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For Companies At a Glance
- Tasks: Underwrite new and renewal accounts while analysing insurance data and maintaining records.
- Company: Join a leading Specialty Reinsurer based in the heart of London.
- Benefits: Enjoy a dynamic work environment with opportunities for growth and mentorship.
- Why this job: Be part of a collaborative team that values innovation and client relationships.
- Qualifications: Bachelor's degree and 3+ years in broking or underwriting required.
- Other info: Opportunity to mentor junior team members and engage with industry leaders.
The predicted salary is between 43200 - 72000 £ per year.
Job Description
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
Contact Detail:
Avencia Consulting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Marine Cargo Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in the marine cargo insurance market. Understanding current market conditions and regulatory changes will not only help you during interviews but also demonstrate your commitment to staying informed in this specialised field.
✨Tip Number 2
Network actively with professionals in the marine insurance sector. Attend industry events, webinars, or local meetups to build relationships with brokers and clients, which can be invaluable when applying for the Marine Cargo Underwriter position.
✨Tip Number 3
Brush up on your analytical skills, particularly in relation to pricing models and statistical analysis. Being able to interpret data effectively will set you apart from other candidates and show that you can handle the technical aspects of the role.
✨Tip Number 4
Prepare to discuss your previous underwriting experiences in detail. Be ready to share specific examples of how you've successfully managed accounts, built client relationships, and navigated complex negotiations, as these are key aspects of the role.
We think you need these skills to ace Marine Cargo Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Marine Cargo Underwriter. Familiarise yourself with the key accountabilities mentioned in the job description, such as underwriting new and renewal accounts and maintaining accurate records.
Tailor Your CV: Customise your CV to highlight relevant experience in broking or underwriting, especially in marine cargo. Emphasise your analytical skills, understanding of the international underwriting marketplace, and any established relationships with brokers and clients.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the industry. Mention specific experiences that demonstrate your ability to manage meetings independently and your proficiency in using risk modelling and pricing tools.
Proofread Your Application: Before submitting, carefully proofread your application materials. Ensure there are no spelling or grammatical errors, and that all information is clear and concise. A polished application reflects your attention to detail, which is crucial in underwriting.
How to prepare for a job interview at Avencia Consulting
✨Know Your Underwriting Basics
Make sure you brush up on your marine cargo underwriting knowledge. Understand the key principles, common risks, and the latest trends in the industry. This will help you answer technical questions confidently.
✨Showcase Your Analytical Skills
Be prepared to discuss your analytical approach to underwriting. You might be asked to interpret data or explain how you've used pricing models in past roles. Highlight specific examples where your analysis led to successful outcomes.
✨Build Rapport with Brokers
Since maintaining relationships with brokers is crucial, think of ways to demonstrate your networking skills. Share experiences where you've successfully built or leveraged relationships to secure business.
✨Stay Updated on Market Trends
Research current market developments and regulatory changes in the marine cargo sector. Being able to discuss these topics during your interview will show that you're proactive and knowledgeable about the industry.
