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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 interpersonal skills are essential.
- Other info: Dynamic work environment with opportunities for growth and learning.
The predicted salary is between 36000 - 60000 £ per year.
Overview Summary of Role: 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.
What We Are Looking For
- Market Knowledge: Expertise in dedicated business industries and understanding of market dynamics.
- 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. As we navigate the future, we value individuals who are eager to stay updated with the latest digital trends and advancements. 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 in City of Westminster employer: Allianz
Contact Detail:
Allianz Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Xol Underwriter in City of Westminster
✨Tip Number 1
Get networking! Attend industry events and connect with brokers to build those all-important relationships. The more people you know, the better your chances of landing that XOL Underwriter role.
✨Tip Number 2
Show off your market knowledge! When chatting with potential employers, drop in some insights about current trends and how they impact underwriting. This will demonstrate your expertise and make you stand out.
✨Tip Number 3
Practice your pitch! Be ready to explain your underwriting experience and how you've tackled complex business cases. Confidence is key when you're discussing your skills with senior stakeholders.
✨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 tech-savvy, so show us what you've got!
We think you need these skills to ace Xol Underwriter in City of Westminster
Some tips for your application 🫡
Show Off Your Market Knowledge: When you're writing your application, make sure to highlight your expertise in the business industries relevant to the XOL role. We want to see how well you understand market dynamics and how you can apply that knowledge to our underwriting practices.
Be Clear and Concise: Keep your application straightforward and to the point. We appreciate clarity, so avoid jargon and ensure your experience and skills shine through without unnecessary fluff. This will help us see your potential as a strong communicator.
Tailor Your Application: Don’t just send a generic application! Take the time to tailor your CV and cover letter to reflect the specific responsibilities and qualifications mentioned in the job description. We love seeing candidates who take the initiative to align their experiences with what we’re looking for.
Apply Through Our Website: We encourage you to apply directly 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 us you’re keen on joining our team!
How to prepare for a job interview at Allianz
✨Know Your Market Inside Out
Before the interview, dive deep into the market dynamics relevant to the XOL underwriting role. Familiarise yourself with current trends, challenges, and opportunities in the NEUR region. This knowledge will not only impress your interviewers but also help you articulate how you can contribute to their strategic goals.
✨Showcase Your Relationship-Building Skills
Since cultivating strong relationships with brokers is key, prepare examples of how you've successfully built and maintained professional relationships in the past. Think about specific instances where your interpersonal skills led to new business opportunities or resolved complex issues.
✨Demonstrate Your Underwriting Expertise
Be ready to discuss your experience in both risk and commercial underwriting. Prepare to explain your approach to credit limit requests and how you assess potential risks. Highlight any specific tools or models you've used, especially if they relate to the XoL pricing model.
✨Embrace Technology and Innovation
Given the emphasis on technology and AI in the job description, come prepared to discuss how you've adapted to new tools in your previous roles. Share examples of how you've leveraged technology to enhance your underwriting processes or improve client interactions, showcasing your proactive approach to learning.
