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- Tasks: Join a dynamic team to support underwriting strategies and analyse data for risk assessment.
- Company: Avencia Consulting partners with a top Fortune 500 insurer, driving innovation in the insurance sector.
- Benefits: Gain valuable experience in a collaborative environment with opportunities for professional growth.
- Why this job: Be part of a motivated team aiming to lead in W&I SME risks while fostering innovation.
- Qualifications: No prior W&I experience needed; strong analytical skills and a passion for learning are essential.
- Other info: Work closely with experienced underwriters and develop skills in policy negotiation.
The predicted salary is between 36000 - 60000 £ per year.
Avencia consulting is partnered with a leading insurer and Fortune 500 company who are looking to hire an Assistant Underwriter in their London office.
An exciting opportunity has arisen for an Assistant Underwriter to join the W&I team in London. The team, established in 2022, consists of seven members, including the Head of W&I, Senior Underwriter, and Underwriters. Since 2014, PFR has supported coverholders in transactional liability, shaping a strategy to underwrite SME risks (GBP/USD/EUR 3m-300m) directly. The team leverages data, insights, and global resources to expand across the UK, Europe, and beyond.
The ideal candidate is organised, detail-oriented, and eager to learn, joining a highly motivated team aiming to become a market leader in W&I SME risks while driving innovation in portfolio construction, policy development, and IT solutions.
What you'll be doing:
- Contributing to the W&I underwriting strategy to establish a market-leading team within the W&I marketplace.
- Review and assist in underwriting new risks using a technical rating model and coverage guidelines.
- Support operational efficiency by coordinating broker submissions, organising deadlines, and streamlining workflow.
- Analyse historical claims and underwriting data to identify trends, generate insights, and refine risk assessment methodologies.
- Build and maintain strong relationships with brokers and distribution partners, acting as a reliable point of contact.
- Foster internal collaboration across underwriting, claims, and operational teams to support business goals and team culture.
- Develop skills in negotiating policy terms and conditions.
Our must haves:
- Develop an understanding of W&I underwriting by working with experienced underwriters. Prior W&I insurance experience is not required, but insurance, legal, accounting, tax, or M&A experience is preferred.
- Strong analytical skills and attention to detail, especially when reviewing broker submissions and underwriting information.
- Excellent interpersonal skills with the confidence to build and maintain relationships both internally and externally.
- Adaptable mindset and driven to improve operational efficiency.
Assistant Underwriter employer: Avencia Consulting Services Ltd
Contact Detail:
Avencia Consulting Services Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Underwriter
✨Tip Number 1
Familiarise yourself with the W&I insurance landscape. Understanding the key players, trends, and challenges in this niche will help you engage in meaningful conversations during interviews and demonstrate your enthusiasm for the role.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those involved in underwriting. Attend industry events or join relevant online forums to connect with potential colleagues and gain insights into the role of an Assistant Underwriter.
✨Tip Number 3
Brush up on your analytical skills by practising data analysis and risk assessment techniques. Being able to showcase your ability to analyse historical claims and underwriting data will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss how you can contribute to operational efficiency. Think of examples from your past experiences where you've streamlined processes or improved workflows, as this aligns with the team's goals and will highlight your proactive mindset.
We think you need these skills to ace Assistant Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant skills and experiences that align with the Assistant Underwriter role. Emphasise any analytical skills, attention to detail, and experience in insurance, legal, accounting, or M&A.
Craft a Compelling Cover Letter: Write a cover letter that showcases your enthusiasm for the role and the company. Mention your eagerness to learn about W&I underwriting and how your background can contribute to the team's goals.
Highlight Relevant Skills: In your application, focus on your strong analytical skills and interpersonal abilities. Provide examples of how you've successfully built relationships or improved operational efficiency in previous roles.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors. A polished application reflects your attention to detail, which is crucial for an Assistant Underwriter.
How to prepare for a job interview at Avencia Consulting Services Ltd
✨Understand the W&I Landscape
Before your interview, take some time to research the world of Warranty and Indemnity (W&I) insurance. Familiarise yourself with key concepts, recent trends, and the role of underwriters in this field. This knowledge will demonstrate your genuine interest and help you engage in meaningful discussions.
✨Showcase Your Analytical Skills
As an Assistant Underwriter, strong analytical skills are crucial. Be prepared to discuss examples from your past experiences where you've successfully analysed data or identified trends. Highlight how these skills can contribute to refining risk assessment methodologies in the role.
✨Emphasise Interpersonal Skills
Building relationships with brokers and distribution partners is a key part of the job. During the interview, share instances where you've effectively communicated or collaborated with others. This will showcase your ability to foster strong working relationships, which is essential for success in this position.
✨Demonstrate Adaptability
The insurance industry is constantly evolving, and adaptability is vital. Prepare to discuss situations where you've had to adjust to new challenges or changes in your work environment. This will illustrate your readiness to improve operational efficiency and thrive in a dynamic team setting.
