Assistant Underwriter

Beazley; Hamilton; On-site; GBP 60,000 - GBP 80,000; Full time

Job description

Job Title: Assistant Underwriter – Property Risks

Division: Property Risks

Reports To: As per Beazley’s organisation chart

Key Relationships: Brokers, Head of Business Unit, Underwriters, Claims Staff, Coverholders, external Clients and suppliers

Job Summary: To provide underwriting support to the Property team and ensure that the administrative processes are run as efficiently as possible to serve both internal and external clients.

Key Responsibilities:

Underwriting

• Assist underwriters to evaluate and assess risk in order to impose precise terms and conditions required for renewals and endorsements to optimise underwriting profit.
• Assist underwriters to 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.
• 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 premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Comply with Beazley’s global underwriting control standards.

Underwriting Support

• Support the underwriters in the delivery of an effective and efficient administration service.
• Support underwriting risk assessment process.
• Review underwriting bordereaux and/or certificates.
• Accurately process, scan and monitor risk and data entries to ensure information is up to date.
• Prepare and provide statistics and information in order to serve the requirements of the Underwriters and clients.
• Produce ad hoc reports for the underwriters and other members of staff when requested.
• Interact with the underwriting support functions, such as claims, risk, compliance, to source information when necessary.

Broker/Client Interaction

• Liaise with brokers and other key partners in order to develop business relationships.
• Respond to client queries in an accurate and timely fashion to develop the brand image of Beazley.
• Provide a professional service to Brokers in person, by email and on the telephone
• Chase renewal accounts by contacting brokers.

General

• Undertake any other reasonable duties as may be requested by the underwriting team.
• Participate in cross‑team and intra‑team projects as required
• Share knowledge with the underwriting community and the Beazley network to ensure dissemination of best practice.
• Assist with the production of presentations and marketing literature as required.

It is important that within all your interactions both internally and externally you adhere to 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 which incorporates the PRA and FCA Conduct rules.
• Comply with local procedures, policies and regulatory requirements.
• 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:

Knowledge & Experience

• Proven experience in a similar role in the insurance industry, ideally experience in reinsurance
• Client service experience advantageous

Skills & Abilities

• Strong administrative skills
• Strong computer skills – Intermediate-Advanced Word, Excel and Outlook
• Ability to communicate effectively with others, both verbally and in writing
• Ability to manage own time, meet deadlines and prioritise work
• Attention to detail
• Accurate and numerate

Aptitude & Disposition

• Self-motivated
• Outcome focused
• Flexible and enthusiastic
• Team worker with the ability to work on own initiative