At a Glance
- Tasks: Support underwriters with pre-underwriting, record keeping, and reporting on cyber risks.
- Company: Chaucer Group is focused on delivering a successful Cyber division and product development.
- Benefits: Flexible working arrangements are available, promoting a diverse and inclusive workplace.
- Other info: Knowledge of the Lloyd’s Market and cyber risks is essential.
- Why this job: Join a team that values adaptability and offers opportunities in the growing field of cyber insurance.
- Qualifications: 3 ‘A’ Levels or equivalent; ongoing CII learning & certification is desirable.
The predicted salary is between 30000 - 40000 £ per year.
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.
Support underwriters with pre‑underwriting, administration of slips, record keeping and reporting including but not limited to:
- Review new and renewal risks including attendance and write‑up and documentation of client underwriting meetings
- Conduct cyber application analysis, slip analysis, perform rating analyses and undertake premium monitoring
- Maintain compliance with underwriting risk appetite, syndicate/company and regulatory procedures
- Ensure 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 Providers
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
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 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
Chaucer Group is located in the UK and is committed to diversity and inclusion. They offer flexible working arrangements and value differences among employees, ensuring a supportive environment for all.
