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For Companies At a Glance
- Tasks: Support underwriting processes and ensure compliance while collaborating with a dynamic team.
- Company: Join Ascot Group, a leading specialty risk underwriting organisation with a modern approach.
- Benefits: Full-time role with opportunities for growth in a collaborative and inclusive environment.
- Why this job: Be part of a team that values creativity and innovation in the insurance industry.
- Qualifications: No prior experience required; just a passion for finance and teamwork.
- Other info: Exciting entry-level position with potential for career advancement.
The predicted salary is between 30000 - 42000 £ per year.
Overview
Join to apply for the Underwriting Assistant – Binders role at Ascot Group. 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.
Responsibilities
- Underwriting
- Where possible be present at all stages of the insurance broker
- 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 licencing 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 Capita 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
- Capita
- Xchanging
- Working Knowledge of Systems
- IMR
- Crystal/Lloyds QA Tool
- S2000 (Subscribe)
- Swordfish
- GAAP
- Other duties
- Ad-hoc duties as directed by line management.
Qualifications
- Seniority level: Entry level
- Employment type: Full-time
- Job function: Finance and Sales
- Industries: Insurance
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Underwriting Assistant - Binders employer: ASCOT GROUP
Contact Detail:
ASCOT GROUP Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriting Assistant - Binders
✨Tip Number 1
Network like a pro! Reach out to people in the insurance 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 understanding the Ascot Way. Familiarise yourself with their values and how they operate. This will help you show that you're not just looking for any job, but that you genuinely want to be part of their team.
✨Tip Number 3
Practice your responses to common interview questions, but keep it natural. We want you to sound confident and authentic, so don’t just memorise answers—make them your own!
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re serious about joining the Ascot family. Let’s get you that Underwriting Assistant role!
We think you need these skills to ace Underwriting Assistant - Binders
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Underwriting Assistant role. Highlight any relevant experience or skills that align with the job description, especially in underwriting and compliance. We want to see how you fit into our collaborative culture!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to express your passion for the insurance industry and why you’re excited about joining Ascot Group. Let us know how your values align with The Ascot Way.
Be Clear and Concise: When filling out your application, keep your language clear and concise. Avoid jargon unless it’s relevant to the role. We appreciate straightforward communication that gets to the point!
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the Underwriting Assistant position. We can’t wait to hear from you!
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 and processes. Familiarise yourself with terms like 'facultative reinsurance' and 'S2000'. This will show that you’re not just interested in the role but also have a foundational knowledge that can help you hit the ground running.
✨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 documentation or compliance tasks. Highlight how you ensured accuracy and met deadlines, as this will resonate well with the interviewers.
✨Demonstrate Team Spirit
Ascot Group values collaboration, so be ready to discuss how you’ve worked effectively in teams before. Share specific instances where you contributed to a group project or supported colleagues, emphasising your ability to thrive in a collaborative environment.
✨Prepare Questions About Their Culture
Research Ascot Group’s culture and values, particularly 'The Ascot Way'. Prepare thoughtful questions about how they foster an inclusive and entrepreneurial environment. This shows your genuine interest in their mission and helps you assess if it’s the right fit for you.
