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- Tasks: Join our team to underwrite and manage political risk insurance portfolios.
- Company: Avencia Consulting partners with a leading Specialty Insurer in London.
- Benefits: Enjoy opportunities for growth, mentorship, and a dynamic work environment.
- Why this job: Be part of a collaborative culture that values innovation and client relationships.
- Qualifications: Five years' experience in broking or underwriting is essential.
- Other info: Potential to become the #2 on the Political Risk team.
The predicted salary is between 48000 - 72000 £ per year.
About us: Avencia Consulting are partnered with a leading Specialty Insurer based in the City, who are looking to hire a Political Risk Underwriter to join their London team.
The role: Reporting to the Head of Political Risk, the primary purpose of the role is to assist in originating, modelling, administering, and underwriting a portfolio of (re)insurance business. The role will consist of liaising with brokers and growing relationships with clients and brokers to assist in the production of profitable business. Day to day underwriting will include pricing, analysis, presenting on the underwriting call and liaising with more Senior members of the team on exposure/portfolio management. It will also include an in-depth knowledge of policy wordings. Opportunity is there to become the #2 on the team to the Head of Political Risk.
Key accountabilities:
- Participate in the underwriting process, evaluation, and presentation of submissions, analysing and interpreting exposures, determining coverage and contract language.
- Working cross class, predominantly CF and PRI, but may need to work across PF and Structured Credit or other Bespoke lines when needed.
- Assist and work with risk modeling and pricing tools.
- Presentation of risks on the Underwriting Call.
- Originate, leverage, build and maintain broker and client relationships.
- Monitor market developments and remain current regarding knowledge of all relevant classes of business and legislated and regulatory changes / requirements.
- Ensure accuracy and integrity of underwriting data in group underwriting systems.
- Prepare and issue quotes on an accurate and timely basis.
- Supervising and/or mentoring junior members of the team.
- Ensure compliance with internal and external underwriting regulations, liaising as appropriate with external bodies such as brokers, clients, auditors and regulators as required.
- Assist with strategic initiatives as needed to promote business growth.
Skills & experience:
- Minimum of five years' experience in a broking or underwriting capacity in the relevant line of business.
- Good networks and relationships with brokers and clients, and ability to independently manage meetings.
- Strong understanding of the underwriting marketplace.
- Excellent analytical skills, with a working knowledge of and ability to interpret the outputs of pricing models, and the statistical skills necessary to perform analyses on first principles.
- Proven negotiator, with demonstrated ability to attract new business and retain clients.
Political Risk Underwriter employer: CV-Library
Contact Detail:
CV-Library Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Political Risk Underwriter
✨Tip Number 1
Network actively within the insurance and political risk sectors. Attend industry events, webinars, and conferences to meet potential brokers and clients. Building these relationships can give you an edge when applying for the role.
✨Tip Number 2
Stay updated on current political events and their implications for the insurance market. This knowledge will not only help you in interviews but also demonstrate your commitment to understanding the complexities of political risk underwriting.
✨Tip Number 3
Familiarise yourself with the latest risk modelling and pricing tools used in the industry. Being able to discuss these tools confidently during interviews will show that you are prepared and knowledgeable about the technical aspects of the role.
✨Tip Number 4
Prepare to discuss your previous experience in managing broker and client relationships. Highlight specific examples where you successfully negotiated terms or retained clients, as this is crucial for the Political Risk Underwriter position.
We think you need these skills to ace Political Risk Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in underwriting and broking, particularly in political risk or similar fields. Use specific examples to demonstrate your analytical skills and ability to manage client relationships.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your understanding of the political risk landscape and how your experience aligns with the key accountabilities outlined in the job description.
Showcase Your Analytical Skills: Provide examples in your application that showcase your analytical abilities, especially in relation to pricing models and exposure analysis. This will help demonstrate your fit for the role's requirements.
Highlight Relationship Management: Emphasise your experience in building and maintaining relationships with brokers and clients. Include specific instances where you successfully managed meetings or negotiations to attract new business.
How to prepare for a job interview at CV-Library
✨Know Your Underwriting Basics
Make sure you have a solid understanding of the underwriting process, especially in political risk. Brush up on your knowledge of policy wordings and be prepared to discuss how you would evaluate submissions and determine coverage.
✨Showcase Your Analytical Skills
Be ready to demonstrate your analytical abilities during the interview. You might be asked to interpret pricing models or analyse exposures, so think of examples from your past experience where you've successfully used these skills.
✨Build Rapport with Brokers
Since the role involves liaising with brokers, it's essential to show that you can build and maintain strong relationships. Prepare to discuss your previous experiences in managing broker relationships and how you approach networking.
✨Stay Updated on Market Trends
Familiarise yourself with current market developments and regulatory changes in the political risk sector. Being able to discuss recent trends or news will show your commitment to staying informed and your passion for the industry.
