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- Tasks: Support the Marine Underwriting team with data entry and compliance tasks.
- Company: Join Ascot Group, a leading specialty risk underwriting organisation.
- Benefits: Full-time role with opportunities for growth in a collaborative environment.
- Why this job: Be part of a dynamic team that values creativity and client-centric solutions.
- Qualifications: No prior experience required; just a passion for finance and teamwork.
- Other info: Great entry-level opportunity in the insurance industry with potential for career advancement.
The predicted salary is between 28800 - 43200 £ per year.
This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations. Designed as a modern‑era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross‑product and cross‑platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric. Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world‑class service — both pre‑ and post‑claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Purpose
To provide complete underwriting support for the Marine Underwriting team.
Detailed Duties
- Underwriting
- Where possible be present at all stages of the insurance broker.
- Populate risk template with relevant data.
- Entry of mandatory risk details onto S2000.
- Ensure insured name is correct on S2000.
- Completion of Electronic Front Sheet (EFS).
- Ensure inclusion of Technical Premium and Rate Movement onto S2000.
- Make sure relevant documentation is scanned against the S2000 reference.
- Support of Underwriters and Assistants in ensuring overall Syndicate SLA’s are maintained.
- Scanning relevant Underwriter sign off when required.
- Compliance
- SLAs for slips and endorsements.
- Assist with Lloyds licensing requirements.
- Send relevant slips for pre‑bind check and follow up any fails that may occur with the underwriter/broker.
- Assist with completion of sanctions checks.
- Completion of annual compliance training.
- Compliance bulletin review and action.
- Assist with ensuring downgrade clauses comply with Ascot’s policy and highlighted correctly on front sheet.
- Facultative Reinsurance Purchasing
- Assist with the purchasing of reinsurance placements and any issues that may arise.
- Make sure that any endorsements that affect the facultative reinsurance are notified to the relevant team.
- Understanding of current RI purchase procedures.
- Renewals
- Prepare renewals in advance.
- Ensure that all renewals are actioned including all non‑renewed premiums.
- Aggregates
- Make sure the correct aggregation boxes have been ticked on front sheets, and if changed then the right reason for aggregation change selected.
- Ensure all schedules are available and passed to Polo at the time of underwriting.
- Where required chase the broker for outstanding schedules.
- Attendance
- Attendance at the monthly administration and Claims meetings when required.
- Credit Control
- Review the weekly credit control report and action.
- For risks over 31 days overdue refer to the underwriter.
- When applicable send relevant comments on the chasing of premium to Xchanging.
- Review inward XL premium adjustments.
- Workflow Management
- Review of partial policies.
- Un‑scanned slips.
- Promised lines.
- Quotations.
- Reporting
- Claims data - reporting discrepancies between submissions and S2000 data.
- Aggregation reports.
- Quarterly class reports.
- UMC Reports.
- UAS Reports.
- Review and action of exception reports.
- Client Management (when requested)
- Attend client and broker meetings.
- Take notes and publishing to S2000.
- Ensure action points are followed up.
- Facility Management
- Chase and process relevant bordereaux.
- Reconciliation of estimated premium to actual.
- Review of signed premium against estimated premium.
- Assist in scanning of delegated underwriting form.
- Query Resolution
- Slips within SLA.
- Endorsements.
- Aggregation.
- USM’s.
- BST.
- Polo.
- Velonetic.
- Working Knowledge of Systems
- IMR.
- Crystal/Lloyds QA Tool.
- S2000 (Subscribe).
- Swordfish.
- GAAP.
- Other Duties
- Ad‑hoc duties as directed by line management.
- Implementation of new procedures.
Please be aware that Ascot Group’s job opportunities will be posted on our official careers page. All official communication comes from @ascotgroup.com email addresses. If you receive a job offer or recruitment communication from Ascot Group that you suspect might be fraudulent, do not hesitate to contact us directly to verify its legitimacy. We will never ask for payment or sensitive personal information during any stage of the recruitment process. Your privacy and trust are of utmost importance to us, and we strive to ensure that you have a positive experience with Ascot Group.
Seniority level: Entry level
Employment type: Full-time
Job function: Finance and Sales
Industries: Insurance
Underwriting Assistant – Marine Hull in City of London employer: ASCOT GROUP
Contact Detail:
ASCOT GROUP Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriting Assistant – Marine Hull in City of London
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those at Ascot Group. A friendly chat can open doors and give you insights that a job description just can't.
✨Tip Number 2
Prepare for interviews by researching common underwriting scenarios. Think about how you'd handle them and be ready to share your thought process. We want to see your problem-solving skills in action!
✨Tip Number 3
Show your enthusiasm for the role! When you get the chance to speak with someone from Ascot, let them know why you're excited about the Underwriting Assistant position and how you align with their values.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re serious about joining the Ascot team.
We think you need these skills to ace Underwriting Assistant – Marine Hull in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Underwriting Assistant role. Highlight any relevant experience in underwriting or finance, and don’t forget to showcase your attention to detail – it’s key in this field!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about marine underwriting and how your skills align with our mission at Ascot Group. Keep it concise but impactful.
Showcase Your Team Spirit: We love collaboration at Ascot! In your application, mention any experiences where you’ve worked as part of a team. This will show us that you fit right into our inclusive culture.
Apply Through Our Website: Don’t forget to apply through our official careers page! It’s the best way to ensure your application gets to us directly. Plus, you’ll find all the details you need about the role there.
How to prepare for a job interview at ASCOT GROUP
✨Know Your Underwriting Basics
Before the interview, brush up on your understanding of underwriting principles, especially in marine hull insurance. Familiarise yourself with key terms and processes mentioned in the job description, like risk templates and compliance checks. This will show that you're genuinely interested and ready to contribute.
✨Showcase Your Attention to Detail
Given the nature of the role, attention to detail is crucial. Prepare examples from your past experiences where you successfully managed complex data or ensured compliance with regulations. Highlighting these skills will demonstrate your fit for the position.
✨Prepare Questions About The Ascot Way
Ascot Group values collaboration and innovation. Think of insightful questions about their unique Fusion Model or how they maintain client relationships. This not only shows your interest in the company culture but also your eagerness to be part of their mission.
✨Practice Your Communication Skills
As an Underwriting Assistant, you'll need to communicate effectively with underwriters and clients. Practice articulating your thoughts clearly and concisely. Consider doing mock interviews with a friend to build confidence and refine your delivery.
