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For Companies At a Glance
- Tasks: Join our underwriting team to manage queries, analyse risks, and support pricing strategies.
- Company: We're a dynamic insurance broker focused on the finance and leasing industry across Europe.
- Benefits: Enjoy a competitive salary, 25 days leave, private healthcare, and a vibrant office culture.
- Why this job: Be part of a collaborative environment that values continuous improvement and professional growth.
- Qualifications: Previous underwriting experience and strong analytical skills are essential; formal qualifications are a plus.
- Other info: Office-based role in Newport with flexible working options and exciting social events.
The predicted salary is between 28000 - 42000 £ per year.
We are delighted to be working with a private equity backed insurance broker and administrator that specialises in providing insurance administration services for the finance and leasing industry across Europe. Their main administration centre is based in Newport, South Wales but they also operate a European office in Amsterdam, Netherlands through the group's sister subsidiary company. Working for this client provides an opportunity to join a dynamic and cooperative working environment which is focused on continuous improvement.
Role Purpose
The Underwriting team is responsible for the governance and execution of our clients' commercial and group underwriting activity, including pricing, forecasting, risk analysis, policy allocation and all out-of-binder proposals, and ensuring that the technical results of their insurance-backed products continue to perform within their designated target thresholds.
Key Responsibilities
- Act as the main contact for underwriting queries, acknowledging receipt, managing their allocation within the team, and providing accurate time estimates for their delivery.
- Underwriting risks within own personal level of underwriting authority and escalating to the Underwriting Manager or Partnerships team for outward approval where necessary.
- Support the Underwriting manager in enacting MTAs such as ad hoc pricing changes, inflation adjustments, additional equipment classes or policy endorsements and issuing/archiving the relevant documentation swiftly and accurately.
- Provide technical support to the Commercial function, assisting them in securing financial objectives in a clear, timely and well organised manner.
- Actively use, contribute ideas to and provide feedback regarding automated underwriting systems, employing a continuous improvement mindset to ensure that any development needs are clearly communicated to the Finance and Business Intelligence teams.
- Support the Underwriting Manager in delivering compulsory and targeted skill gap product training to the wider business and assimilate technical knowledge.
- Handle the day-to-day administration of the Residual Value Insurance product.
- Work closely with all teams to contribute towards the execution of corporate objectives.
- Contribute to the delivering operational excellence through process documentation, optimisation, and automation within Partnerships and across the wider business.
Personal Requirements/Skills
- Previous underwriting experience, preferably within an MGA environment in UK or EU general insurance lines.
- Excellent verbal and written communication skills, with the capability to prioritise.
- Technical mindset with an analytical approach to problem-solving.
- Proficiency in data interrogation, analysis, and presentation.
- Ability to present and explain data-driven proposals clearly and effectively to stakeholders.
- Cognisance and understanding of the UK and European general insurance markets, regulations, and trends.
- Sound Office proficiency, particularly Microsoft Excel.
- Ability to build rapport with internal and external stakeholders at all levels.
- Strong numerical reasoning skills and attention to detail are essential.
- Formal insurance qualification/s (e.g. CertCI) would be beneficial.
What you’ll get in return
- Competitive salary of £35,000.
- 25 days Annual Leave (with the option to buy and sell more).
- Annual Bonus Scheme based on performance.
- Requirement to be in the office 2/3 days a week in Newport (onsite parking available).
- Company Pension Scheme 5% employee and employer contributions.
- Private Medical Healthcare.
- Group Life Insurance (4x basic annual salary).
- Employee Assistance Programme.
- Cycle to Work Scheme.
- Electric Vehicle Scheme.
- Occupational Sick Pay.
- Enhanced Maternity & Paternity Benefits.
- Comprehensive Performance and Development Framework.
- Social Events Committee.
- Refer a friend bonus scheme (£1,000 per referral).
- Long service awards.
Underwriter employer: Riverview recruitment Ltd
Contact Detail:
Riverview recruitment Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter
✨Tip Number 1
Familiarise yourself with the specific underwriting processes and regulations in both the UK and EU markets. This knowledge will not only help you understand the role better but also demonstrate your commitment and expertise during discussions with our team.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who have experience in underwriting within an MGA environment. Engaging with these individuals can provide valuable insights and potentially lead to referrals that could strengthen your application.
✨Tip Number 3
Showcase your analytical skills by preparing examples of how you've used data to drive decisions in previous roles. Being able to discuss specific instances where your data-driven approach led to successful outcomes will set you apart from other candidates.
✨Tip Number 4
Demonstrate your continuous improvement mindset by thinking of ways to optimise underwriting processes. Be ready to share any ideas or experiences you have regarding automation and efficiency improvements during your conversations with us.
We think you need these skills to ace Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Underwriter position. Familiarise yourself with the key tasks such as risk analysis, pricing, and policy allocation.
Tailor Your CV: Customise your CV to highlight relevant underwriting experience, particularly in MGA environments. Emphasise your analytical skills, communication abilities, and any formal insurance qualifications you possess.
Craft a Compelling Cover Letter: Write a cover letter that showcases your enthusiasm for the role and the company. Mention specific experiences that demonstrate your technical mindset and problem-solving skills, and how they align with the company's objectives.
Proofread Your Application: Before submitting, carefully proofread your application materials. Check for spelling and grammatical errors, and ensure that all information is clear and concise. A polished application reflects your attention to detail.
How to prepare for a job interview at Riverview recruitment Ltd
✨Know Your Underwriting Basics
Make sure you brush up on your underwriting knowledge, especially within the UK and EU general insurance markets. Be prepared to discuss your previous experience and how it relates to the role, as well as any specific underwriting authority you've held.
✨Demonstrate Analytical Skills
Since the role requires a technical mindset and strong analytical skills, be ready to showcase your ability to analyse data and present findings. You might be asked to solve a problem or interpret data during the interview, so practice explaining your thought process clearly.
✨Communication is Key
Excellent verbal and written communication skills are essential for this position. Prepare examples of how you've effectively communicated complex information to stakeholders in the past, and think about how you can convey your ideas clearly during the interview.
✨Show Your Team Spirit
This role involves working closely with various teams, so highlight your ability to collaborate and build rapport. Share experiences where you've successfully worked in a team environment and contributed to achieving corporate objectives.
