Senior Development Underwriter - FI

Travelers Insurance Co. Ltd.; City of London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A leading insurance company in London is seeking a Senior Underwriter for Financial Institutions to drive growth through strategic relationship building and new business development. The successful candidate will underwrite new business, collaborate with colleagues and brokers, and manage a book of business. This role offers comprehensive benefits, including private medical insurance and generous holiday entitlement.

Benefits

Private Medical Insurance

Retirement Plan Contribution

25+ days annual leave

Wellness Programme

Volunteer Rewards Programme

Qualifications

• Previous experience underwriting in management liability, professional indemnity, or financial institutions.
• General knowledge of industry operations and financial drivers.
• Intermediate skills in relationship management and product knowledge.

Responsibilities

• Underwrite and assess risk for products and accounts.
• Collaborate with internal and external business partners.
• Manage, maintain, and develop broker relationships.

Skills

Relationship management

Analytical thinking

Technical proficiency

Prudent quoting

Education

University degree or CII Advanced Certification

Job description

Senior Underwriter - Financial Institutions

Our Financial Institutions team is looking for a Senior Underwriter to join them in the London office. The role is pivotal in driving business growth through strategic relationship building and new business development.

What Is the Opportunity?

In this position, you will be responsible for underwriting predominantly new business, leveraging your underwriting authority to make impactful decisions. You will collaborate closely with regional and product colleagues and internal and external business partners to attract fresh opportunities, retain valued customers, and explore innovative business ventures. You will take direct ownership of broker development and management, positioning yourself as a local market expert while serving as a role model and mentor to other team members.

What Will You Do?

• Underwrite and assess risk for products and accounts from assigned brokers. Make appropriate decisions within own underwriting authority in addition to considered, intelligent, and complete recommendations to regional or product underwriting leadership.
• Underwrite more complex accounts and risks, considering different approaches to maximize profitability (e.g., pricing, retention, endorsements, limits, indemnity, security).
• Make prompt, sound decisions within underwriting authority based on appropriate underwriting information. Negotiate terms and conditions consistent with regional or product underwriting requirements and standards within the submission timeframe.
• Understand and execute product segment strategies to produce budgeted results.
• Continuously manage book of business, maintaining quality of business required by regional or product underwriting strategy.
• Ensure accurate underwriting documentation and information in account management systems and adherence to documentation standards.
• Deliver appropriate and timely underwriting service with allocated Underwriting Account Management resources.
• Establish and maintain collaborative relationships with colleagues in Head Office, Risk Control, Claims, Actuarial, and other parts of the organization.
• In exercising own underwriting authority, assure that policies and accounts are effectively underwritten, handled, and documented in compliance with company and regulatory standards and requirements.
• Develop and leverage broker/client relationships through a disciplined sales management approach (e.g., planning and follow‑up for broker and prospective customer visits/meetings) in support of business objectives.
• Effectively develop and execute sales plans for assigned brokers in conjunction with regional sales leadership as appropriate.
• Create and achieve sales plans that identify and capture new business opportunities and effectively cross‑sell TICL products.
• Act as a responsible business partner with assigned brokers and clients, managing TICL interests.
• Seek out and maintain collaborative relationships with colleagues in other business units and regions to foster business development.
• Actively participate or lead regularly scheduled regional and product underwriting and/or sales meetings with your team.
• Demonstrate superior customer service standards (consistency, quick response, knowledge of products).
• Work with others to help achieve underwriting, sales and production goals and understand and work towards strategic objectives.
• Provide customer interaction focusing on customer expectations for response time and product knowledge.
• Work strategically and tactically with brokers to ensure they have an appropriate level of understanding.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• University degree and/or Chartered Insurance Institute (CII) Advanced Certification or Diploma.
• General knowledge of industry business operations, critical business issues and financial drivers that affect the Line of Business.
• General knowledge of the local insurance marketplace, effectively using that knowledge to the Company’s advantage and continuously seeking local market insight.
• Intermediate skills in relationship management, business perspective, analytical thinking/financial acumen, product/technical proficiency, and prudent quoting and pricing decisions.

Must Have

• Previous experience underwriting in management liability, professional indemnity, or financial institutions.

What Is in It for You?

• Private Medical Insurance: On commencement of employment, you are eligible for single cover provided by Travelers.
• Retirement: Travelers will make a core contribution to your Pension Plan.
• Holiday Entitlement: Minimum of 25 days holiday entitlement annually, with the option to purchase additional days up to a total of 35 days per year.
• Wellness Programme: Tools, discounts and resources that empower you to achieve wellness goals.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards programme.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.

Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.

Seniority Level

Not Applicable

Employment Type

Full‑time

Job Function

Business Development

Industries

Insurance