At a Glance
- Tasks: Assist in underwriting for Offshore Energy, ensuring policies are accurate and timely.
- Company: Join Allianz Commercial, a leader in inclusive insurance solutions.
- Benefits: Enjoy hybrid working, competitive pay, bonuses, and lifelong learning opportunities.
- Other info: Be part of a supportive environment that values diversity and innovation.
- Why this job: Make a real impact in a fast-paced team while building valuable relationships.
- Qualifications: Experience in corporate insurance and strong analytical skills required.
The predicted salary is between 60000 - 75000 £ per year.
This role will primarily focus on assisting on the Upstream and Offshore Renewables Portfolio. This role will also work closely with the Onshore Energy team, as part of the wider UK Natural Resources team.
Your Team
Our Underwriting team is responsible for reviewing and approving insurance risks within their area of expertise. Each team member has the authority to make decisions and works closely with other departments to ensure policies are processed correctly and on time. They also build strong relationships with brokers, acting as trusted partners and helping them find the best solutions for their clients. It's a collaborative, fast-moving team where you'll be supported to grow, take ownership of your work, and make a real impact. If you enjoy working with people and solving problems, this could be the right team for you.
The Impact You Will Have
As a key member of the team, you will take ownership of the underwriting process within your area of expertise, using your authority to make sound, independent decisions. Your work will directly contribute to the profitability and efficiency of the business by ensuring that policies are reviewed, priced, and issued accurately and on time. You will collaborate with other departments to support smooth operations and maintain high service standards. By building and maintaining strong relationships with brokers, you'll play a vital role in strengthening our market presence and delivering tailored solutions to meet client needs.
Some of your specific responsibilities could include:
- Support all underwriting activities within the Offshore Energy line of business
- Assist in achieving profitability targets for new and renewal business
- Contribute to contract certainty for all accounts at inception, ensuring precision in underwriting processes and procedures
- Contribute to the development and execution of the regional underwriting strategy
- Collaborate with our Risk Consulting, Claims, Distribution and Operations teams to enhance the overall underwriting process
- Prepare management reporting and analytics and ensure high levels of data quality
- Foster positive relationships with key clients, brokers and internal and external stakeholders
What You'll Bring to the Role
You'll bring prior experience in corporate insurance in the London market, ideally in Offshore Energy Underwriting. You also bring:
- Good understanding of the Offshore Energy insurance market and competitor landscape
- Understanding of the policy administration life cycle, information collection, policy issuance, premium bookings and credit control
- Commercial acumen and enjoy building and maintaining relationships with external contacts such as brokers and clients
- Awareness of the legal and regulatory environment
- Strong communication skills with the ability to collaborate effectively as part of a team
- Sense of initiative and willingness to develop technicity
- Skilled at data analytics, preparing reports and presentations
- Expert proficiency in Excel (e.g. pivot tables, V look-up), Power BI and Microsoft Office, and a willingness to learn and explore how AI can enhance your role and the broader organization
A willingness to learn and explore how AI can enhance your role and the broader organization is expected.
What's in it for you?
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognises the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.
From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.
With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.
Allianz Commercial is the centre of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.
At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matter, and nurtures a culture grounded in integrity, fairness, inclusion and trust. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.
People with disabilities: We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com.
Junior Underwriter, Offshore Energy employer: Allianz Commercial
Allianz Commercial is an excellent employer, offering a dynamic work environment in the heart of London and Toronto. With a strong focus on employee growth, you will benefit from a hybrid working model, competitive salary, and comprehensive benefits, all while being part of a collaborative culture that values innovation and excellence in the financial services sector.
StudySmarter Expert Advice🤫
We think this is how you could land Junior Underwriter, Offshore Energy
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
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Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Allianz Commercial). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
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✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Allianz Commercial. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Junior Underwriter, Offshore Energy
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Allianz Commercial.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Allianz Commercial. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Allianz Commercial
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Allianz Commercial to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Allianz Commercial, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Allianz Commercial's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
