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- Tasks: Oversee underwriting operations and manage delegated underwriting processes.
- Company: Coverys International Insurance Company, a leader in insurance innovation.
- Benefits: Competitive salary, career development, and a supportive team environment.
- Why this job: Join a passionate team and drive impactful changes in the insurance industry.
- Qualifications: 5-10 years in underwriting operations with strong analytical skills.
- Other info: Dynamic role with opportunities for process improvement and digital transformation.
The predicted salary is between 36000 - 60000 £ per year.
The Underwriting Operations Manager is responsible for the effective oversight and development of underwriting operations for Coverys International Insurance Company. This includes delegated underwriting management, bordereaux processing, underwriting controls, product oversight and outwards RI processing.
Responsibilities:
- Delegated Underwriting
- Effectively oversee delegated underwriting and claims operations
- Manage due diligence and onboarding for new MGAs, binding authorities and TPAs
- Manage annual MGA due diligence
- Manage MGA/TPA audit cycle and outsource monitoring in line with CBI requirements
- Deliver and develop accurate MI packs, KPI dashboards, and portfolio performance reports to senior management
- Bordereaux Processing
- Ensure the timely and accurate processing of bordereaux within agreed monthly SLAs for both CIIC and Coverys Limited
- Provide finance with relevant premium data for month end process
- Oversee outsourced service provider
- Identify and implement improvements on the quality, timeliness and accuracy
- Act as a point of escalation for service provider to resolve issues
- Provide EPI tracking and provision of premium data to finance
- Ensure data integrity across Bordereaux (BDX) lifecycle, cash allocation, and mapping processes
- Deliver accurate MI packs, KPI dashboards, and portfolio performance reports to senior management
- Underwriting Operations
- Support business planning and re-forecasting with data, performance metrics and analysis
- Develop and implement underwriting control systems, procedures and reporting
- Work with the business and the compliance team to ensure effective oversight of Conduct Risk and Product Oversight requirements
- Manage and enhance IT systems and reporting tools
- Support internal and external audits, ensuring adherence to underwriting risk and control frameworks
- Collaborate with Finance, Actuarial, Risk, and Operations teams to align reporting and strategic goals
- Outwards Reinsurance processing
- Production of outwards reinsurance bordereaux data in a timely and accurate manner
- Operating Model
- Support the continuous development of the company operating model
- Drive process improvements, automation initiatives, and digital transformation projects
- Work with IT to develop and implement enhancements to system functionality
- Provide administrative and operational support as required
- Support the analysis of new territories and opportunities
Experience, Knowledge & Skills:
- Minimum 5-10 years experience in underwriting operations
- Strong understanding and experience in MGA due diligence and audit management
- Expertise in Bordereaux management, financial controls, and regulatory frameworks
- Strong understanding of underwriting processes and technology
- Experience of delivering process improvements
- Proficiency in Excel, Power BI, and underwriting platforms
- Proven track record in process improvement and automation
If you're a caring and customer focused individual who enjoys working with passionate team members, Coverys is the right company for you!
Delegated Underwriting Manager in City of London employer: Coverys, Inc.
Contact Detail:
Coverys, Inc. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Underwriting Manager in City of London
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their values and how they align with your own. This will help you stand out and show that you're genuinely interested in being part of the team.
✨Tip Number 3
Practice common interview questions and prepare your own questions to ask. This shows you're engaged and gives you a chance to assess if the company is the right fit for you too!
✨Tip Number 4
Don’t forget to follow up after your interview! A simple thank-you email can leave a lasting impression and keep you top of mind as they make their decision.
We think you need these skills to ace Delegated Underwriting Manager in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Underwriting Operations Manager role. Highlight your experience in delegated underwriting and bordereaux processing, as well as any relevant skills that match the job description.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for the role. Mention specific experiences that demonstrate your expertise in MGA due diligence and audit management.
Showcase Your Skills: Don’t forget to showcase your technical skills, especially in Excel and Power BI. If you’ve implemented process improvements or worked on automation projects, make sure to mention those achievements!
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and get to know you better!
How to prepare for a job interview at Coverys, Inc.
✨Know Your Underwriting Inside Out
Make sure you brush up on your underwriting knowledge, especially around delegated underwriting and bordereaux processing. Familiarise yourself with the key responsibilities mentioned in the job description, as this will help you demonstrate your expertise and show that you're the right fit for the role.
✨Prepare Real-Life Examples
Think of specific instances where you've successfully managed MGA due diligence or improved processes in underwriting operations. Having these examples ready will allow you to showcase your experience and problem-solving skills during the interview.
✨Get Comfortable with Data
Since the role involves delivering MI packs and KPI dashboards, be prepared to discuss your experience with data analysis tools like Excel and Power BI. You might even want to bring along a sample report or dashboard you've created to illustrate your capabilities.
✨Show Your Collaborative Spirit
This position requires working closely with various teams, so be ready to talk about how you've collaborated with finance, actuarial, and compliance teams in the past. Highlighting your teamwork skills will show that you can thrive in a collaborative environment.
