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- Tasks: Oversee underwriting operations and manage delegated underwriting processes.
- Company: Join Coverys International Insurance Company, a leader in insurance innovation.
- Benefits: Competitive salary, career development, and a supportive team environment.
- Why this job: Make a real impact in the insurance industry with your expertise.
- Qualifications: 5-10 years in underwriting operations and strong analytical skills.
- Other info: Dynamic workplace focused on process improvement and digital transformation.
The predicted salary is between 48000 - 72000 £ 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 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 London
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work in underwriting. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their approach to delegated underwriting and bordereaux processing. This will help you tailor your answers and show you're genuinely interested.
✨Tip Number 3
Practice common interview questions related to underwriting operations. Think about your past experiences and how they align with the responsibilities of the role. We recommend doing mock interviews with friends or mentors.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Delegated Underwriting Manager in 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 in managing audits and compliance. We want to see how your background fits with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting operations and how your skills align with our needs. Be sure to mention any specific achievements that demonstrate your expertise in the field.
Showcase Your Data Skills: Since this role involves a lot of data analysis and reporting, make sure to highlight your proficiency in Excel, Power BI, and any other relevant tools. We love seeing candidates who can turn data into actionable insights, so don’t hold back!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets to us quickly and efficiently. Plus, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at Coverys, Inc.
✨Know Your Underwriting Inside Out
Make sure you brush up on your knowledge of underwriting operations, especially around delegated underwriting and bordereaux processing. Familiarise yourself with the key responsibilities mentioned in the job description, as this will help you answer questions confidently and show that you're the right fit for the role.
✨Prepare Real-Life Examples
Think of specific instances from your past experience where you've successfully managed MGA due diligence or improved processes. Use the STAR method (Situation, Task, Action, Result) to structure your answers, making it easier for the interviewer to see your impact and capabilities.
✨Showcase Your Analytical Skills
Since the role involves delivering MI packs and KPI dashboards, be ready to discuss your proficiency in Excel and Power BI. Bring examples of how you've used these tools to analyse data and drive improvements in previous roles, as this will demonstrate your technical skills and analytical mindset.
✨Ask Insightful Questions
At the end of the interview, don’t forget to ask questions that show your interest in the company and the role. Inquire about their current challenges in underwriting operations or how they envision the future of their operating model. This not only shows your enthusiasm but also helps you gauge if the company is the right fit for you.
