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- Tasks: Support the underwriting team by analysing data and managing accounts.
- Company: Chaucer is a leading insurance group at Lloyd’s, protecting industries globally.
- Benefits: Flexible working arrangements and a diverse, inclusive workplace culture.
- Why this job: Gain hands-on experience in underwriting while contributing to sustainable business growth.
- Qualifications: Studying towards ACII qualification; treaty experience preferred.
- Other info: Opportunity to work with international teams and develop innovative pricing tools.
The predicted salary is between 36000 - 60000 £ per year.
Assistant Underwriter – Specialty Treaty page is loaded
Assistant Underwriter – Specialty Treaty
Apply locations London time type Full time posted on Posted 21 Days Ago job requisition id JR100926
Job Profile Summary
Support the Underwriting team by interpreting, preparing, and analysing data to support the underwriting process
Job Description
- Supporting the Marine Treaty Underwriters in all aspects of the underwriting and management of the account.
- Agreement of endorsements, amendments and promised lines in accordance with any agreed underwriting authority.
- Monitor risks written and due for renewal as well as developing list of target accounts.
- To interpret, prepare and analyse underwriting data to provide comprehensive modelling information to support the underwriting process.
- Support ongoing pricing model development
- Keeping aggregate exposure records
- Daily liaison and correspondence with brokers including selective marketing
- Prepare reports and data analysis using Chaucer Analytics Portal to assist the team in driving sustainable business growth
- Coordination and quality control with Underwriting Operations, ensuring tasks are conducted to a high standard and in a timely manner
- Liaise with other business areas within Chaucer as required to ensure effective management of the Marine Treaty account including credit control, compliance, claims, exposure management, internal risk review and actuarial functions
- Preparation and monitoring of peer review documentation/process
- Deputising for peers when absent at divisional meetings
- Assisting with strategic projects and underwriting insight assessment
- Assisting Innovation underwriters as appropriate and as required
- Undertake input of underwriting data into pricing models to generate risk assessments and premium calculations, review and validate model outputs to ensure accuracy in pricing recommendations and work closely with underwriters to interpret pricing model results and make necessary adjustments. Assist in the development and enhancement of new pricing tools and methodologies.
Regulatory Responsibilities
Comply with all policies and procedures and ensure that due regard is paid to providing good customer outcomes and the fair treatment of customers.
Manage the relationships with Customers, Agents and Service Providers:
- Advise, assist and service customers on insurance and risk matters to promote customers’ satisfaction;
- Foster positive relationships with Customers and attain an understanding of their needs;
- Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate; and,
- Assist with the completion of all required annual product review assessments to agreed timescales with approvals obtained and recorded
- Follow all Chaucer Group Product Governance processes in the UCM and obtain appropriate approvals
- Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers.
Skills and Competencies
- Excel and PowerPoint – Intermediate
- Ability to communicate confidently to varying levels of management and with external stakeholders.
- Treaty experience preferred.
- Involvement in the interpretation and assessment of data analytics
- Organised and able to work to tight deadlines and manage multiple priorities
- Able to communicate with different levels and is adaptable
- Resilient and able to work in a pressured environment
- Works as part of a team
Education
- Studying towards ACII qualification
ABOUT US
Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.
Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
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Assistant Underwriter – Specialty Treaty employer: Chaucer Underwriting Services Limited
Contact Detail:
Chaucer Underwriting Services Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Underwriter – Specialty Treaty
✨Tip Number 1
Familiarise yourself with the Marine Treaty sector and current market trends. Understanding the nuances of this specialty area will help you engage in meaningful conversations during interviews and demonstrate your genuine interest in the role.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those involved in underwriting. Attend relevant events or join online forums to connect with potential colleagues and gain insights that could give you an edge in your application.
✨Tip Number 3
Brush up on your data analysis skills, especially using tools like Excel and Chaucer Analytics Portal. Being able to showcase your proficiency in these areas can set you apart, as the role heavily relies on interpreting and analysing underwriting data.
✨Tip Number 4
Prepare to discuss your approach to teamwork and communication, as these are key competencies for the role. Think of examples from your past experiences where you successfully collaborated with others or managed relationships with stakeholders.
We think you need these skills to ace Assistant Underwriter – Specialty Treaty
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Assistant Underwriter role. Focus on your analytical abilities, communication skills, and any treaty experience you may have.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the position and the company. Mention specific aspects of the job description that excite you and how your background makes you a great fit for the team.
Highlight Relevant Skills: Emphasise your proficiency in Excel and PowerPoint, as well as your ability to manage multiple priorities under pressure. Provide examples of how you've successfully communicated with various stakeholders in previous roles.
Showcase Your Education: If you're studying towards an ACII qualification, make sure to mention this prominently. Highlight any relevant coursework or projects that demonstrate your understanding of underwriting and data analysis.
How to prepare for a job interview at Chaucer Underwriting Services Limited
✨Know Your Underwriting Basics
Make sure you have a solid understanding of the underwriting process, especially in the context of specialty treaty. Brush up on key concepts and terminology, as this will help you communicate effectively with the interviewers.
✨Demonstrate Data Analysis Skills
Since the role involves interpreting and analysing data, be prepared to discuss your experience with data analytics tools. Highlight any relevant projects where you've used Excel or other software to support decision-making.
✨Showcase Your Communication Skills
The job requires liaising with brokers and various stakeholders, so practice articulating your thoughts clearly. Be ready to provide examples of how you've successfully communicated complex information in previous roles.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving abilities in real-world scenarios. Think about past experiences where you had to manage tight deadlines or multiple priorities, and be ready to share how you handled those situations.
