At a Glance
- Tasks: Support underwriters in managing cyber risks and enhancing product development.
- Company: Join a diverse and innovative team at Chaucer, a leader in the Lloyd's Market.
- Benefits: Flexible working arrangements, commitment to diversity, and opportunities for professional growth.
- Other info: Collaborative environment with a focus on customer service and continuous learning.
- Why this job: Make a real impact in the fast-paced world of cyber security and risk management.
- Qualifications: 3 A Levels or equivalent; knowledge of cyber risks is a plus.
The predicted salary is between 30000 - 40000 £ per year.
The Underwriting Assistant plays an important role in the success of the Cyber division, supporting the team in delivering the business plan, product development, underwriting of risk and overall management of the Cyber portfolio.
Responsibilities
- Support underwriters with pre‑underwriting, administration of slips, record keeping and reporting.
- Review new and renewal risks including attendance and write‑up and documentation of client underwriting meetings.
- Perform cyber application analysis, slip analysis, rating analyses and undertake premium monitoring.
- Maintain compliance with underwriting risk appetite, syndicate/company and regulatory procedures.
- Ensure onboarding and maintenance of coverholders is completed per Delegated Authority Centre of Excellence and Group Delegated Authority standards.
- Prepare reports and statistical information as required by underwriters.
- Support new business opportunities through liaison with brokers and clients.
- Use market, industry and other sources to enhance awareness of technical factors and developments relevant to underwriting and the general cyber security landscape.
- Support product development opportunities from idea through to inception.
- Assist in continuous development and assessment of rating models.
- Assist in monitoring of statistics and claims and report accordingly.
- Work closely with the Cyber Centre of Excellence on monitoring trends in cyber risk.
- 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 accordance with Group Underwriting Principles and Controls.
- 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
- Professional approach aligned with Chaucer’s values.
- Knowledge of the Lloyd’s Market and awareness of cyber risks, common threats (e.g. ransomware, Phishing) and basic IT terminology.
- Ability to review and interpret data, spot trends and support risk assessment.
- Excellent written and verbal communication skills.
- High level of accuracy and attention to detail.
- Collaborative team player.
- Committed to delivering excellent customer service, with prompt and professional responses to internal and external queries.
- Adaptability and willingness to learn.
- Capable of prioritising tasks, managing multiple responsibilities, and using time effectively.
Education
- 3 A Levels or equivalent. Ongoing CII learning & certification is desirable.
Equal Employment Opportunity
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). We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and 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.
Underwriting Assistant - Cyber employer: Chaucer Underwriting Services Limited
Chaucer is an exceptional employer that fosters a collaborative and inclusive work culture, making it an ideal place for aspiring professionals in the insurance sector. With a strong commitment to employee development, we offer ongoing training opportunities and support for CII certification, ensuring that our team members grow alongside the evolving cyber landscape. Located in a vibrant area, we also promote flexible working arrangements, allowing you to balance your professional and personal life while contributing to meaningful projects in the Cyber division.
Contact Details:
Chaucer Underwriting Services Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting Assistant - Cyber
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We think you need these skills to ace Underwriting Assistant - Cyber
Some tips for your application 🫡
Show Your Customer Service Skills:In the insurance industry, customer service is key! Highlight any experience you have in dealing with clients or customers, whether it's through a part-time job or volunteer work. Remember, we love seeing your potential to communicate effectively and empathise with clients in your application!
Tailor Your CV to Insurance Basics:When crafting your CV, don't forget to include any relevant courses or certifications you've taken in insurance or finance. If you've studied topics related to risk assessment or policy management, mention those! It shows us you're serious about getting into the insurance game.
Craft a Compelling Cover Letter:For entry-level roles, your cover letter is your chance to shine! Share why you're passionate about insurance and how you’re eager to learn and grow in this field. We want to see that you're genuinely excited about building your career with Chaucer Underwriting Services Limited!
Highlight Your Analytical Mindset:Insurance is all about assessing risks and understanding numbers. Make sure to mention any coursework or experience you have with data analysis or critical thinking. Even if it’s from school projects or personal interests, we want to see that you can think analytically!
How to prepare for a job interview at Chaucer Underwriting Services Limited
✨Know Your Basics: The Insurance Fundamentals
Understand the core concepts of insurance, such as risk assessment, underwriting, and claims processes. This knowledge will help us demonstrate our familiarity with the industry and prepare us for any technical questions that might pop up during the interview.
✨Prepare for Behavioural Questions
Insurance companies love behavioural interviews! We should think about times we've shown teamwork, problem-solving, and customer service skills. Reflecting on specific experiences will help us come across as reliable candidates who can handle the challenges of the role.
✨Show Enthusiasm for Learning
As this is an entry-level position, it's crucial to express our eagerness to learn and grow within the company. Employers like Chaucer Underwriting Services Limited want to see that we're enthusiastic about diving into the insurance world and building our knowledge base over time.
✨Research Industry Trends
Staying updated on the latest trends in the insurance sector, like digital transformation and regulatory changes, can set us apart. Mentioning these trends during the interview shows that we’re engaged and have a forward-thinking mindset, aligning well with the company’s goals.
