At a Glance
- Tasks: Support underwriting of Medical Professional Liability and assist in data analysis and portfolio evaluations.
- Company: Join a leading insurance syndicate with a focus on innovation and teamwork.
- Benefits: Competitive salary, professional development, and opportunities for career growth.
- Other info: Collaborative culture with a clear path for career advancement.
- Why this job: Make an impact in the insurance industry while developing your skills in a dynamic environment.
- Qualifications: Strong numerical skills, excellent communication, and a willingness to learn.
The predicted salary is between 60750 - 74250 £ per year.
To assist in the underwriting of Medical Professional Liability (“MPL”) business for Syndicate 4444, as directed by the Medical Professional Liability underwriters, to meet the requirements of the business plan, in particular the strategic targets for premium income, profitability and return on capital. Occasionally support other underwriters within the Casualty London team to perform data analysis, portfolio evaluations and ad-hoc projects.
The role will also provide a clear development path, with opportunities to develop and specialise in the various elements of the pricing and underwriting process.
You must have excellent numerical / statistical skills and be a confident communicator, who can convey complex ideas in a concise way.
Key Responsibilities
- To support the underwriting of Medical Professional Liability business as directed by the Medical Professional Liability team and senior underwriting management, in accordance with the Syndicate Business Plan.
- To develop and continue to improve the MPL rating model, through regular interaction with the underwriting and pricing teams.
- To assist the underwriting team in pricing MPL risks for open market and delegated authorities, in the US and internationally.
- To harvest the exposure and loss data received by the MPL team from US and international submissions, mapping it to the rater in order to refine pricing and build the loss database.
- To assist in cleaning and maintaining the loss database, in conjunction with the pricing team, to enable the MPL team to produce meaningful analyses on various topics of interest and reports for the industry as well as individual clients.
- To assist in assembling loss databases for different classes of business (miscellaneous and international) outside of the main US rater, in order to assist the actuaries in producing ILF’s and pricing assumptions.
- To harvest quality and patient safety data to assist in the underwriting of healthcare risks.
- To assist in producing reports, create ad-hoc analyses and dashboards for the team to monitor the premium, rate change, and profitability targets.
- To develop and maintain good working relationships with brokers to establish Canopius as a preferred market for Medical Professional Liability.
- To ensure that the business written is controlled effectively and complies with all relevant regulatory standards including those laid down by the PRA, FCA, and Lloyd‘s.
- To ensure that all business written complies with Canopius internal policies, procedures and controls and that these are understood and adhered to.
- To assist the underwriting team ensuring that business is only accepted through intermediaries and coverholders approved by Canopius in accordance with internal procedures.
- To assist the underwriting team documenting complete and accurate underwriting records to reflect the underwriting approach and assessment.
- To work with others to promote a culture where client’s needs are placed at the heart of underwriting decision-making and business is conducted in a manner that meets Canopius’ internal standards and regulatory guidelines.
- To help the underwriting team ensure that the FCA principle of treating customers fairly (TCF) is applied in those areas of the business within the jobholder’s responsibility.
- Other duties may be assigned.
Skills
- High level of numeracy with an excellent record of academic achievement.
- Willingness to learn and develop expertise within the insurance market.
- Advanced Excel and/or programming skills and a strong desire to develop these further.
- Strong problem-solving skills. Ability to apply existing knowledge to a new problem in order to suggest solutions.
- Work in an organised manner, producing clear documentation and audit trails.
- Ability to prioritise work and assess feasibility of deadlines.
- Excellent communication skills.
- Excellent teamwork; proactivity and initiative in identifying team’s needs and the appropriate tasks to satisfy them.
Underwriting Analyst in London employer: Canopius
At Canopius, we pride ourselves on being an exceptional employer, particularly for the Class Underwriter - Transportation role. Our collaborative work culture fosters strong relationships with brokers and clients, ensuring that our employees are at the forefront of the North American insurance market. With a commitment to professional development and a supportive environment, we empower our team members to thrive while contributing to our strategic goals in a dynamic and rewarding setting.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting Analyst in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Canopius). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Canopius. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Underwriting Analyst in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Canopius.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Canopius. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Canopius
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Canopius to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Canopius, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Canopius's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
