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For Companies At a Glance
- Tasks: Underwrite a diverse portfolio of Specialty Professions and develop tailored insurance solutions.
- Company: Join Beazley, a leader in professional liability insurance with a global presence.
- Benefits: Competitive salary, career development opportunities, and a supportive team environment.
- Why this job: Make a real impact in the insurance industry while working with innovative professionals.
- Qualifications: Proficient underwriting skills and experience in Specialty Professions required.
- Other info: Dynamic workplace focused on teamwork and ethical practices.
The predicted salary is between 36000 - 60000 £ per year.
Specialty Risks: Specialty Risks
Key Relationships: Brokers, underwriters, claims, wordings, insureds, external clients and suppliers
Job Summary: We underwrite a broad range of Professional Liability risks, with a strong focus on the construction sector covering real estate developers, architects, engineers, contractors, design-build firms, certifiers, and oil & gas specialists. The portfolio includes both delegated authority and open market business, writing lead and follow positions across primary and excess layers. While our core market is North America, we have a growing presence in Australia and the UK.
Key Responsibilities
- Underwriting
- Develop and underwrite a profitable portfolio of Specialty Professions business as part of Specialty Risks.
- 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 Specialty Professions.
- 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.
- 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.
- 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 Specialty Professions and Specialty Risks.
- Work with peers within the Specialty Professions 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 Specialty Professions 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
Essential Criteria
- Proficient underwriting skills
- Experience of Specialty Professions underwriting or broking
- Thorough knowledge of underwriting policy, philosophy and practice
Skills & Abilities
- 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
- 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 –Specialty Professions employer: Beazley Management Limited
Contact Detail:
Beazley Management Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter –Specialty Professions
✨Tip Number 1
Network like a pro! Get out there and connect with industry professionals, especially those in the construction sector. Attend events, join online forums, and don’t be shy about reaching out to brokers and underwriters on LinkedIn.
✨Tip Number 2
Show off your expertise! Prepare to discuss your underwriting skills and experiences in detail during interviews. Be ready to share specific examples of how you've developed profitable portfolios or managed client relationships.
✨Tip Number 3
Practice makes perfect! Conduct mock interviews with friends or mentors to refine your responses. Focus on articulating your analytical thinking and service focus, as these are key competencies for the role.
✨Tip Number 4
Apply through our website! We love seeing candidates who take the initiative. Make sure your application reflects your understanding of Beazley’s core values and how you can contribute to our team.
We think you need these skills to ace Underwriter –Specialty Professions
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Underwriter – Specialty Professions role. Highlight your relevant underwriting experience and skills, especially in the construction sector. We want to see how you can bring value to our team!
Craft a Compelling Cover Letter: Your cover letter should tell us why you're the perfect fit for this role. Share specific examples of your past successes in underwriting and how they relate to the responsibilities listed in the job description. Let your personality shine through!
Showcase Your Analytical Skills: Since this role requires strong analytical skills, make sure to mention any relevant experiences where you've successfully evaluated risks or managed portfolios. We love numbers, so don’t shy away from showcasing your quantitative abilities!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows us you’re keen on joining the StudySmarter family!
How to prepare for a job interview at Beazley Management Limited
✨Know Your Underwriting Stuff
Make sure you brush up on your underwriting skills and knowledge of Specialty Professions. Be ready to discuss specific cases or scenarios you've handled in the past, especially in the construction sector. This will show that you not only understand the theory but also have practical experience.
✨Build Relationships
Since this role involves a lot of client management, think about how you can demonstrate your ability to foster positive relationships with clients and brokers. Prepare examples of how you've successfully managed client expectations or resolved conflicts in the past.
✨Show Your Analytical Skills
Be prepared to showcase your analytical thinking and attention to detail. You might be asked to evaluate risk premiums or discuss how you monitor claims ratios. Bring along any relevant data or reports that highlight your analytical capabilities.
✨Embrace Beazley’s Values
Familiarise yourself with Beazley’s core values: Being Bold, Striving for Better, and Doing the Right Thing. Think of examples from your previous work where you embodied these values, as it will resonate well with the interviewers and show that you're a good cultural fit.
