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For Companies At a Glance
- Tasks: Build relationships with brokers and underwrite commercial risks.
- Company: Join a global General Insurance firm in the heart of London.
- Benefits: Enjoy a competitive salary, bonuses, and hybrid working options.
- Why this job: Be part of a dynamic team with opportunities for growth and impact.
- Qualifications: 5+ years in insurance underwriting and Cert CII required.
- Other info: Engage in cross-selling and develop your professional network.
The predicted salary is between 48000 - 72000 £ per year.
Our client is a global General Insurance firm in the City of London. They seek to recruit an experienced Commercial & Combined Underwriter - SME.
Key Responsibilities
- Develop good business relationships with new and existing brokers.
- Underwrite commercial combined/SME risks within the Broker Business team, including quoting new business and underwriting existing business (MTAs and renewals).
- Manage and serve a panel of assigned broker accounts.
- Negotiate pricing and terms with brokers in line with Underwriting Authority.
- Ensure accurate policy documentations are issued to brokers.
- Visit brokers as required to develop business and maintain existing book/cross-sell company products.
- Produce monthly reports for renewals and provide accurate analysis.
- Identify poorly performed accounts and take remedial actions as needed.
- Liaise with the Claims team and prepare relevant claim reports.
The Requirements
- Minimum of 5 years experience in Insurance underwriting within commercial/SME business lines.
- Certificate in Insurance (Cert CII).
- Good understanding and knowledge of the Insurance industry.
- Knowledge and experience of underwriting insurance risks.
Our client offers a competitive salary, bonus, benefits and a hybrid working model.
Commercial Underwriter in City of London employer: Davenport Oxley Ltd
Contact Detail:
Davenport Oxley Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Commercial Underwriter in City of London
✨Tip Number 1
Network with professionals in the insurance industry, especially those who work as underwriters or brokers. Attend industry events or join relevant online forums to connect with potential colleagues and learn about the latest trends in commercial underwriting.
✨Tip Number 2
Familiarise yourself with the specific types of commercial combined/SME risks that are prevalent in the City of London. Understanding the local market can give you an edge when discussing your experience and insights during interviews.
✨Tip Number 3
Prepare to discuss your negotiation skills in detail, as this role involves negotiating pricing and terms with brokers. Think of specific examples where you've successfully negotiated deals or resolved conflicts in your previous roles.
✨Tip Number 4
Stay updated on the latest regulatory changes and trends in the insurance industry. Being knowledgeable about current events will not only help you in interviews but also demonstrate your commitment to the field and your proactive approach to professional development.
We think you need these skills to ace Commercial Underwriter in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in insurance underwriting, particularly within commercial and SME business lines. Use specific examples to demonstrate your skills in managing broker relationships and underwriting risks.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the insurance industry and your ability to negotiate terms with brokers. Mention your relevant qualifications, such as your Certificate in Insurance (Cert CII), and how they align with the job requirements.
Highlight Key Achievements: In your application, emphasise any key achievements in your previous roles, such as successful negotiations or improvements in underwriting processes. This will help you stand out as a candidate who can add value to the team.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. A polished application reflects your attention to detail, which is crucial in the underwriting field.
How to prepare for a job interview at Davenport Oxley Ltd
✨Know Your Underwriting Basics
Make sure you brush up on your knowledge of underwriting principles, especially in the commercial and SME sectors. Be prepared to discuss specific risks and how you would assess them, as this will demonstrate your expertise and confidence in the field.
✨Build Rapport with Brokers
Since the role involves developing relationships with brokers, think about how you can showcase your interpersonal skills during the interview. Share examples of how you've successfully built relationships in the past and how you plan to maintain those connections in this new role.
✨Prepare for Negotiation Scenarios
Expect questions around negotiation tactics, as you'll need to negotiate pricing and terms with brokers. Prepare some scenarios where you successfully negotiated terms in previous roles, highlighting your approach and the outcomes.
✨Showcase Analytical Skills
The job requires producing reports and analysing performance. Be ready to discuss your experience with data analysis and reporting. You might want to bring examples of reports you've created or insights you've derived from data to illustrate your analytical capabilities.
