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- Tasks: Develop new business and manage existing XOL clients while ensuring sound underwriting standards.
- Company: Join Allianz, a global leader in insurance and asset management.
- Benefits: Enjoy life assurance, health plans, hybrid working, and employee share incentives.
- Why this job: Be part of a forward-thinking team that embraces technology and innovation.
- Qualifications: Experience in underwriting and strong communication skills are essential.
- Other info: Dynamic work environment with opportunities for growth and inclusivity.
The predicted salary is between 28800 - 43200 £ per year.
The XOL Underwriter is responsible for developing new business and servicing existing XOL clients while maintaining sound commercial and risk underwriting standards. This role involves contributing to the development of the XOL product within the NEUR region, ensuring that the underwriting practices align with the strategic goals of the organisation.
Responsibilities
- New Business Development: Cultivate strong relationships with brokers to generate new business inquiries, including attending market and networking events. Underwrite and price new business inquiries using the XoL pricing model and market knowledge. Conduct credit limit underwriting for prechecks to assess potential risks.
- Account Management: Service and renew the existing portfolio of policies through regular meetings with insureds, brokers, and co-insurers. Draft policy wordings and endorsements to ensure clarity and compliance. Perform credit limit underwriting and structure pricing for renewal terms. Monitor overdue reports and manage claims efficiently.
- Risk Underwriting: Decide on credit limit requests promptly and consistently using available information in IRP and market knowledge. Monitor risk exposure, trade sector evolution, and develop action plans as necessary. Request additional information from the Risk office to support underwriting decisions.
- Collaboration With Internal Stakeholders: Create and submit credit limit recommendations to the Regional Risk Director. Develop and submit new business and renewal terms recommendations to GMMCD. Liaise with local risk offices for risk regrading and obtaining recommendations.
- Market Knowledge: Expertise in dedicated business industries and understanding of market dynamics.
Required Qualifications and Skills
- Business Expertise: Ability to structure solutions when faced with complex business cases. Strong business and finance assessment skills. Proven knowledge and experience in underwriting. Demonstrates commercial awareness and strategic thinking.
- Interpersonal Skills: Effective communicator with the ability to persuade and justify decisions. Capable of holding and facilitating client visits and broker meetings, including handling challenging discussions with senior stakeholders.
- Languages: Fluent in English, with proficiency in additional languages considered a plus.
Preferred Qualifications: Experience in both risk and commercial underwriting functions, providing a comprehensive understanding of the underwriting process and risk management strategies.
What We Offer:
- Life assurance
- Health cash plan
- Income Protection
- Hybrid working
- Employee Share Incentive Plan
- Various discounts on insurance through the Allianz Partnership
- And much more
We are seeking candidates who are naturally curious and have a keen interest in technology and innovation. The ideal candidate should demonstrate a proactive approach to learning and adapting to new tools and technologies, especially Artificial Intelligence (AI) powered tools, showcasing a forward-thinking mindset that aligns with our vision for growth and progress.
XOL UNDERWRITER employer: Allianz Trade in UK & Ireland
Contact Detail:
Allianz Trade in UK & Ireland Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land XOL UNDERWRITER
✨Tip Number 1
Networking is key! Get out there and attend industry events, meet brokers, and build those relationships. The more connections you make, the better your chances of landing that XOL Underwriter role.
✨Tip Number 2
Show off your market knowledge! When you get the chance to chat with potential employers, demonstrate your understanding of the XOL product and how it fits into the NEUR region. This will set you apart from the competition.
✨Tip Number 3
Prepare for those tricky discussions! Brush up on your interpersonal skills and be ready to justify your underwriting decisions. Being able to communicate effectively with senior stakeholders can really make a difference.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive and eager to join our team.
We think you need these skills to ace XOL UNDERWRITER
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the XOL Underwriter role. Highlight your experience in underwriting and any relevant skills that align with the job description. We want to see how you can contribute to our team!
Showcase Your Interpersonal Skills: Since this role involves a lot of communication with brokers and clients, don’t forget to emphasise your interpersonal skills. Share examples of how you've successfully managed relationships or navigated challenging discussions in the past.
Demonstrate Market Knowledge: We’re looking for candidates who understand market dynamics and can apply that knowledge to underwriting decisions. Include any specific industry expertise or insights you have that could benefit our XOL product development.
Apply Through Our Website: To make sure your application gets the attention it deserves, apply directly through our website. It’s the best way for us to review your application and get you on board with our amazing team!
How to prepare for a job interview at Allianz Trade in UK & Ireland
✨Know Your XOL Inside Out
Before the interview, make sure you understand the XOL product and its significance in the NEUR region. Familiarise yourself with the latest market trends and how they impact underwriting practices. This knowledge will help you demonstrate your expertise and show that you're genuinely interested in the role.
✨Build Rapport with Brokers
Since relationship-building is key for this position, think of ways to discuss your past experiences with brokers. Prepare examples of how you've successfully cultivated relationships in previous roles. This will showcase your interpersonal skills and ability to generate new business inquiries.
✨Showcase Your Risk Assessment Skills
Be ready to discuss your approach to credit limit underwriting and risk assessment. Prepare specific examples where you've made decisions based on market knowledge and data analysis. This will highlight your strategic thinking and commercial awareness, which are crucial for the role.
✨Demonstrate Your Curiosity and Adaptability
The company values candidates who are curious and eager to learn about new technologies. Be prepared to talk about any AI tools or innovative solutions you've used in your previous roles. This will align with their vision for growth and show that you're forward-thinking.
