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
• Language Proficiency – English, Mandarin (good to have for supporting North Asia clients)

Knowledge and Experience

• General commercial and financial knowledge