Location: London/ hyrbid
Salary: £33500
About the Job:
To provide a professional and comprehensive administrative service as an Underwriting Assistant within the Group, with the flexibility to support all the Underwriting teams dependant upon the Groups requirements. This will also include the provision of the onshore interface between underwriters and the service provider in respect of all technical processing activities.
Main areas of responsibility
Underwriting
- Client Audits – Chasing brokers for premiums and renewals.
- Key Relationships – General liaison with clients and other Divisions of the organisation.
- Capacity - Establish and maintain knowledge of internal controls and all procedures relating to underwriting.
- Evaluation and Control - Processing and checking of data entry onto relevant systems.
- Query Management - To monitor and control queries, seeking advice where required.
- Business Development – Pre-underwriting calculations and work as directed by the Underwriter.
- Peer review - To attend peer review meetings and participate in discussions on risks written within the division.
- Rotation – opportunities to work with different underwriting teams depending on team requirements.
Operations
- Maintain and monitor the flow of work between underwriting teams and the service provider to ensure items are addressed in a timely and accurate manner.
- Identify issues and implement appropriate remedial action including training of new and existing staff.
- Identify and implement opportunities for streamlining underwriting activity, including increased use of the service provider.
- Ensure Standard Operating Procedures and User Guides accurately reflect current procedures.
- Help to facilitate and monitor any new activities that are transitioned out to the service provider.
- Assist with the investigation and resolution of any data quality issues that are raised.
- Assist with the testing and roll out of new IT initiatives.
Business Planning
- Producing and collate data for business planning and reinsurance programme purposes.
- Understand and ensure that the strategy is fully supported
Compliance
- To assist the team in the preparation of statistics, analyses of business trends and new business proposals, for use within team and for reporting purposes to senior management: e.g. Income analysis, Loss Ratio reports etc.
- Regulatory Issues - To be aware of the regulatory impact and ensure underwriting activity is always within the guidelines.
- To maintain all underwriting records and ensure quality of entries into Eclipse and other systems as appropriate.
Regulatory Conduct Rules
- Act with integrity.
- Act with due skill, care and diligence.
- Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators.
- Pay due regard to the interests of customers and treat them fairly.
- Observe proper standards of market conduct.
- Act to deliver good outcomes for retail customers.
Education, Qualifications, Knowledge, Skills and Experience
• Good overall educational passes
• Willing to complete the ACII professional qualification
• Sound knowledge of general, commercial insurance practices
• Commercial awareness, with a knowledge of the insurance market and external changes which would impact on our business
• Basic knowledge of regulatory and legal compliance issues
• Excellent numeric, analytical and written skills
• Excellent communication skills, both written and oral
• Effective prioritisation and organisational skills
• Good IT skills, including Microsoft Word, Excel and Outlook
• Experience of working within a commercial environment, ideally within Insurance