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- Tasks: Assist in underwriting a portfolio of (re)insurance business and maintain accurate data.
- Company: Join a leading specialty Reinsurer expanding their Property team.
- Benefits: Gain valuable experience in a dynamic industry with opportunities for growth.
- Why this job: Be part of a collaborative team, develop broker relationships, and impact the insurance landscape.
- Qualifications: University degree or equivalent insurance qualification; 3 years' industry experience required.
- Other info: Opportunity to work with international clients and attend industry events.
The predicted salary is between 36000 - 60000 £ per year.
About us Avencia Consulting are recruiting on behalf of a leading specialty Reinsurer who are expanding their Property team for an Assistant Underwriter to join! Experience in D&F Property is essential.
The role Reporting to the Underwriter, the primary purpose of the role is to assist in underwriting a portfolio of (re)insurance business. This includes analysing and maintaining the accuracy of all (re)insurance data and records with the ultimate goal of ensuring that interests are properly managed and protected.
Key accountabilities
- Participate in the underwriting process including a daily underwriting call, assisting in the evaluation of submissions, analysing and interpreting exposures, determining coverage and contract language as well as evaluating and prioritising preparations.
- Provide input for the production of underwriting reports.
- Assist and work with risk modeling and pricing tools.
- Attend underwriting business meetings as required.
- Leverage, build and maintain brokers relationships.
- Work closely with other group departments to obtain and provide information as required.
- Monitor market developments and remain current regarding knowledge of all relevant classes of business, and legislated and regulatory changes.
- Ensure accuracy and integrity of underwriting data in group underwriting systems.
- Maintain and adhere to group underwriting procedures, controls and systems under remit and report any trigger/alert factors that have the potential to negatively impact the reputation or financial position of the firm.
- Monitor and follow up on payments for outstanding premiums.
- Provide assistance to prepare and issue quotes, binders and policies on an accurate and timely basis.
- Expand existing portfolio of business by developing existing relationships and new prospective clients through visits, entertainment and conferences as appropriate.
- Ensure compliance with internal and external underwriting regulations, liaising as appropriate with external bodies such as brokers, clients, auditors and regulators as required.
Skills & experience
- University degree or an equivalent insurance related qualification (i.e. ACII, CPCU).
- Minimum of 3 years' (re)insurance industry experience in either a broking or underwriting capacity, to include at least 1 years' experience working with international clients.
- Knowledge of actuarial modeling techniques and familiarity with RMS and AIR pricing tools.
- Strong negotiation skills and proven ability to effectively communicate financial data and information.
- Excellent organisational and analytical skills with an ability to prioritise and effectively manage workload while maintaining a high level of accuracy, professionalism and confidentiality.
- High proficiency in the Microsoft Office Suite of applications, as well as extensive computer experience with spreadsheets and database processing programs.
- Team player with the ability to work flexibly to meet business needs.
Property Assistant Underwriter employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Property Assistant Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in the property insurance market. Understanding current developments will not only help you during interviews but also demonstrate your commitment to staying informed, which is crucial for a role like Assistant Underwriter.
✨Tip Number 2
Network with professionals in the (re)insurance industry, especially those who have experience in underwriting. Attend industry events or webinars to build connections and gain insights that could give you an edge when applying for the position.
✨Tip Number 3
Brush up on your analytical skills, particularly in relation to risk modelling and pricing tools like RMS and AIR. Being able to discuss these tools confidently can set you apart from other candidates during the interview process.
✨Tip Number 4
Prepare to discuss your experience with international clients and how you've managed relationships in previous roles. Highlighting your negotiation skills and ability to communicate complex financial data effectively will be key in showcasing your suitability for the role.
We think you need these skills to ace Property Assistant Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the (re)insurance industry, particularly in D&F Property. Emphasise any specific roles or projects that demonstrate your underwriting skills and knowledge of actuarial modelling techniques.
Craft a Compelling Cover Letter: Write a cover letter that directly addresses the key accountabilities mentioned in the job description. Explain how your background aligns with the responsibilities of the Assistant Underwriter role and showcase your strong negotiation skills and ability to communicate financial data.
Highlight Relevant Qualifications: If you have a university degree or insurance-related qualifications like ACII or CPCU, make sure to mention these prominently. Also, include any additional training or certifications that relate to underwriting or risk assessment.
Showcase Your Analytical Skills: Provide examples in your application that demonstrate your organisational and analytical skills. Mention specific instances where you successfully managed workloads while maintaining accuracy and professionalism, as this is crucial for the role.
How to prepare for a job interview at Avencia Consulting Services
✨Showcase Your Industry Knowledge
Make sure to brush up on the latest trends and developments in the (re)insurance industry, especially in D&F Property. Being able to discuss current market conditions and regulatory changes will demonstrate your commitment and understanding of the field.
✨Prepare for Technical Questions
Expect questions related to underwriting processes, risk modelling, and pricing tools like RMS and AIR. Be ready to explain how you have used these tools in your previous roles and how they can benefit the company.
✨Highlight Your Analytical Skills
Since the role involves analysing data and maintaining accuracy, prepare examples that showcase your analytical abilities. Discuss specific instances where your attention to detail made a significant impact on your previous work.
✨Demonstrate Relationship-Building Skills
The ability to build and maintain relationships with brokers and clients is crucial. Share experiences where you successfully developed professional relationships and how those contributed to business growth or client satisfaction.
