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- Tasks: Support product development and manage key accounts while analysing underwriting performance.
- Company: Join Markerstudy Insurance Services, a leading player in the UK motor insurance market.
- Benefits: Enjoy remote work, 25 days leave, health cash plan, and discounts on shopping and travel.
- Why this job: Be part of a collaborative team that values innovation and strong relationships in the insurance sector.
- Qualifications: Experience in motor insurance underwriting, data analysis skills, and excellent communication abilities required.
- Other info: Opportunity to mentor junior underwriters and develop niche insurance products.
The predicted salary is between 36000 - 60000 £ per year.
This position is largely remote, with occasional travel. We have offices in Kent, Cambridgeshire, Manchester, and Stoke-On-Trent.
Role Purpose: To support the Product Head in developing and maintaining the range of products to ensure the agreed business plan targets and objectives are met. Exploiting new product opportunities and providing Product and Technical support both internally and externally.
Key Responsibilities:
- Fully understand underwriting performance metrics to enable collation and presentation of key account information to the Product Head at agreed intervals and dealing with ad-hoc requests relating to products, pricing and MI.
- Present pricing recommendations to the Product Head based on analysis of data, broker intel, pricing and MI team.
- Manage new product developments and amendments.
- Research the market, through broker intel, media and personal contacts, to remain up to date on all developing issues and opportunities.
- Manage key accounts and other agreed key business relationships, to maintain and develop profitable accounts, and to explore any product opportunities and resolve issues that exist.
- Nurture broker relationships to meet the needs of the business plan whilst using that relationship to obtain feedback from our customers of their experience.
- Investigate and respond to queries from the operational area in relation to policy issues.
- Train and mentor junior underwriters, sharing expertise and best practices.
About You:
- Experienced Underwriter ideally in the Motor Insurance industry.
- Data Mining Experience.
- Has an analytical background.
- Previous experience within the insurance market.
- Commercial awareness, market knowledge, process awareness.
- Data analysis including presentation of observations and proposed actions.
- Work well within a team environment as well as able to self-motivate and use initiative.
- Good knowledge of Excel functions.
- Excellent communication skills.
- Knowledge of SAS software, Databricks, Power BI and Radar would be beneficial.
Why us? Markerstudy Insurance Services Limited (MISL) is one of the largest Managing General Agents in the UK. With a strong presence in the UK motor insurance market, we specialise in niche motor cover, where our solid market knowledge and experience enables us to create highly targeted products. Our success is underpinned by our underwriting strategy to identify and apply special risk factors to the customers’ advantage. That, and our skilled underwriting technicians who are friendly, accessible and empowered to make decisions. We only transact business through professional UK insurance intermediaries and we take pride in fostering excellent working relationships. Our products feature prominently on Aggregators' sites, such as Confused.com, Go Compare and Compare the Market, via our broker partners.
What we offer in return?
- A collaborative and fast-paced work environment
- 25 days annual leave plus Bank Holidays and the ability to buy an additional five days holiday
- Health Cash Plan
- A benefit scheme that offers discounts and cashback on shopping, restaurants, travel and more
- Life Assurance 4x annual salary
Senior Underwriter employer: Markerstudy Group
Contact Detail:
Markerstudy Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in the motor insurance market. Understanding current challenges and opportunities will help you engage in meaningful conversations during interviews and demonstrate your proactive approach to product development.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who have experience in underwriting. Attend industry events or join online forums to build connections that could provide insights into the role and potentially lead to referrals.
✨Tip Number 3
Brush up on your data analysis skills, particularly with tools like Excel, SAS, and Power BI. Being able to showcase your analytical capabilities during discussions can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience in managing key accounts and broker relationships. Highlight specific examples where you've successfully nurtured these relationships to drive business results, as this is a crucial aspect of the Senior Underwriter role.
We think you need these skills to ace Senior Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in underwriting, particularly in the motor insurance industry. Emphasise your analytical skills and any relevant data mining experience, as these are crucial for the role.
Craft a Strong Cover Letter: In your cover letter, address how your background aligns with the key responsibilities of the Senior Underwriter position. Mention specific examples of how you've managed product developments or broker relationships in the past.
Showcase Relevant Skills: Highlight your proficiency in Excel and any experience with SAS software, Databricks, Power BI, or Radar. These technical skills are beneficial for the role and should be clearly stated in your application.
Prepare for Potential Questions: Think about how you would respond to questions regarding your approach to underwriting performance metrics and managing key accounts. Be ready to discuss your strategies for nurturing broker relationships and resolving policy issues.
How to prepare for a job interview at Markerstudy Group
✨Know Your Numbers
As a Senior Underwriter, you'll need to demonstrate a strong understanding of underwriting performance metrics. Be prepared to discuss specific examples of how you've used data analysis to inform pricing recommendations and product development.
✨Showcase Your Market Knowledge
Research the current trends in the motor insurance market before your interview. Being able to discuss recent developments and how they might impact the company's products will show that you're proactive and well-informed.
✨Highlight Your Communication Skills
Excellent communication is key in this role, especially when nurturing broker relationships. Prepare examples of how you've effectively communicated complex information to both technical and non-technical stakeholders.
✨Prepare for Technical Questions
Given the emphasis on data mining and software knowledge, be ready to answer questions about your experience with tools like SAS, Databricks, and Power BI. Consider discussing specific projects where you utilised these tools to achieve results.
