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- Tasks: Support the Head of Cyber in underwriting and executing Chaucer's Cyber insurance strategy.
- Company: Chaucer is a leading insurance group at Lloyd’s, protecting industries globally.
- Benefits: Flexible working arrangements and a commitment to diversity and inclusion.
- Why this job: Join a dynamic team, build client relationships, and shape innovative insurance offerings.
- Qualifications: Relevant insurance and underwriting experience; strong communication and organisational skills required.
- Other info: Opportunities for international travel and participation in special projects.
The predicted salary is between 36000 - 60000 £ per year.
Job Profile Summary
To assist and support the Head of Cyber in all aspects of the underwriting of the cyber account and execution of the Chaucer Cyber insurance strategy.
Job Description
- Agreement and negotiation of renewals and new business in accordance with underwriting authority and where appropriate, individual budget goals within the Cyber portfolio
- Agreement of endorsements / amendments / promised lines in accordance with underwriting authority
- Acceptance of individual declarations to specified line-slips
- Agreement of special acceptances and referrals to binding authorities, line-slips and consortia
- Pro-active Marketing to meet class and divisional budgets
- Build on existing, and develop new, long term client relationships including foreign travel where appropriate
- Build strong market peer group reputation
- Participation in, and where appropriate, chairing of special projects as and when required in order to meet Chaucer’s long term objectives
- Ensure records are properly recorded and updated
- Specific account analysis
- Assisting Head of Cyber in preparation of Executive Reports, including Outwards Reinsurance submissions
- Coding and Risk Administration
- Support the Head of Cyber in development finement of Chaucer’s Cyber Insurance offerings, and the shaping of strategy
- Liaison with Actuarial, Exposure Management and Claims functions
- Liaison with Cyber analytics function
- Client and broker liaison for allocated risks
- Act as an underwriting referral point for colleagues with authority in the Cyber team
- Reporting of issues to Head of Cyber
- Maintain currency with relevant subject matter, including via continuous professional development
- Comply with both Lloyds and Company market regulations and byelaws
Regulatory Responsibilities
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,
- Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers.
- Complete 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
Skills and Competencies
- Relevant insurance experience with underwriting experience
- Experience of negotiating with brokers and liaising with clients
- Understanding of business planning process.
- Microsoft office, Excel
- Flexible and adaptable
- Excellent organisational skills
- Excellent communication skills at all levels
- Works as part of a team
- Adapt to a pressured environment
Education
- ACII
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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Class Underwriter - Cyber employer: Chaucer
Contact Detail:
Chaucer Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Class Underwriter - Cyber
✨Tip Number 1
Familiarise yourself with the latest trends and developments in cyber insurance. This will not only help you understand the market better but also demonstrate your commitment to continuous professional development during interviews.
✨Tip Number 2
Network with professionals in the insurance and cyber sectors. Attend industry events or webinars to build relationships and gain insights that could give you an edge when discussing your experience and knowledge in interviews.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully negotiated with brokers or clients in the past. Highlighting your negotiation skills will be crucial, as this role involves significant interaction with various stakeholders.
✨Tip Number 4
Research Chaucer's current cyber insurance offerings and any recent news about the company. Being knowledgeable about their strategies and objectives will show your genuine interest in the role and help you align your answers with their goals during the interview.
We think you need these skills to ace Class Underwriter - Cyber
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly understand the responsibilities of a Class Underwriter - Cyber. Familiarise yourself with the key tasks such as underwriting authority, client relationship management, and compliance with regulations.
Tailor Your CV: Highlight your relevant insurance and underwriting experience in your CV. Emphasise skills like negotiation with brokers, client liaison, and any experience with cyber insurance or risk management.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of Chaucer's Cyber insurance strategy. Mention specific experiences that demonstrate your ability to build client relationships and manage underwriting processes effectively.
Showcase Continuous Learning: Mention any continuous professional development activities you have undertaken related to cyber insurance or underwriting. This shows your commitment to staying current in the field and aligns with Chaucer's emphasis on professional growth.
How to prepare for a job interview at Chaucer
✨Know Your Cyber Insurance Basics
Make sure you have a solid understanding of cyber insurance products and the current market trends. Familiarise yourself with Chaucer's offerings and how they align with industry standards, as this will show your genuine interest in the role.
✨Demonstrate Negotiation Skills
Prepare examples from your past experiences where you've successfully negotiated with brokers or clients. Highlight your ability to build relationships and close deals, as these skills are crucial for the Class Underwriter position.
✨Showcase Your Analytical Abilities
Be ready to discuss how you approach account analysis and risk assessment. Providing specific examples of how you've used data to inform underwriting decisions will demonstrate your analytical mindset and attention to detail.
✨Emphasise Team Collaboration
Since the role involves working closely with various teams, be prepared to talk about your experience in collaborative environments. Share instances where you've successfully worked as part of a team to achieve common goals, especially in high-pressure situations.
