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For Companies At a Glance
- Tasks: Underwrite marine cargo accounts and analyse insurance submissions daily.
- Company: Join a leading Specialty Reinsurer in the heart of London.
- Benefits: Enjoy competitive pay, career growth opportunities, and a dynamic work environment.
- Why this job: Be part of a collaborative team that values innovation and client relationships.
- Qualifications: Bachelor's degree and 3 years' experience in broking or underwriting required.
- Other info: Opportunity to mentor junior team members and engage with industry leaders.
The predicted salary is between 48000 - 72000 £ per year.
About us
Avencia Consulting are recruiting on behalf of a leading Specialty Reinsurer based in the City, who are looking to hire a Marine Cargo Underwriter to join their London team.
The role
Reporting to the Head of Marine, the primary purpose of the role is to assist in the performance of the Marine Cargo underwriting portfolio by underwriting new and renewal accounts. This includes analysing and maintaining the accuracy of all (re)insurance submission data, policies, and records with the ultimate goal of ensuring that business interests are properly managed and protected.
Key accountabilities
- Participate in the underwriting process, evaluation and presentation of submissions, analysing and interpreting exposures, determining coverage and contract language
- Assist and work with risk modeling and pricing tools
- Originate, leverage, build and maintain broker and client relationships
- Monitor market developments and remain current regarding knowledge of all relevant classes of business, and legislated and regulatory changes / requirements
- Ensure accuracy and integrity of underwriting data in group underwriting systems
- Prepare and issue quotes on an accurate and timely basis
- Supervising and/or mentoring junior members of the team
- Ensure compliance with internal and external underwriting regulations, liaising as appropriate with external bodies such as brokers, clients, auditors and regulators as required
- Assist with strategic initiatives as needed to promote business growth
Skills & experience
- Bachelor's degree, preferable
- Minimum of 3 years' experience in a broking or underwriting capacity in the relevant line of business
- Established networks and strong existing relationships with brokers and clients, and ability to independently manage meetings
- Proficient understanding of the International underwriting marketplace
- Excellent analytical skills (testing may be required), with a working knowledge of and ability to interpret the outputs of pricing models, and the statistical skills necessary to perform analyses on first principles
- Proven negotiator, with demonstrated ability to attract new business and retain clients
Marine Cargo Underwriter employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Marine Cargo Underwriter
✨Tip Number 1
Network actively within the marine insurance sector. Attend industry events, webinars, and conferences to meet potential brokers and clients. Building these relationships can give you an edge when applying for the Marine Cargo Underwriter position.
✨Tip Number 2
Stay updated on market trends and regulatory changes in marine cargo insurance. This knowledge will not only help you in interviews but also demonstrate your commitment to the field and your ability to adapt to changes.
✨Tip Number 3
Familiarise yourself with risk modelling and pricing tools commonly used in marine underwriting. Being able to discuss these tools confidently during your interactions can set you apart from other candidates.
✨Tip Number 4
Consider reaching out to current or former employees of the company to gain insights into their culture and expectations. This information can be invaluable in tailoring your approach and demonstrating your genuine interest in the role.
We think you need these skills to ace Marine Cargo Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in marine cargo underwriting or related fields. Emphasise your analytical skills, understanding of the international underwriting marketplace, and any established relationships with brokers and clients.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention specific experiences that demonstrate your ability to manage underwriting processes and your proficiency in using risk modelling and pricing tools.
Highlight Key Skills: Clearly outline your key skills that align with the job description, such as negotiation abilities, analytical skills, and experience in compliance with underwriting regulations. Use examples to illustrate how you've successfully applied these skills in previous roles.
Proofread Your Application: Before submitting your application, thoroughly proofread all documents for spelling and grammatical errors. A polished application reflects your attention to detail, which is crucial in underwriting roles.
How to prepare for a job interview at Avencia Consulting Services
✨Know Your Underwriting Basics
Make sure you have a solid understanding of marine cargo underwriting principles. Brush up on key concepts, terminology, and the specific risks associated with marine cargo to demonstrate your expertise during the interview.
✨Showcase Your Analytical Skills
Prepare to discuss your analytical skills in detail. Be ready to provide examples of how you've used data analysis and risk assessment in previous roles, especially in relation to pricing models and exposure evaluations.
✨Highlight Relationship Management
Since building and maintaining broker and client relationships is crucial, come prepared with examples of how you've successfully managed these relationships in the past. Discuss any strategies you've employed to attract new business or retain clients.
✨Stay Updated on Market Trends
Research current trends and developments in the marine cargo insurance market. Being knowledgeable about recent changes in regulations or market dynamics will show your commitment to staying informed and your ability to adapt to industry shifts.
