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- Tasks: Support the underwriting of power generation and renewable energy accounts while learning about the sector.
- Company: Join Liberty Specialty Markets, a leading global insurer focused on innovative insurance solutions.
- Benefits: Enjoy a vibrant work environment, career development opportunities, and a healthy work-life balance.
- Why this job: Be part of the energy transition and work with diverse clients in a growing industry.
- Qualifications: A background in insurance or intent to pursue relevant qualifications is preferred.
- Other info: This role offers exposure to various technologies and collaboration across multiple teams.
The predicted salary is between 36000 - 60000 £ per year.
This is an assistant underwriting role supporting the Power & Renewables team in London. The assistant underwriter will focus on supporting the underwriting of a portfolio of power generation and renewable energy accounts including both operational and renewable energy construction risks (solar/wind/BESS). The assistant underwriter will gain exposure to a wide variety of clients and technologies and exhibit a willingness to learn about the sector and its impact on the Energy Transition. The role requires interacting with members of the wider Energy & Construction teams as well as other underwriting divisions such as marine cargo and casualty, as well as claims, actuarial and exposure management.
The Power & Renewables division is a growing area of the Energy department with renewable energy becoming a key focus area. LSM has a long-term objective to be a leading insurer in the transition from fossil fuel to renewables and clean energy sources supporting both existing energy and utility companies and new renewable energy enterprises.
Key Responsibilities:
- Understand and follow the annual business plan for the Power & Renewables division in order to make appropriate decisions.
- Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice.
- Maintain relationships with customers, brokers, business partners, reinsurers and colleagues to maximise influence and achieve business objectives.
- Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team.
- Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives.
- Negotiate rates, terms and conditions for existing and new business.
- Compliance with the production and issue of documentation in accordance with contract certainty requirements.
- Support the review and analysis of the portfolio, to identify progress towards business objectives.
- Process entries, as required, properly onto relevant systems in a timely manner ensuring accuracy of data with relation to both underwriting and aggregate exposures.
- Compliance with all applicable internal and external laws, regulations, policies, procedures, and guidance.
- Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk.
Skills and Experience:
- Understanding of relevant market conditions for specific class/portfolio.
- Demonstrates proactivity in learning about emerging sectors and technologies.
- Good knowledge of legal and regulatory requirements.
- Become proficient in the knowledge of underwriting systems, processes and procedures.
- Analytical, with an understanding of relevant software including Excel and other software packages.
- A high level of numeracy and literacy skills.
- Good interpersonal and communication skills.
- Confident in proactively building relationships with internal and external contacts.
- Good organizational and prioritization skills.
- Good attention to detail.
- Experience gained within the insurance industry.
- Intent or progress towards the relevant qualifications.
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Assistant Underwriter: Power & Renewables employer: Liberty Specialty Markets
Contact Detail:
Liberty Specialty Markets Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Underwriter: Power & Renewables
✨Tip Number 1
Familiarise yourself with the latest trends in renewable energy and power generation. Understanding the technologies involved, such as solar and wind, will not only help you in interviews but also show your genuine interest in the sector.
✨Tip Number 2
Network with professionals in the insurance and renewable energy sectors. Attend industry events or webinars to connect with potential colleagues and learn more about the challenges and opportunities in the field.
✨Tip Number 3
Brush up on your analytical skills, especially with software like Excel. Being able to demonstrate your proficiency in data analysis during discussions can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss how you would approach building relationships with clients and brokers. Think of examples from your past experiences where you successfully managed relationships, as this is crucial for the role.
We think you need these skills to ace Assistant Underwriter: Power & Renewables
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in underwriting, particularly in the power and renewables sector. Emphasise any specific projects or roles that demonstrate your understanding of renewable energy technologies.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company’s commitment to the Energy Transition. Mention how your skills align with the responsibilities outlined in the job description, such as relationship management and compliance with regulatory requirements.
Showcase Relevant Skills: Highlight your analytical skills and proficiency with software like Excel. Provide examples of how you've used these skills in previous roles, especially in relation to underwriting or market analysis.
Demonstrate Industry Knowledge: Research current trends in the power and renewables market. In your application, reference specific technologies or market dynamics that are relevant to the role, showing your proactive approach to learning about the sector.
How to prepare for a job interview at Liberty Specialty Markets
✨Research the Power & Renewables Sector
Before your interview, take some time to understand the current trends and challenges in the power generation and renewable energy sectors. Familiarise yourself with technologies like solar, wind, and battery energy storage systems (BESS) to demonstrate your interest and knowledge during the conversation.
✨Showcase Your Analytical Skills
As an assistant underwriter, you'll need strong analytical abilities. Be prepared to discuss your experience with data analysis and relevant software, such as Excel. You might even want to bring examples of how you've used these skills in previous roles to support your claims.
✨Prepare for Behavioural Questions
Expect questions that assess your interpersonal and communication skills, as well as your ability to build relationships. Think of specific examples from your past experiences where you successfully collaborated with colleagues or clients, and be ready to share those stories.
✨Understand Compliance and Regulatory Requirements
Familiarise yourself with the key compliance and regulatory requirements relevant to the insurance industry, especially those related to underwriting. Being able to discuss these topics will show that you are proactive and understand the importance of adhering to standards in your role.
