At a Glance
- Tasks: Underwrite and manage a profitable portfolio of Directors & Officers insurance in the London Market.
- Company: Join Beazley, a leading name in specialty insurance with a bold and innovative culture.
- Benefits: Competitive salary, professional development, and a supportive team environment.
- Other info: Dynamic role with opportunities for networking and career growth within a collaborative team.
- Why this job: Make a real impact in the insurance industry while developing your skills and expertise.
- Qualifications: Experience in insurance or D&O underwriting, strong analytical and communication skills.
The predicted salary is between 60000 - 80000 £ 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.
Company Expectations: 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
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 integrity and teamwork. 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.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriter – London Market Directors & Officers
✨Tip Number 1
Networking is key! Get out there and connect with industry professionals. Attend events, join online forums, and don’t be shy about reaching out to people on LinkedIn. We all know that sometimes it’s not just what you know, but who you know!
✨Tip Number 2
Practice your pitch! You never know when you’ll get a chance to introduce yourself to a potential employer. Keep it concise and highlight your underwriting skills and experience in D&O. We want you to make a lasting impression!
✨Tip Number 3
Research the company culture! Before any interview, dive into Beazley’s values and how they align with your own. This will help you tailor your responses and show that you’re a great fit for the team. We love candidates who resonate with our core values!
✨Tip Number 4
Don’t forget to follow up! After an interview or networking event, shoot a quick thank-you email. It shows your appreciation and keeps you on their radar. Plus, it’s a great way to reiterate your interest in the role. We’re all about building those relationships!
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. 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 the role and how you can contribute to our team at Beazley. Keep it concise but impactful!
Showcase Your Analytical Skills:Since this role requires strong analytical skills, be sure to include examples of how you've used these skills in past roles. We love seeing how you approach problem-solving and decision-making!
Apply Through Our Website:Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. We can't wait to hear from you!
How to prepare for a job interview at Beazley
✨Know Your Underwriting Inside Out
Make sure you brush up on your underwriting skills, especially in the Directors & Officers space. Be prepared to discuss specific cases or scenarios where you've successfully underwritten a policy, and how you approached risk assessment and premium evaluation.
✨Showcase Your Client Management Skills
Since client relationships are key, think of examples where you've fostered strong connections with clients or brokers. Be ready to explain how you ensure client satisfaction and how you handle any challenges that arise in those relationships.
✨Demonstrate Analytical Thinking
Prepare to showcase your analytical skills by discussing how you monitor premiums, costs, and claims ratios. Bring examples of how you've used data to make informed decisions and ensure long-term profitability in your previous roles.
✨Emphasise Teamwork and Collaboration
Beazley values teamwork, so highlight your ability to work collaboratively with peers and other departments. Share experiences where you've contributed to team success or helped develop best practices within your organisation.
