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- Tasks: Evaluate complex risks and ensure proper pricing and terms for insurance policies.
- Company: Join a caring and customer-focused team at Coverys.
- Benefits: Competitive salary, flexible hours, and opportunities for professional growth.
- Other info: Enjoy a dynamic work environment with opportunities for cross-Atlantic travel.
- Why this job: Make a real impact by mentoring others and shaping the future of underwriting.
- Qualifications: Bachelor's degree preferred; strong analytical skills and insurance knowledge required.
The predicted salary is between 55000 - 70000 £ per year.
The Senior Underwriter will evaluate complex risks to ensure proper risk selection, pricing, and terms for policies generated in assigned territories. This position will work independently within the established strategy and delegated authority to generate a profitable portfolio. The Senior Underwriter is responsible for marketing activities to generate new business. The Senior Underwriter will be looked at as a mentor, coaching and training less experienced underwriters.
Essential Duties & Responsibilities
- Risk evaluation: Evaluate submissions to determine acceptability of risks in accordance with company guidelines and standards. Determine proper coverage, pricing, limits, and terms based on exposure. Operate as a subject matter expert for the team.
- Guideline adherence: Understand and follow the applicable underwriting guidelines, policies, and procedures to maintain consistency and adherence to industry regulations. Operate within assigned letter of underwriting authority.
- External communication: Interact with customers, agents, and brokers to gather necessary information and to clarify underwriting requirements. Negotiate policy terms.
- Data analysis: Utilize analytical tools to evaluate exposure and understand the driver of claims.
- Collaboration: Drive a multi-disciplinary approach to understanding insureds’ risks. Collaborate with other underwriters and team members to gain a comprehensive understanding of the exposure and best means to provide coverage.
- Documentation: Maintain accurate and detailed records of underwriting decisions and communication with both internal and external parties. Responsible for documenting the underwriting process and decisions of assigned policies.
- Marketing: Conduct stewardship meetings and lead marketing activities. Establish and monitor production pipeline of new business. Present at industry conferences.
- Portfolio Management: Maintain sight of the strength of assigned portfolio. Provide information and feedback on territorial or market trends to management. Support the CUO in the development of underwriting appetite and strategy.
- Project work: May participate in and/or lead projects.
- Policy language: Remain aware of market-standard policy terms and support Product & Services team with recommendations of updates and changes to standard policy language.
- Mentor/Coach: Train and coach less experienced underwriters on an individual basis and support their training with other professionals.
- Management: Carry out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include goal setting, interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; team advocacy and conflict resolution.
Education, Experience, Competencies & Values
- Bachelor's degree from four-year college or university preferred.
- Demonstrated expertise and/or training; or equivalent combination of education and experience.
- Have completed or willingness to complete requirements of the ACII, CPCU or RPLU.
- Must be knowledgeable in insurance policy contracts, particularly medical malpractice, general liability and excess/umbrella liability.
- Strong analytical skills.
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, governmental regulations, underwriting guidelines and manuals, bylaws, financials, articles of organization, loss runs, Joint Commission reports and other industry reports.
- Ability to write reports and business correspondence.
- Proficiency with Microsoft Office suite of programs.
- Comfortable and effective in presenting information and responding to questions from groups of managers, clients, customers, and the general public.
- Previous leadership experience preferred.
- Ability and willingness for cross Atlantic travel as required by the role.
Hours: Monday to Friday 09:00-17:00, although flexibility with hours may be required on occasion. Minimum of 4 days a week in physical office.
If you're a caring and customer focused individual who enjoys working with passionate team members, Coverys is the right company for you!
Senior Underwriter in London employer: Coverys
Contact Detail:
Coverys Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter in London
✨Tip Number 1
Network like a pro! Reach out to industry contacts, attend events, and join relevant groups. The more people you know, the better your chances of landing that Senior Underwriter role.
✨Tip Number 2
Show off your expertise! Prepare to discuss your experience with risk evaluation and underwriting guidelines in detail. Be ready to share examples of how you've successfully managed portfolios in the past.
✨Tip Number 3
Practice your pitch! Whether it's a casual chat or a formal interview, be confident in explaining your approach to mentoring and coaching less experienced underwriters. We want to see your leadership skills shine!
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're serious about joining our team at Coverys. Let’s get you on board!
We think you need these skills to ace Senior Underwriter in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Senior Underwriter role. Highlight your experience with risk evaluation and portfolio management, as these are key aspects of the job. We want to see how your skills align with our needs!
Show Off Your Analytical Skills: Since this role requires strong analytical abilities, don’t shy away from showcasing your data analysis experience. Include specific examples where you’ve successfully evaluated risks or made decisions based on data. We love numbers, so let them shine!
Be Clear and Concise: When writing your application, keep it clear and to the point. Use straightforward language and avoid jargon unless it’s relevant to the role. We appreciate a well-structured application that gets straight to the heart of your qualifications.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, it shows us you’re keen on joining our team at StudySmarter!
How to prepare for a job interview at Coverys
✨Know Your Risks
Before the interview, brush up on your risk evaluation skills. Familiarise yourself with common underwriting guidelines and be ready to discuss how you would assess complex risks. This will show that you understand the core responsibilities of a Senior Underwriter.
✨Showcase Your Analytical Skills
Prepare to demonstrate your analytical prowess. Bring examples of how you've used data analysis tools in past roles to evaluate exposure and claims. Being able to articulate your thought process will impress interviewers and highlight your expertise.
✨Communication is Key
Since this role involves external communication, practice articulating your thoughts clearly. Be prepared to discuss how you’ve interacted with customers, agents, and brokers in the past. Highlight any negotiation experiences to showcase your ability to clarify underwriting requirements.
✨Mentorship Matters
As a potential mentor for less experienced underwriters, think about your coaching style. Prepare to share specific examples of how you've trained or supported colleagues in the past. This will demonstrate your leadership capabilities and commitment to team development.