At a Glance
- Tasks: Underwrite and manage a profitable portfolio of Directors & Officers insurance in the London Market.
- Company: Beazley, a leading specialist insurer with a strong market reputation.
- Benefits: Competitive salary, professional development, and a collaborative work environment.
- Other info: Opportunities for career growth and networking within a supportive team.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: Experience in insurance, strong analytical skills, and effective communication abilities.
The predicted salary is between 55000 - 65000 £ per year.
Division: Specialty Risks
Key Relationships: Brokers, underwriters, claims, wordings, insureds, external clients and suppliers
Job Summary: To underwrite a London Market Directors & Officers (LM D&O) account within London Market Wholesale Executive Risk (LMWER) and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.
Key Responsibilities
- Underwriting
- Develop and underwrite a profitable portfolio of London Market Directors & Officers (D&O) business as part of the LMWER team.
- Structure tailor‑made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
- Manage innovation and development of non‑insurance service offerings to insureds and others.
- Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long‑term profitability at account level.
- Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
- Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost‑effective administration of the LM D&O account.
- Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks.
- Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley’s subsidiaries or internal MGAs.
- Develop a good working relationship with the claims managers on this class of business.
- Client Management
- Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
- Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
- Maintenance of good business relationships with brokers.
- Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
- General
- Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
- Develop best practice and disseminate business and class knowledge within D&O, LMWER and Specialty Risks.
- Work with peers within the D&O, LMWER and Specialty Risks to maximise business opportunities and profitability within the department.
- This will include but not be limited to sharing market information, marketing sources and cross‑selling opportunities.
- Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
- Production of presentations and marketing literature as required.
- Production of business plans/research documents for the D&O account as required.
It is important that within all your interactions both internally and externally you adhere to Beazley’s core values – Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e‑learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.
- This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.
- These may include membership of any Beazley committees or working groups.
Personal Specification
Skills & Abilities
- Proficient underwriting skills
- Accurate and numerate
- Strong analytical skills with attention to detail
- Able to communicate effectively with others, both verbally and in writing
- Ability to manage time, meet deadlines and prioritise
- Motivational skills
Knowledge & Experience
- General commercial and financial knowledge
- Experience in insurance industry
- Experience of D&O underwriting or broking
- Thorough knowledge of underwriting policy, philosophy and practice
- Advanced knowledge of underwriting processes and systems
- Client service experience
Aptitude & Disposition
- Result focused, self‑motivated, flexible and enthusiastic
- Professional approach to interact successfully with managers/colleagues/external suppliers
- Team worker as well as able to work on own initiative
- Customer focused, with a strong ethic of service and fairness to the customer
Competencies
- Achievement drive
- Analytical thinking
- Strategic thinking
- Service focus
- Team working
- Conceptual thinking
- Forward thinking
Underwriter – London Market Directors & Officers employer: Beazley Management Limited
Beazley is an exceptional employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. With a strong commitment to employee development, we provide ample opportunities for growth and advancement within the insurance industry, alongside a culture that values teamwork and integrity. Our focus on maintaining a positive brand image and delivering outstanding client service ensures that every team member plays a vital role in our success, making Beazley a rewarding place to build your career.
Contact Details:
Beazley Management Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Underwriter – London Market Directors & Officers
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out to professionals on LinkedIn. Building relationships can open doors to opportunities that aren’t even advertised.
✨Ace the Interview
Prepare for your interviews by researching the company and understanding their values. Practice common interview questions and think about how your skills align with what they’re looking for. Remember, it’s not just about answering questions; it’s about showcasing how you can add value to their team.
✨Follow Up
After an interview, send a thank-you email to express your appreciation for the opportunity. This not only shows your enthusiasm but also keeps you on their radar. A little follow-up can go a long way in making a lasting impression!
✨Utilise Our Website
Don’t forget to check out our website for job openings and resources tailored to help you succeed in your job search. We’ve got tools and tips that can give you the edge you need to land that dream role!
We think you need these skills to ace Underwriter – London Market Directors & Officers
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Underwriter role. Highlight your underwriting skills and experience in D&O insurance, as well as any relevant achievements that showcase your analytical thinking and client service experience.
Craft a Compelling Cover Letter:Your cover letter should tell us why you're the perfect fit for this role. Use it to demonstrate your understanding of the London Market and how you can contribute to maintaining and improving Beazley’s market reputation.
Showcase Your Soft Skills:Don’t forget to highlight your communication and motivational skills. We want to see how you can effectively interact with brokers, clients, and your team while delivering excellent service and achieving results.
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and for you to stay updated on your progress!
How to prepare for a job interview at Beazley Management Limited
✨Know Your Underwriting Stuff
Make sure you brush up on your underwriting knowledge, especially around Directors & Officers insurance. Be prepared to discuss specific cases or scenarios where you've successfully assessed risk and structured solutions. This will show that you not only understand the theory but can apply it in practice.
✨Build Rapport with Brokers
Since you'll be working closely with brokers, it's crucial to demonstrate your ability to foster positive relationships. Think of examples where you've successfully collaborated with brokers or clients in the past. Highlight your communication skills and how you ensure client satisfaction.
✨Showcase Your Analytical Skills
Given the importance of monitoring premiums and claims ratios, be ready to discuss your analytical approach. Bring examples of how you've used data to make informed underwriting decisions. This will help illustrate your attention to detail and strategic thinking.
✨Emphasise Teamwork and Ethics
Beazley values teamwork and ethical conduct, so share experiences that highlight your ability to work collaboratively and uphold business ethics. Discuss how you’ve contributed to a positive team environment and ensured fair outcomes for clients in your previous roles.
