At a Glance
- Tasks: Engage with brokers, assess risks, and set premiums for healthcare insurance.
- Company: Dynamic insurance firm with a focus on innovation and teamwork.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Opportunities for career advancement and continuous learning.
- Why this job: Join a vital industry and make a difference in people's lives through insurance.
- Qualifications: 3+ years of underwriting experience and strong communication skills.
The predicted salary is between 36000 - 60000 £ per year.
Duties and Responsibilities:
- Respond to enquiries from Brokers / Intermediaries in a courteous and helpful manner, ensuring that all information to enable the underwriting of any risk is obtained and communicated.
- Complete the key tasks of securing appropriate information and facts to identify client(s) requirements and provide & communicate quotations.
- Using the information and facts gathered, or presented by the ceding Brokers / Intermediaries, rate/set premiums, apply terms and conditions in accordance with Binding Authorities under which the jobholder has been assigned underwriting permissions.
- The jobholder, in setting rates/premiums, will utilise the company's quotation system or rating guides.
- If any quotation is accepted verbally, the jobholder will issue written confirmation, providing full details of cover, and where applicable seek proposal(s) for completion or Statement(s) of Fact(s) for checking against underwriting facts, information resting on file.
- Liase with Operations to prepare and issue invoices, policy documents, and update client records.
- The jobholder will share responsibility for dealing with any actions attaching to existing clients on mid-term adjustments and claims, occasionally referring such matters to senior colleagues.
- Maintain the system for raising renewals, which should be actioned 4-6 weeks before renewal date, produce renewal documentation and issue renewal documentation upon receipt of instructions to renew.
- Ensure that files and system records are created for new business and updated following all amendments notified by ceding Brokers / Intermediaries.
- Ensure that credit control rules are followed and that cash flow objectives are achieved.
- Maintain secure, efficient, and accurate filing systems.
- Other duties and responsibilities may be required.
Person Specification:
- 3+ years’ experience underwriting in the London market.
- Strong marketing, negotiating, and presentation skills.
- Knowledge and understanding of standard market policy and endorsement wordings.
- Professional Insurance Designation such as ACII/FCII desirable or training towards.
Healthcare Underwriter in City of London employer: Allied World
As a leading employer in the healthcare underwriting sector, we pride ourselves on fostering a collaborative and supportive work environment that encourages professional growth and development. Our London-based team benefits from competitive remuneration, comprehensive training programmes, and a culture that values innovation and teamwork, making it an ideal place for those seeking a rewarding career in insurance.
StudySmarter Expert Advice🤫
We think this is how you could land Healthcare Underwriter in City of London
✨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.
✨Use LinkedIn to Your Advantage
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 Allied World). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨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 Allied World. 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 Healthcare Underwriter in City of London
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 Allied World.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Allied World. 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 Allied World
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Allied World 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 Allied World, 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 Allied World'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.
