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- Tasks: Assist in underwriting a portfolio of (re)insurance business and maintain accurate data.
- Company: Join a leading specialty Reinsurer expanding their Property team.
- Benefits: Gain valuable experience in a dynamic industry with opportunities for growth.
- Why this job: Be part of a collaborative team, develop broker relationships, and impact the insurance landscape.
- Qualifications: University degree or equivalent insurance qualification; 3 years' industry experience required.
- Other info: Opportunity to work with international clients and attend industry events.
The predicted salary is between 36000 - 60000 £ per year.
About us: Avencia Consulting are recruiting on behalf of a leading specialty Reinsurer who are expanding their Property team for an Assistant Underwriter to join! Experience in D&F Property is essential.
The role: Reporting to the Underwriter, the primary purpose of the role is to assist in underwriting a portfolio of (re)insurance business. This includes analysing and maintaining the accuracy of all (re)insurance data and records with the ultimate goal of ensuring that interests are properly managed and protected.
Key accountabilities:
- Participate in the underwriting process including a daily underwriting call, assisting in the evaluation of submissions, analysing and interpreting exposures, determining coverage and contract language as well as evaluating and prioritising preparations.
- Provide input for the production of underwriting reports.
- Assist and work with risk modeling and pricing tools.
- Attend underwriting business meetings as required.
- Leverage, build and maintain broker relationships.
- Work closely with other group departments to obtain and provide information as required.
- Monitor market developments and remain current regarding knowledge of all relevant classes of business, and legislated and regulatory changes.
- Ensure accuracy and integrity of underwriting data in group underwriting systems.
- Maintain and adhere to group underwriting procedures, controls and systems under remit and report any trigger/alert factors that have the potential to negatively impact the reputation or financial position of the firm.
- Monitor and follow up on payments for outstanding premiums.
- Provide assistance to prepare and issue quotes, binders and policies on an accurate and timely basis.
- Expand existing portfolio of business by developing existing relationships and new prospective clients through visits, entertainment and conferences as appropriate.
- Ensure compliance with internal and external underwriting regulations, liaising as appropriate with external bodies such as brokers, clients, auditors and regulators as required.
Skills & experience:
- University degree or an equivalent insurance related qualification (i.e. ACII, CPCU).
- Minimum of 3 years' (re)insurance industry experience in either a broking or underwriting capacity, to include at least 1 year's experience working with international clients.
- Knowledge of actuarial modeling techniques and familiarity with RMS and AIR pricing tools.
- Strong negotiation skills and proven ability to effectively communicate financial data and information.
- Excellent organisational and analytical skills with an ability to prioritise and effectively manage workload while maintaining a high level of accuracy, professionalism and confidentiality.
- High proficiency in the Microsoft Office Suite of applications, as well as extensive computer experience with spreadsheets and database processing programs.
- Team player with the ability to work flexibly to meet business needs.
Property Assistant Underwriter employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Property Assistant Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in the property insurance market. Understanding current developments will not only help you during interviews but also demonstrate your commitment to staying informed and relevant in the industry.
✨Tip Number 2
Network with professionals in the (re)insurance field, especially those who work in underwriting or have experience with D&F Property. Attend industry events or webinars to build connections that could lead to valuable insights or referrals.
✨Tip Number 3
Brush up on your negotiation skills, as they are crucial for this role. Consider role-playing scenarios with a friend or mentor to practice articulating your thoughts clearly and confidently, which will be beneficial during discussions with brokers and clients.
✨Tip Number 4
Gain hands-on experience with risk modelling and pricing tools like RMS and AIR. If you haven't used them before, look for online tutorials or courses that can help you become proficient, as this knowledge will set you apart from other candidates.
We think you need these skills to ace Property Assistant Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the (re)insurance industry, particularly in D&F Property. Emphasise any specific roles or projects that demonstrate your underwriting skills and knowledge of actuarial modelling techniques.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the role and the company. Mention your experience with international clients and your ability to communicate financial data effectively. Use specific examples to illustrate your skills and achievements.
Highlight Relevant Qualifications: Clearly state your university degree or any insurance-related qualifications such as ACII or CPCU. This will help demonstrate your commitment to the industry and your readiness for the role.
Showcase Soft Skills: In your application, highlight your organisational and analytical skills, as well as your ability to work as part of a team. Mention any experiences where you successfully managed workloads while maintaining accuracy and professionalism.
How to prepare for a job interview at Avencia Consulting Services
✨Showcase Your Industry Knowledge
Make sure to brush up on the latest trends and developments in the (re)insurance industry, especially in D&F Property. Being able to discuss current market conditions and regulatory changes will demonstrate your commitment and understanding of the field.
✨Prepare for Technical Questions
Expect questions related to underwriting processes, risk modelling, and pricing tools like RMS and AIR. Familiarise yourself with these concepts and be ready to explain how you've used them in your previous roles.
✨Highlight Your Analytical Skills
Since the role requires strong analytical abilities, prepare examples that showcase your experience in analysing data and making informed decisions. Discuss specific instances where your analytical skills led to successful outcomes.
✨Demonstrate Relationship-Building Skills
The ability to build and maintain relationships with brokers and clients is crucial. Be prepared to share examples of how you've successfully developed professional relationships in the past and how you plan to expand the existing portfolio.
