Underwriter –Specialty Professions

Beazley; City of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading insurance firm in London seeks an Underwriter for Specialty Professions. The ideal candidate will underwrite a profitable portfolio and manage client relationships. You should have significant experience in the insurance industry and be skilled in analytical thinking and client service. The position offers an opportunity to contribute to innovative service offerings and enhance the company's market reputation.

Qualifications

• Aptitude in creating profitable business solutions.
• Attention to detail in underwriting evaluation.
• Client service experience is essential.

Responsibilities

• Develop and underwrite Specialty Professions business.
• Manage innovation of non-insurance service offerings.
• Monitor and take corrective measures for profitability.

Skills

Proficient underwriting skills

Strong analytical skills

Effective communication skills

Time management

Motivational skills

Education

Experience in insurance industry

Experience of Specialty Professions underwriting

Job description

Job Title: Underwriter – Specialty Professions

Specialty Risks: Specialty Risks

Key Relationships: Brokers, underwriters, claims, wordings, insureds, external clients and suppliers

Job Summary: To underwrite a Specialty Professions account within Specialty Risks 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

Underwriting

• Develop and underwrite a profitable portfolio of Specialty Professions business as part of Specialty Risks
• 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 Specialty Professions
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks
>Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley’s subsidiaries or internal MGAs
• Develop a good working relationship with the claims managers on this class of business

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction
• Foster positive with clients to get a mutual understanding of both their and Beazley’s needs
• Maintenance of good business relationships with brokers
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients

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 Specialty Professions and Specialty Risks
• Work with peers within the Specialty Professions and Specialty Risks 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 business plans/research documents for the Specialty Professions account 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
• 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 & 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

Knowledge & Experience

• General commercial and financial knowledge
• Experience in insurance industry
• Experience of Specialty Professions 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