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- Tasks: Underwrite international delegated accounts and provide expert advice on insurance matters.
- Company: Beazley, a leading insurance firm with a strong market reputation.
- Benefits: Competitive salary, professional development, and opportunities for networking.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: Graduate level education and experience in the insurance sector.
- Other info: Collaborative environment with excellent career growth potential.
The predicted salary is between 36000 - 60000 £ per year.
General Job Title: Underwriter – Delegated Underwriting, Private Enterprise Division Specialty Lines
Reports To: As per Beazley’s organisation chart
Key Relationships: Brokers, Underwriters, Claims staff, Coverholders, external Clients and Suppliers
Job Summary: To underwrite an International Delegated account within the Specialty Lines team 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 International Delegated business as part of the Specialty Lines 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. 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 International account. Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Lines. Comply with Beazley’s underwriting control standards for business written through Lloyd’s or Beazley’s 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 the International Delegated and Specialty Lines team. Work with peers within International Delegated and Specialty Lines teams 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 International Delegated account as required.
Personal Specification
Education and Qualifications: Minimum graduate level education
Skills and Abilities: Proficient underwriting skills, Accurate and numerate, Computer skills – good working knowledge of MS Office, advanced Excel skills, 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, Ideally European language(s) in addition to English.
Knowledge and Experience: General commercial and financial knowledge, Experience in insurance industry, Experience of international professional indemnity underwriting, Thorough knowledge of underwriting policy, philosophy and practice, Advanced knowledge of underwriting processes and systems, Client service experience.
Aptitude and 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, Forward thinking, Conceptual thinking.
Underwriter - Delegated Authority employer: Beazley
Contact Detail:
Beazley Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter - Delegated Authority
✨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 that a CV just can’t.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your underwriting expertise and analytical skills. Share specific examples of how you've tackled challenges in the past – it’ll show them you’re the real deal!
✨Be Ready for the Interview
Prepare for interviews by researching the company and understanding their products. Think about how your experience aligns with their needs, especially in the Specialty Lines area. Confidence is key, so practice your pitch!
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search!
We think you need these skills to ace Underwriter - Delegated Authority
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 the insurance industry, especially in international professional indemnity underwriting. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting and how you can contribute to our Specialty Lines team. Be sure to mention any relevant experience and how you can help maintain and improve Beazley’s market reputation.
Showcase Your Analytical Skills: Since this role requires strong analytical skills, make sure to include examples of how you've used these skills in past roles. Whether it's evaluating risk premiums or monitoring claims ratios, we want to see your thought process and results!
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it shows you're keen on joining our team!
How to prepare for a job interview at Beazley
✨Know Your Underwriting Stuff
Make sure you brush up on your underwriting knowledge, especially in international delegated authority and specialty lines. Be prepared to discuss specific cases or scenarios where you've successfully underwritten a profitable portfolio.
✨Show Off Your Analytical Skills
Since strong analytical skills are key for this role, be ready to demonstrate how you've used data to make informed decisions in the past. Bring examples of how you've monitored premiums, costs, and claims ratios to ensure profitability.
✨Build Rapport with Clients
Client management is crucial, so think of ways you've fostered positive relationships in previous roles. Prepare to share stories that highlight your ability to understand client needs and provide tailored solutions.
✨Team Player Vibes
This role requires collaboration with various teams, so be ready to discuss how you've worked effectively with others. Highlight any experiences where you've shared knowledge or best practices to improve team performance.