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- Tasks: Support the Property Underwriting team with data entry and compliance tasks.
- Company: Join Ascot Group, a leading specialty risk underwriting organisation.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Why this job: Be part of a collaborative team that values innovation and integrity.
- Qualifications: Attention to detail and willingness to learn about underwriting processes.
- Other info: Dynamic work environment with potential for career advancement.
The predicted salary is between 30000 - 42000 £ 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 Summary
To provide complete underwriting support for the Property Underwriting team.
Detailed Duties
- Be present at all stages of the insurance broker process where possible
- Populate risk template with relevant data
- Enter mandatory risk details onto S2000
- Ensure insured name is correct on S2000
- Complete 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 Underwriters and Assistants in ensuring overall Syndicate SLA’s are maintained
Scan 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
- Complete annual compliance training
- Compliance bulletin review and action
- Assist with ensuring downgrade clauses comply with Ascot’s policy and highlighted correctly on front sheet
- Assist with the purchasing of reinsurance placements and any issues that may arise
- Notify the relevant team of any endorsements that affect the facultative reinsurance
- Understand 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
Chase the broker for outstanding schedules when required
- Attend monthly administration and Claims meetings when required
Credit Control
- Review the weekly credit control report and action; refer risks over 31 days overdue to the underwriter; send relevant comments on the chasing of premium to Xchanging; review inward XL premium adjustments
Workflow Management
- Review partial policies
- Un-scanned slips
- Quotations
Reporting
- Claims data – report discrepancies between submissions and S2000 data
- Aggregation reports
- Quarterly class reports
- UMC Reports
- UAS Reports
Review and action exception reports
Client Management
- Attend client and broker meetings when requested
- Take notes and publish to S2000
Ensure action points are followed up
Facility Management
- Chase and process relevant bordereaux
- Reconcile estimated premium to actual
- Review signed premium against estimated premium
Assist in scanning of delegated underwriting form
Query Resolution
- Slips within SLA
- 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 note 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.
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Underwriting Assistant - Property employer: ASCOT GROUP
Contact Detail:
ASCOT GROUP Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriting Assistant - Property
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those connected to Ascot Group. A friendly chat can open doors that a CV just can't.
✨Tip Number 2
Prepare for interviews by understanding the Ascot Way. Familiarise yourself with their mission and values, and think about how your skills align with their collaborative and innovative culture.
✨Tip Number 3
Showcase your passion for underwriting! During interviews, share examples of how you've tackled challenges or contributed to team success. It’s all about demonstrating that you’re a great fit for their entrepreneurial spirit.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re serious about joining the Ascot team.
We think you need these skills to ace Underwriting Assistant - Property
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that align with the Underwriting Assistant role. Highlight any relevant experience in underwriting or insurance, and don’t forget to showcase your attention to detail!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about joining Ascot Group and how you embody the values of collaboration and integrity. Keep it concise but impactful!
Showcase Your Tech Savvy: Since the role involves using various systems like S2000 and others, mention any relevant tech skills you have. If you’ve worked with similar software before, let us know – it’ll give you an edge!
Apply Through Our Website: We encourage you to apply directly through our official careers page. It’s the best way to ensure your application gets to the right people and shows you’re serious about joining our team!
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 property insurance. Familiarise yourself with terms like risk assessment, premium calculations, and compliance requirements. This will show that you’re not just interested in the role but also have a solid foundation to build upon.
✨Showcase Your Attention to Detail
Given the nature of the role, attention to detail is crucial. Prepare examples from your past experiences where your meticulousness made a difference. Whether it was ensuring accuracy in documentation or catching errors before they became issues, these anecdotes will highlight your suitability for the position.
✨Demonstrate Collaborative Spirit
Ascot Group values teamwork and collaboration. Think of instances where you successfully worked within a team to achieve a common goal. Be ready to discuss how you can contribute to a collaborative culture and support your colleagues in achieving their objectives.
✨Prepare Questions About The Ascot Way
Research the Ascot Way and be prepared to discuss how its principles resonate with you. Ask insightful questions about how the company fosters agility, resilience, and innovation in its underwriting processes. This shows your genuine interest in the company’s mission and your eagerness to be part of their journey.