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- Tasks: Underwrite and service risk insurance products while managing relationships with agents and brokers.
- Company: Join a collaborative and innovative company that enables possibilities.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Why this job: Make a real impact by helping clients achieve their goals through effective risk management.
- Qualifications: Experience in underwriting and strong relationship management skills required.
- Other info: Dynamic role with opportunities for growth in the commercial insurance market.
The predicted salary is between 36000 - 60000 £ per year.
With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibilityâ„ .
We are seeking an individual who receives general business direction, markets, underwrites, and services risk insurance products with some complexity within assigned geographic and product areas. The individual utilizes underwriting authority and market skills to retain existing business. Manages interfaces and relationships with independent agents and brokers to enhance and maintain business opportunities. Responsible for the business results of assigned book of business.
Key Responsibilities- Determines the desirability of accepting or rejecting business risks.
- Prices exposures in accordance with filed and approved rate levels, discretionary pricing mechanisms, and business unit guidelines.
- Identifies the need, recommends and evaluates additional risk assessment information including inspection, financial reports and statements.
- Coordinates individual risk underwriting actions with other departments to assure the highest level of customer satisfaction while meeting production and business goals.
- Performs product development and marketing activities including identifying producer relationships within assigned market to optimize best solutions for distribution, identifies and suggests new and modified products, identifies producers for business/marketing programs, and analyses producers and market opportunities.
- Maintains ongoing liaison with producers to obtain supplemental underwriting information, evaluate risks, decline risks, analyse and interpret coverage, explain underwriting requirements and expectations, and present terms.
- Regularly interfaces with customers to provide service and to keep abreast of customer issues.
- Sets ceded reinsurance actions in accordance with Arch Insurance and business unit guidelines.
- Planning and product development
- Client relationship management
- Technical and analytical skills
- Regulatory & compliance awareness
- Problem solving, negotiation & decision making
University degree and professional certification desired with 5-8 years working knowledge and understanding of ISO rating and rules. Minimum 3 years relevant experience in an underwriting position in the Commercial Insurance Market. Demonstrated competence in maintaining broker/client relationships.
Underwriter, Existing Business in Colchester employer: Arch Capital Group
Contact Detail:
Arch Capital Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter, Existing Business in Colchester
✨Tip Number 1
Networking is key! Get out there and connect with industry professionals. Attend events, join online forums, or even reach out on LinkedIn. The more people you know, the better your chances of landing that underwriter role.
✨Tip Number 2
Practice your pitch! You never know when you'll meet someone who could help you land a job. Be ready to explain your experience and what makes you a great fit for the underwriting position in a clear and engaging way.
✨Tip Number 3
Follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the role and keeps you fresh in their minds. Plus, it’s a great chance to reiterate why you’re the perfect fit for the team.
✨Tip Number 4
Don’t forget to apply through our website! We love seeing applications come directly from candidates who are excited about our company culture. It shows initiative and helps us get to know you better right from the start.
We think you need these skills to ace Underwriter, Existing Business in Colchester
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that match the Underwriter role. Highlight your underwriting experience, especially in the Commercial Insurance Market, and any relevant certifications you have.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting and how your background aligns with our company culture of collaboration and innovation. Be genuine and let your personality come through.
Showcase Your Analytical Skills: Since this role involves evaluating risks and pricing exposures, be sure to mention any specific examples where you've successfully used your analytical skills in past positions. We love seeing how you’ve tackled complex problems!
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 you’re keen on joining our team!
How to prepare for a job interview at Arch Capital Group
✨Know Your Underwriting Basics
Make sure you brush up on your underwriting principles and practices. Understand the key responsibilities of the role, especially around risk assessment and pricing. Being able to discuss how you determine the desirability of accepting or rejecting business risks will show your expertise.
✨Showcase Your Relationship Skills
Since this role involves managing relationships with independent agents and brokers, be prepared to share examples of how you've successfully built and maintained these connections in the past. Highlight any specific strategies you've used to enhance business opportunities.
✨Demonstrate Problem-Solving Abilities
Prepare to discuss scenarios where you've had to solve complex problems or make tough decisions in your previous roles. Use the STAR method (Situation, Task, Action, Result) to structure your answers and illustrate your analytical skills.
✨Stay Updated on Industry Trends
Familiarise yourself with current trends in the commercial insurance market, including regulatory changes and new products. Showing that you're proactive about staying informed will demonstrate your commitment to the industry and your potential value to the company.
