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For Companies At a Glance
- Tasks: Evaluate risks and calculate premiums for structural defects insurance.
- Company: Join a leading UK insurance firm known for quality and customer focus.
- Benefits: Enjoy a dynamic work environment with opportunities for professional growth.
- Why this job: Make a real impact on vital projects while developing your underwriting skills.
- Qualifications: Experience in general insurance underwriting; construction knowledge is a plus.
- Other info: Collaborate with industry experts and contribute to significant insurance solutions.
The predicted salary is between 36000 - 60000 £ per year.
Structural Defects Underwriter
Belfast
Inclusion IQ are delighted to be assisting our client, a highly respected leader in the specialist UK insurance sector, who is seeking talented Underwriters. This established firm maintains a significant market presence, particularly in large-scale projects, and is recognised for its commitment to quality. Trusted by a vast majority of mortgage lenders and host to a prestigious annual awards programme, this is an exceptional opportunity to join a customer-focused, value-driven company where your expertise in risk assessment will directly contribute to protecting vital projects and shaping an integrated approach to insurance and technical services.
The Role
As a Structural Defects Underwriter, you\’ll be at the heart of the risk evaluation process, directly influencing the scope of protection for vital insurance coverage. Your key responsibilities will include:
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Assess Risk: Meticulously evaluate applications for structural defects insurance, analysing construction methods, client profiles, and background information to identify and assess risks.
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Calculate Premiums: Determine appropriate insurance premiums in line with binding agreements, applying precise terms and conditions to quotations and final documentation.
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Underwrite Diverse Projects: Handle a varied range of structural defect risks, from individual residential properties to large, complex mixed-use developments, up to £10,000,000 for any single continuous structure.
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Manage Enquiries: Efficiently process new quotation enquiries and mid-term adjustments.
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Collaborate Externally: Liaise effectively with Brokers, Direct clients, and Technical Inspection Surveyors throughout the underwriting process.
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Document Thoroughly: Compile detailed risk information and capture key insights within the documented Underwriting Rationale.
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Support Stakeholders: Work closely with Account Executives to understand proposed business and assist the Underwriting Director with daily departmental operations.
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Maintain Systems: Ensure all required information is accurately obtained and uploaded onto an advanced in-house IT system.
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Issue Certifications: Be responsible for issuing final insurance certification upon practical completion of projects, including all relevant policy wordings.
The Person
If you have a solid grasp of insurance principles, a keen eye for risk, and a positive approach, this role is perfect for you.
Applicants should have the following skills and experience:
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Proven experience in underwriting within the general insurance market.
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Structural/ Construction Defect Insurance underwriting experience is highly desirable, or a strong background and knowledge of the construction industry that demonstrates an understanding of building processes and potential defects.
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Sound understanding of underwriting principles and the broader insurance landscape.
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Knowledge of FCA Regulations and complaint handling within the insurance industry.
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Demonstrable risk analysis skills and a strong decision-making ability.
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Excellent numerical and verbal reasoning skills.
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Highly organised with the ability to prioritise effectively and manage pressure.
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Strong negotiation skills and a customer-centric approach.
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Resilient with a positive and enthusiastic attitude.
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Structural Defects Underwritter employer: Inclusion IQ LTD
Contact Detail:
Inclusion IQ LTD Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Structural Defects Underwritter
✨Tip Number 1
Familiarise yourself with the specific types of structural defects insurance and the underwriting process. Understanding the nuances of risk assessment in this area will help you stand out during interviews.
✨Tip Number 2
Network with professionals in the insurance and construction sectors. Attend industry events or join relevant online forums to connect with others who can provide insights or even referrals for the role.
✨Tip Number 3
Brush up on your knowledge of FCA regulations and complaint handling. Being well-versed in these areas will demonstrate your commitment to compliance and customer service, which are crucial for this role.
✨Tip Number 4
Prepare to discuss your previous underwriting experiences in detail. Be ready to share specific examples of how you've assessed risks and calculated premiums, as this will showcase your expertise and decision-making skills.
We think you need these skills to ace Structural Defects Underwritter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in underwriting and the construction industry. Emphasise any specific roles or projects that demonstrate your understanding of structural defects and risk assessment.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the insurance sector. Mention your familiarity with FCA regulations and how your skills align with the responsibilities outlined in the job description.
Highlight Relevant Skills: In your application, clearly outline your risk analysis skills, decision-making abilities, and customer-centric approach. Use specific examples to illustrate how you've successfully managed similar tasks in previous roles.
Proofread Your Application: Before submitting, carefully proofread your application for any spelling or grammatical errors. A polished application reflects your attention to detail, which is crucial for an Underwriter.
How to prepare for a job interview at Inclusion IQ LTD
✨Know Your Insurance Principles
Make sure you have a solid understanding of insurance principles, especially those related to structural defects. Brush up on your knowledge of underwriting processes and the specific regulations that govern the industry, as this will demonstrate your expertise and commitment to the role.
✨Showcase Your Risk Assessment Skills
Prepare to discuss your experience in risk assessment in detail. Be ready to provide examples of how you've evaluated risks in previous roles, particularly in relation to construction methods and potential defects. This will highlight your analytical skills and decision-making ability.
✨Demonstrate Strong Communication Skills
As you'll be liaising with brokers, clients, and technical surveyors, it's crucial to showcase your communication skills. Practice articulating complex information clearly and concisely, and be prepared to discuss how you've successfully collaborated with various stakeholders in the past.
✨Prepare for Numerical Questions
Given the importance of calculating premiums and handling diverse projects, expect numerical questions during the interview. Brush up on your numerical reasoning skills and be ready to solve problems or provide examples of how you've managed financial aspects in your previous roles.
