At a Glance
- Tasks: Support Underwriters in evaluating risks and managing broker relationships.
- Company: Chaucer, a leading insurance group at Lloyd’s with a diverse and inclusive culture.
- Benefits: Gain valuable experience in underwriting with opportunities for professional development.
- Other info: Flexible working arrangements available and strong career progression potential.
- Why this job: Kickstart your career in insurance and learn from industry experts.
- Qualifications: GCSE Maths grade B or above and interest in further insurance qualifications.
The predicted salary is between 30000 - 40000 £ per year.
The primary function of this role will be to support the Underwriters day to day with evaluating and pre-underwriting risks. This will include pricing of risks, reviewing of surveys, liaison with brokers, attendance at the box supporting Underwriters, adhoc reporting and performance monitoring, broker relationship management, and general servicing of new and renewal business. This role is an introduction to Underwriting and will take the individual through all aspects of how to Underwrite, with the opportunity to progress to Underwriting, if of interest.
Main duties
- A key member of the Underwriting team supporting Underwriters through all aspects of Underwriting new and renewal risks
- Pricing of risks on behalf of Underwriters
- Pre-underwriting risks, including reviewing submissions to establish whether within Underwriting appetite
- High level review of surveys and risk quality
- Assist with triaging of risks
- Assist with Underwriting notes of a risk
- Analysis of CAT exposure per risk, and also at portfolio level
- Assisting with developing and/or enhancing new Underwriting tools for underwriting analysis
- Attend broker/client Underwriting meetings with Underwriters where required
- Day to day liaison with brokers both face to face at the box, as well as by email and via video calls
- Issue quotes to brokers on both renewals and new business
- Assisting underwriters with general day to day admin, including (once proficient) checking of renewal slips, and agreeing endorsements (with U/W guidance)
- Responsibility for the accuracy and upkeep of all written premium data on Charisma for all risks written within the area of responsibility
- Providing statistical information to Underwriters when required
- Prepare renewal lists
- Travel as required
- Be an active participant and contributor within the Underwriting team
- Assist and continue to develop best practice process for the Underwriting team to work with UW Ops and maintain strong working relationship with UW Ops team
- Act as gatekeeper/Underwriting point of contact to UW Ops and Outsourcing arrangements
Essential
- Experience working within the Insurance market
- Competent at using Internet Explorer for conducting research
- Competent using Microsoft Office
- Progression towards ACII
Technical Skills
- Competent at using Microsoft Edge (or similar) for conducting research
- A good general knowledge of world geography and basic construction types
- A good understanding of fundamental insurance/reinsurance concepts, slips terms and conditions
Education & Experience
- GCSE Maths grade B or above (or equivalent)
- Minimum of 3 A grade GCSE’s or equivalent
- Interest in studying for further insurance qualifications (ACII) – job holders will be expected to achieve Associateship in a reasonable period of time
Personal skills
- Professional outlook
- Very good interpersonal skills
- Excellent organisational skills
- Excellent communication skills with the ability to liaise at all levels
- Work as part of a team
- Adapt to a pressured environment
- Self-motivated
- Capable of working to a timetable when required
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 - Property (6 month FTC) in London employer: Chaucer Underwriting Services
Chaucer is an exceptional employer, offering a dynamic work environment in the heart of London where you can kickstart your career in underwriting. With a strong commitment to employee development, you will have access to training opportunities and the potential for progression within the underwriting team. Our inclusive culture values diversity and promotes flexible working arrangements, ensuring that every team member feels respected and empowered to contribute to our success.
Contact Details:
Chaucer Underwriting Services Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting Assistant - Property (6 month FTC) in London
✨Tip Number 1
Get to know the company inside out! Before your interview, check out Chaucer's website and social media. Understanding their values and recent projects can give you a leg up in discussions.
✨Tip Number 2
Practice makes perfect! Try mock interviews with friends or family. Focus on common underwriting questions and how your skills align with the role. The more comfortable you are, the better you'll perform!
✨Tip Number 3
Network like a pro! Reach out to current or former employees on LinkedIn. They can provide insider tips and might even put in a good word for you. Plus, it shows you're genuinely interested in the company.
✨Tip Number 4
Follow up after your interview! A quick thank-you email can set you apart from other candidates. Mention something specific from your chat to remind them of your conversation and enthusiasm for the role.
We think you need these skills to ace Underwriting Assistant - Property (6 month FTC) in London
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Underwriting Assistant role. Highlight any relevant experience in the insurance market and showcase your skills that align with the job description. We want to see how you fit into our team!
Show Your Enthusiasm:Let your passion for underwriting shine through in your application. Mention your interest in furthering your insurance qualifications, like ACII, and how this role is a stepping stone for you. We love candidates who are eager to learn and grow with us!
Be Clear and Concise:When writing your application, keep it straightforward and to the point. Use clear language and avoid jargon unless it's relevant. We appreciate well-structured applications that make it easy for us to see your qualifications and potential.
Apply Through Our Website:Don’t forget to submit your application through our website! It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it shows you’re serious about joining our team at Chaucer!
How to prepare for a job interview at Chaucer Underwriting Services
✨Know Your Underwriting Basics
Before the interview, brush up on fundamental insurance concepts and underwriting principles. Understanding how to evaluate risks and the basics of pricing will show your enthusiasm for the role and help you engage in meaningful discussions.
✨Familiarise Yourself with the Company
Take some time to research Chaucer and its position within the insurance market. Knowing about their clients and the types of risks they cover will allow you to tailor your answers and demonstrate your genuine interest in the company.
✨Prepare Questions for Your Interviewers
Think of insightful questions to ask during the interview. This could be about the team dynamics, the tools used for underwriting analysis, or opportunities for progression. It shows that you're proactive and genuinely interested in the role.
✨Showcase Your Interpersonal Skills
Since this role involves liaising with brokers and working as part of a team, be ready to discuss examples of how you've successfully communicated and collaborated in previous roles. Highlighting your interpersonal skills can set you apart from other candidates.
