At a Glance
- Tasks: Support underwriters in managing cyber risks and enhancing product development.
- Company: Join Chaucer, a leading insurance group at Lloyd’s with a global presence.
- Benefits: Flexible working arrangements, commitment to diversity, and professional growth opportunities.
- Other info: Collaborative team environment with a focus on customer service and continuous learning.
- Why this job: Make an impact in the fast-paced world of cyber insurance 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.
Job Description
- 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.
- Cyber application analysis, slip analysis, perform rating analyses and undertake premium monitoring.
- Maintain compliance with underwriting risk appetite, syndicate/company and regulatory procedures.
- Ensuring on-boarding and maintenance of coverholders is completed in accordance with Delegated Authority Centre of Excellence and Group Delegated Authority standards.
- Prepare reports and statistical information as required by the 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 the continuous development and assessment of rating models.
- Assist in the monitoring of statistics and claims and report accordingly.
- Work closely with the Cyber Centre of Excellence on monitoring trends in Cyber risk.
Regulatory Responsibilities
- 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 Provider.
Skills and Competencies
- Demonstrates a professional approach aligned with Chaucer’s values.
- Knowledge of the Lloyd’s Market.
- 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.
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.
Underwriting Assistant - Cyber in London employer: Chaucer Underwriting Services
Chaucer is an exceptional employer, offering a dynamic work environment in the heart of London, where innovation and collaboration thrive. As part of our Cyber division, you will benefit from ongoing professional development opportunities, a commitment to diversity, and a culture that values every employee's contribution. Join us to be at the forefront of the insurance industry, supporting global clients while enjoying a flexible working arrangement that promotes work-life balance.
Contact Details:
Chaucer Underwriting Services Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting Assistant - Cyber in London
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We think you need these skills to ace Underwriting Assistant - Cyber in London
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!
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
✨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.
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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 want to see that we're enthusiastic about diving into the insurance world and building our knowledge base over time.
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