At a Glance
- Tasks: Assist in underwriting and managing UK Commercial Property accounts while supporting the team.
- Company: Join Chaucer, a leading insurance group at Lloyd’s with a global presence.
- Benefits: Gain valuable experience in a dynamic environment with opportunities for professional growth.
- Other info: Diverse and inclusive workplace with flexible working arrangements available.
- Why this job: Make an impact in the insurance industry while developing your skills and knowledge.
- Qualifications: Studying towards ACII qualification; UK Commercial Property insurance experience is a plus.
The predicted salary is between 40000 - 50000 £ per year.
The role is within Chaucer’s UK Commercial Property insurance team. The primary objective of the role is to assist in the day-to-day running of the account, supporting the team with underwriting duties, compliance management, premium, exposure and performance reporting, and liaising with brokers and clients as directed by a member of the team.
Supporting Underwriters in all aspects of the underwriting and management of the account:
- Maintain various underwriting logs within the team and coordinate with brokers and underwriters for accurate information
- Modelling of UK Commercial Property risks
- Assist with strategy documents, slides for presentations to brokers, clients, and the board
- Request renewal underwriting information from brokers and perform pre-renewal analysis
- Liaise with brokers as directed by the team
- Attend broker/client meetings as required and provide assistance
- Coordination and quality control with Risk Admin
- Agreement of endorsements/amendments/promised lines in accordance with underwriting authority when granted
- Acceptance of individual declarations to specified binders in accordance with underwriting authority when granted
- Assisting with special projects
- Review slips for contract certainty and perform all required checks
- Preparation of statistics
- Assisting the Specialist Lines unit head with management data monitoring
- Maintenance of risk history involving organisation and filing
- Keeping bordereaux exposure records
- Support the Outward Reinsurance division on data queries
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
- 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:
- UK Commercial Property insurance experience
- 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
Assistant Underwriter - UK Commercial Property employer: Chaucer
Chaucer is an exceptional employer located in the heart of London, offering a dynamic work environment that values diversity and promotes flexible working arrangements. As a leader in the insurance market, we provide our employees with ample opportunities for professional growth and development, ensuring that you can thrive in your career while making a meaningful impact in compliance monitoring.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Underwriter - UK Commercial Property
✨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 Chaucer). 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 Chaucer. 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 Assistant Underwriter - UK Commercial Property
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 Chaucer.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Chaucer. 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 Chaucer
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Chaucer 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 Chaucer, 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 Chaucer'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.
