At a Glance
- Tasks: Perform underwriting assessments and support daily operational tasks for high net worth cases.
- Company: Leading insurance firm with a focus on innovation and excellence.
- Benefits: Attractive salary, comprehensive health benefits, and opportunities for professional growth.
- Other info: Collaborative environment with a strong emphasis on process improvement.
- Why this job: Join a dynamic team and make impactful decisions in the insurance industry.
- Qualifications: Bachelor’s degree and 10 years of underwriting experience required.
The predicted salary is between 70000 - 90000 € per year.
Perform underwriting assessments for high net worth and non-HNW cases within assigned authority and support daily operational tasks. Provide underwriting-related support for ad-hoc tasks.
Key responsibilities include:
- Underwrite large sum assured applications (formal and preliminary) and communicate decisions to intermediaries within agreed TAT, ensuring competitive underwriting decisions and minimal requirements. This includes negotiating with reinsurers for favorable terms.
- Ensure cases are underwritten within the agreed TAT.
- Review complex appeal cases and coach underwriters for large sum assured cases underwriting.
- Liaise with reinsurers on referral cases beyond local authority.
- Resolve enquiries and issues with channel management.
- Actively handle own case appeals, postponements, and declines, directly communicating rationale and alternatives to distribution channels.
- Review and identify areas of process improvement or operational efficiency within the New Business department; support the Team Lead in driving process changes.
- Participate in Quality Assurance reviews (audit of cases) where applicable.
- Instill a higher risk awareness culture and collaborate with second liners on roles and support needed.
- Provide underwriting-related support for business development projects as needed.
- Perform data or trend analysis when required.
Requirements:
- Minimum bachelor’s degree.
- Minimum 10 years of underwriting experience in both direct and reinsurance capacities.
- Additional advantage: high underwriting authority for high-net-worth products.
Underwriting, Principal in London employer: AIA
As a leading employer in the underwriting sector, we offer a dynamic work environment that fosters professional growth and collaboration. Our commitment to employee development is reflected in our comprehensive training programmes and opportunities for advancement, particularly in high net worth underwriting. Located in a vibrant area, we promote a culture of innovation and support, ensuring our team members are equipped to excel in their roles while enjoying a healthy work-life balance.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting, Principal in London
✨Tip Number 1
Network like a pro! Reach out to industry contacts and attend events where you can meet people in underwriting. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by brushing up on your underwriting knowledge. Be ready to discuss your experience with high net worth cases and how you've achieved KPIs in the past. Show them you’re the expert they need!
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Use our website to find roles that excite you and match your skills, especially in underwriting.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the role and keeps you fresh in their minds as they make their decision.
We think you need these skills to ace Underwriting, Principal in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights your underwriting experience, especially with high net worth cases. We want to see how your skills align with the key responsibilities mentioned in the job description.
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Mention specific examples of how you've achieved KPIs or improved processes in your previous roles.
Showcase Your Negotiation Skills:Since negotiating with reinsurers is part of the job, include any relevant experiences where you’ve successfully negotiated terms. We love seeing candidates who can demonstrate their ability to secure favourable outcomes.
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at AIA
✨Know Your Underwriting Inside Out
Make sure you brush up on your underwriting knowledge, especially regarding high net worth cases. Be prepared to discuss your past experiences and how you've successfully managed large sum assured applications. This will show that you’re not just familiar with the basics but can also handle complex scenarios.
✨Demonstrate Your Negotiation Skills
Since negotiating with reinsurers is a key part of the role, think of examples where you've successfully negotiated terms in the past. Be ready to explain your approach and the outcomes. This will highlight your ability to secure favourable terms and make competitive decisions.
✨Showcase Your Process Improvement Mindset
The company values operational efficiency, so come prepared with ideas or examples of how you've identified areas for improvement in previous roles. Discuss any initiatives you've led or contributed to that enhanced processes, as this will demonstrate your proactive attitude.
✨Prepare for Case Management Scenarios
Expect to be asked about how you manage your case load and handle appeals, postponements, and declines. Think through specific situations where you’ve had to communicate difficult decisions and how you provided alternatives. This will showcase your problem-solving skills and your ability to maintain strong relationships with distribution channels.
