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For Companies At a Glance
- Tasks: Underwrite property schemes, manage broker relationships, and drive business growth.
- Company: Hiscox UK is a leading insurance brand known for innovation and exceptional service.
- Benefits: Enjoy hybrid working, a supportive culture, and opportunities for professional growth.
- Why this job: Join a dynamic team, work on diverse projects, and make a real impact in the insurance industry.
- Qualifications: Strong property underwriting experience and excellent relationship management skills required.
- Other info: Flexible working model allows you to balance office and remote work.
The predicted salary is between 36000 - 60000 £ per year.
Overview
Hiscox Manchester, United Kingdom. Permanent position. The role sits within the North region and supports the expansion of Hiscox’s presence with a focus on driving profitable growth for the Manchester branch and the wider North regional business.
About Hiscox UK
Hiscox UK is a leading brand in the insurance market, recognised as setting the standards others try to emulate. We consistently deliver strong growth and exceptional returns, recruiting only the very best and empowering them to deliver. We are known for insuring the homes of the rich and famous through the most innovative technology companies. Our customers are diverse and unique and are only united by our ability to provide specialist insurance tailored to their needs.
The role
Hiscox has built a strong reputation for underwriting across a broad range of Property & Casualty (P&C) and Professional Indemnity (PI) products. We’ve developed a substantial and diverse book of business, and now we’re looking to build on that success by expanding our presence in the North region, and through our exciting new customer sector strategy.
You’ll be responsible for driving profitable growth across the Manchester branch and the wider North regional business, working with a panel of brokers to drive growth across our key target sectors. Joining a high-performing and well-established team, you’ll underwrite larger and more complex risks during an exciting period of ambitious expansion.
What You’ll Be Doing
We’re looking for a passionate and driven underwriter with a strong background in either Property & Casualty (P&C) or Professional Indemnity (PI) and ideally some experience in underwriting across any of our sector specialisms. You’ll bring broad market knowledge and a collaborative mindset, supporting the development of our regional underwriting capability while progressing your own career toward future leadership.
- Be recognised as an experienced underwriter within your region by your brokers
- Promote the Hiscox sector appetite within the local broker market, building knowledge of your broker panel business and a strong pipeline
- Underwrite larger, more complex cases consistently and profitably
- Influence the UK Product Heads on underwriting appetite and strategy
- Lead underwriting and sales visits to larger clients and prospects
- Work closely with the regional renewals team to help achieve the region’s target retention rate
- Develop close, effective relationships with brokers to uncover new opportunities for the team’s new business target
- Increase submission and conversion numbers through large client prospecting
- Stay abreast of the competitive landscape from market moves to new product launches
Our must-haves
- Proven experience underwriting larger, more complex risks within either Property & Casualty (P&C) or Professional Indemnity (PI)
- Strong understanding of the UK insurance market, including broker relationships, market dynamics, and the impact of soft/hard market cycles
- Ideally ACII qualified or exempt through relevant experience as defined by the FCA
- Excellent relationship management and sales skills
- Leads underwriting and sales visits to larger clients and prospects
- Acts as the referral point for larger, more complex cases
- Coaches and mentors less experienced underwriters in underwriting and sales skills
Diversity and flexible working at Hiscox
At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn’t always have to be ‘nine to five’ and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.
Work with amazing people and be part of a unique culture
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Development Underwriter employer: Hiscox
Contact Detail:
Hiscox Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Development Underwriter
✨Tip Number 1
Familiarise yourself with the specific types of insurance products mentioned in the job description, such as Buildings, Loss of Rent, and Property Owners Liability. Understanding these products will help you engage more effectively with brokers and demonstrate your expertise during interviews.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those who work with commercial property owners. Attend industry events or join relevant online forums to build relationships and gain insights that could give you an edge in your application.
✨Tip Number 3
Research Hiscox UK’s recent growth and developments, especially regarding their schemes business. Being knowledgeable about the company's current position and future plans will show your genuine interest and commitment to contributing to their success.
✨Tip Number 4
Prepare to discuss your experience with relationship management and negotiation skills, as these are crucial for the role. Think of specific examples where you've successfully built relationships or improved business outcomes, as this will help you stand out during discussions.
We think you need these skills to ace Development Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Development Underwriter position at Hiscox. Tailor your application to highlight relevant experience in property underwriting and relationship management.
Craft a Tailored CV: Your CV should reflect your strong property underwriting experience and any relevant qualifications, such as the Diploma CII. Emphasise your adaptability in handling both open market and schemes business, as well as your relationship-building skills.
Write a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention specific examples of how you've successfully managed broker relationships or driven new business opportunities in previous roles, aligning with Hiscox's goals.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors or typos. A polished application reflects your attention to detail, which is crucial in the underwriting field.
How to prepare for a job interview at Hiscox
✨Understand the Role Thoroughly
Before your interview, make sure you have a solid grasp of what a Development Underwriter does, especially in the context of commercial property. Familiarise yourself with the specific products mentioned in the job description, such as Buildings and Property Owners Liability, to demonstrate your knowledge and enthusiasm.
✨Showcase Your Relationship-Building Skills
Since the role involves managing broker relationships, be prepared to discuss your past experiences in building and maintaining professional relationships. Share specific examples of how you've successfully influenced or negotiated with brokers to achieve business goals.
✨Demonstrate Adaptability
The position requires switching between open market and schemes business. Highlight instances where you've successfully adapted to changing circumstances or tackled complex cases. This will show that you're flexible and can thrive in a fast-paced environment.
✨Prepare for Market Knowledge Questions
Brush up on your knowledge of the insurance market, including current trends and competitors. Be ready to discuss how these factors might impact Hiscox and the role of a Development Underwriter. This will reflect your proactive approach and genuine interest in the industry.
