At a Glance
- Tasks: Underwrite diverse business, manage portfolios, and liaise with clients and brokers.
- Company: Join Allied World, a global leader in creative risk solutions with a supportive culture.
- Benefits: Enjoy a friendly work environment, opportunities for growth, and a focus on inclusivity.
- Why this job: Be part of a dynamic team that values progress and success while making an impact.
- Qualifications: 3-5 years of commercial underwriting experience and strong communication skills required.
- Other info: Opportunity to develop relationships in the London Market and beyond.
The predicted salary is between 36000 - 60000 £ per year.
At Allied World we have over 1,400 talented and loyal employees working in 20 offices globally who service clients throughout the world. We are focused on providing superior customer service and creative risk solutions, building long-term, mutually beneficial relationships. Our employees share our passion for progress and success, and we are looking for talented committed people to join our team. We take great pride in our culture, offering an inclusive, friendly and rewarding working environment, and are excited at the prospect of hiring for this role.
Description of the role:
This position is responsible for underwriting a diverse book of business, employing the methods necessary to meet projected profitability, GWP, and expense goals, management and growth of the overall portfolio of business within the appropriate underwriting discipline/guidelines, marketing and servicing of existing and potential insured’s.
Job Duties and Responsibilities:
- General underwriting functions including underwriting submission review, pricing analysis, setting of terms and conditions.
- Authorising of quotes in accordance with company guidelines.
- Responsible for timely and correct issuance of bound policies.
- Crafting of wordings and endorsements for authorisation by legal.
- Providing direction to the Assistant Underwriters in the timely processing of Policy/Endorsement wordings.
- Perform extensive account analysis according to underwriting guidelines which is to include thorough review of underwriting application/submission including reviewing requested terms and conditions.
- Active role in the development of business within UK Commercial, exploring opportunities and marketing within the London Market and in the UK regions as required.
- Accountable for the maintenance of underwriting files in an orderly and consistent manner and in accordance with the underwriting guidelines.
- Liaise with actuarial support to develop premium benchmarking and pricing models, with development of account pricing/recommendations where required.
- Liaise with Claims Department on any specific claim activity and overall market claim concerns which could potentially affect profitability.
- Stay current with respect to major market and industry issues and developments.
- Relationship management - external, via attendance at key, relevant client/broker meetings, and other social outings as applicable.
- Corresponding with brokers with respect to any outstanding information pursuant to binding.
- Delegation (and supervision) of work to Assistant Underwriters as deemed appropriate.
- Other duties as may be assigned.
Requirements:
- Required 3-5 years demonstrable experience underwriting Commercial business.
- Must be articulate, with exceptional communication and interpersonal skills – required for daily liaison with clients and brokers including delivering effective presentations and building strong working relationships.
- Highly computer literate within MS office applications and an advanced level proficiency using underwriting systems.
- Methodical approach to work, strong organization skills; capable of dealing with tight reporting deadlines and conflicting priorities.
- Overall team player with collaborative outlook.
Real Estate Underwriter - UK Commercial Division employer: Allied World
Contact Detail:
Allied World Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Real Estate Underwriter - UK Commercial Division
✨Tip Number 1
Familiarise yourself with the UK Commercial market and its key players. Understanding the landscape will help you engage in meaningful conversations during interviews and demonstrate your knowledge of current trends and challenges.
✨Tip Number 2
Network actively within the insurance industry, especially with professionals who work in underwriting or related fields. Attend industry events, webinars, or local meetups to build connections that could lead to referrals or insider information about the role.
✨Tip Number 3
Prepare to discuss specific underwriting scenarios and your approach to risk assessment. Being able to articulate your thought process and decision-making skills will set you apart from other candidates.
✨Tip Number 4
Showcase your communication and interpersonal skills by preparing examples of how you've successfully built relationships with clients or brokers in the past. This is crucial for a role that involves significant relationship management.
We think you need these skills to ace Real Estate Underwriter - UK Commercial Division
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Real Estate Underwriter position. Tailor your application to highlight relevant experience in underwriting commercial business.
Craft a Strong CV: Your CV should clearly outline your 3-5 years of experience in underwriting, focusing on specific achievements and skills that align with the job description. Use bullet points for clarity and ensure it is well-organised.
Write a Compelling Cover Letter: In your cover letter, express your passion for the role and the company. Highlight your communication skills and ability to build relationships, as these are crucial for the position. Be sure to mention any relevant experience in the London Market.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects your attention to detail, which is essential for an underwriting role.
How to prepare for a job interview at Allied World
✨Know Your Underwriting Basics
Make sure you brush up on your underwriting knowledge, especially in the commercial sector. Be prepared to discuss your experience with pricing analysis, submission reviews, and how you've met profitability goals in past roles.
✨Showcase Your Communication Skills
Since this role involves liaising with clients and brokers, practice articulating your thoughts clearly. Prepare examples of how you've built strong relationships in previous positions and how you handle client interactions.
✨Demonstrate Your Organisational Skills
Be ready to talk about how you manage your workload, especially under tight deadlines. Share specific strategies or tools you use to stay organised and ensure timely processing of policies and endorsements.
✨Stay Updated on Market Trends
Research current market issues and developments in the UK commercial insurance sector. Being knowledgeable about industry trends will show your commitment and help you engage in meaningful discussions during the interview.