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- Tasks: Oversee delegated underwriting operations and manage audits for new partners.
- Company: Join Coverys, a leading insurance company with a focus on innovation.
- Benefits: Competitive salary, career growth, and a supportive team environment.
- Why this job: Make a real impact in the insurance industry while developing your skills.
- Qualifications: 5-10 years in underwriting operations and strong analytical skills required.
- Other info: Dynamic workplace with opportunities for process improvement and digital transformation.
The predicted salary is between 48000 - 72000 £ per year.
Join to apply for the Delegated Underwriting Manager role at Coverys London. The Delegated Underwriting Manager is responsible for the effective oversight and development of delegated 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!
Seniority level: Mid-Senior level
Employment type: Full-time
Job function: Finance and Sales
Industry: Insurance
Delegated Underwriting Manager employer: Coverys London
Contact Detail:
Coverys London Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Underwriting Manager
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work with delegated underwriting. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of MGA due diligence and bordereaux management. We recommend creating a list of key points you want to discuss, showcasing your expertise and how it aligns with Coverys' needs.
✨Tip Number 3
Don’t just apply and wait! Follow up on your applications through our website. A quick email expressing your enthusiasm can make you stand out and show that you're genuinely interested in the role.
✨Tip Number 4
Stay updated on industry trends and regulatory changes. This knowledge will not only help you in interviews but also demonstrate your commitment to continuous improvement and excellence in underwriting operations.
We think you need these skills to ace Delegated Underwriting Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Delegated Underwriting Manager role. Highlight your experience in underwriting operations and any relevant skills that match the job description. We want to see how you can bring your unique flair to our team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role at Coverys. Share specific examples of your past experiences that align with the responsibilities listed in the job description. Let us know what makes you tick!
Showcase Your Skills: Don’t forget to showcase your skills in Excel, Power BI, and any underwriting platforms you’ve used. We’re looking for someone who can hit the ground running, so make sure we see your expertise front and centre in your application.
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates. Plus, it shows you’re keen to join our team!
How to prepare for a job interview at Coverys London
✨Know Your Underwriting Inside Out
Make sure you brush up on your knowledge of underwriting operations, especially in relation to delegated underwriting management and MGA due diligence. Be prepared to discuss specific examples from your past experience that demonstrate your expertise in these areas.
✨Showcase Your Analytical Skills
Since the role involves delivering accurate MI packs and KPI dashboards, be ready to talk about your experience with data analysis and reporting tools like Excel and Power BI. Bring along examples of how you've used these tools to drive process improvements or enhance reporting accuracy.
✨Demonstrate Your Collaborative Spirit
This position requires working closely with various teams such as Finance, Actuarial, and Risk. Prepare to share instances where you've successfully collaborated across departments to achieve common goals, particularly in managing audits or compliance requirements.
✨Be Ready for Scenario Questions
Expect questions that assess your problem-solving abilities, especially regarding bordereaux processing and outwards reinsurance. Think of scenarios where you've had to resolve issues with service providers or implement improvements, and be ready to explain your thought process and outcomes.
