At a Glance
- Tasks: Evaluate and underwrite insurance risks while supporting brokers with their quotes.
- Company: Join DUAL, a leading global insurance group with a people-first culture.
- Benefits: Competitive salary, career development, and opportunities for community involvement.
- Other info: Dynamic work environment with a focus on diversity and inclusion.
- Why this job: Make a real impact in the insurance industry while growing your skills.
- Qualifications: 3 years of insurance experience, including 2 years in Household Insurance.
The predicted salary is between 27000 - 33000 £ per year.
About DUAL
Working across 21 countries, DUAL has built a reputation as a specialist underwriting group and the market of choice for insurance intermediaries around the world. That’s how we have become one of the world’s largest international underwriting agencies (or MGAs) with US$3.4bn GWP. DUAL is part of Howden, a leading global insurance group with employee ownership at its heart. Founded in 1994, it provides insurance, reinsurance and underwriting services to clients ranging from private individuals to the largest multinational companies. The Group operates in 57 countries, employs over 24,000 people and manages premiums totalling US$50bn on behalf of its clients.
Who Are We Seeking?
Magenta Insurance is on the lookout for an Assistant Underwriter to join our EDI New Business team. If you have a minimum of 3 years of general insurance experience, including at least 2 years in Household Insurance or personal lines underwriting, and are eager to take the next step, this opportunity is for you. Whether you’ve been handling household quotes and referrals at an insurer, issuing policies at a Broker, or have experience working within an underwriting environment, we welcome your experience and enthusiasm. This role is an exciting progression for those seeking substantial responsibility and the chance to evolve into a technical and underwriting role.
About Us
Magenta Insurance, a Chartered Insurance Underwriting Agent, boasts nearly 30 years of market experience, long-standing relationships, and an excellent reputation. We specialize in underwriting predominantly non-standard and distressed residential property policies, providing solutions that others find challenging to place. We have recently expanded our market presence with the acquisition of a book on household business administered through key Broker EDI platforms.
The Role
Our EDI New Business team works with Brokers on a wholesale basis, supporting them as they quote and place household business through EDI platforms. Reporting to the EDI New Business Team Leader, you’ll handle a significant volume of telephone referrals from Brokers every day, underwriting risks within your designated authority and providing referral codes that allow quotes to proceed, alongside efficient technical and administrative support to the wider team. You’ll contribute significantly to the development of our new business Underwriting portfolio while honing your skills to liaise with key internal and external stakeholders. This role could be considered for a degree of Hybrid working, however the complex nature of the work means having colleagues on hand for assistance is a significant advantage.
Primary Responsibilities
- Evaluate and underwrite low complexity risks referred by Brokers quoting via EDI platforms, predominantly by telephone, within designated authority and following established procedures, and provide referral codes to Brokers.
- Ensure accurate underwriting data is captured on systems to minimize risk and ensure high-quality output of information.
- Support underwriting through general administration to ensure delivery of a professional service.
- Develop your technical and underwriting knowledge to take on more complex cases over time.
Additional responsibilities
- Assist Underwriters in recording risk details on source systems and building broker relationships as required.
- Handle a high daily volume of incoming telephone referrals from Brokers, applying commercial underwriting to secure the sale.
- Accurately complete referrals submitted by email and record the instructions provided to Brokers.
- Maintain underwriting documentation/files and keep all documentation in order.
- Communicate with brokers and request underwriting information from them.
- Process new business, including data entry into the system, population of relevant systems, and incepting cover.
- Develop underwriting knowledge to gain increased underwriting authority across our suite of products.
- Comply with all legal and regulatory requirements to ensure obligations are met.
- Study for, and pass, the 3 units required to obtain the CII’s certificate qualification.
Skills, Knowledge & Abilities
We value our people as our most precious asset and understand the importance of fostering a work environment that is responsive to the changing needs of today’s workforce. We’re interested not just in your past achievements and current skills but also in your potential.
Technical Experience
- A minimum of 3 years insurance experience
- A minimum of 2 years experience in Household Insurance or personal lines underwriting
- Experience working within an underwriting environment would be beneficial
- Good understanding of Property Insurance
- Minimum 1 year experience of telephone-based work in a technical, high-volume environment, preferably within household insurance.
If you’re a creative thinker, curious, ready to challenge the status quo, and have an appetite for achievement and building a career within the insurance market, we’d love to hear from you.
What do we offer in return?
A career that you define. Of course, we offer a competitive range of rewards and benefits to support you, but we know you expect all that. What you might not expect is a job where everyone has a voice, where volunteering in the community is part of the day job, and where everyone is encouraged to play a part towards our sustainability goals. We want people who want to make a difference - not just in the workplace, but in the industry and in the wider community.
Our culture: people first
Our core values dictate how we live and work. We’re a group with independence and people at its heart – and a home for talent with a unique culture: the biggest small company in the world. Being a people-first business has always been central to who we are. Our vision was to create an independent organisation with a distinctive culture that would survive and thrive through the people who shape it. Finding the most talented and entrepreneurial individuals to join the group has been, and will continue to be, key to our success.
Diversity and inclusion
At DUAL, our people are our greatest strength. We are committed to building an open and inclusive culture where everyone feels trusted and that they belong. We work to ensure all candidates, employees, clients and business partners are treated with fairness and respect. We want every candidate to be able to bring their best to the recruitment process, so if you require reasonable accommodation at any stage, please let us know and we will work with you to provide appropriate support.
Assistant Underwriter in Bury St Edmunds employer: Endsleigh
Howden is an exceptional employer that fosters a vibrant and entrepreneurial culture, where employee ownership is at the core of our operations. With a strong emphasis on collaboration, career progression, and work-life balance, we empower our team members to drive innovation and operational excellence in the reinsurance sector. Joining Howden means being part of a supportive community that values diversity and encourages personal growth, all while making a meaningful impact in the industry.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Underwriter in Bury St Edmunds
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Endsleigh). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Endsleigh. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Assistant Underwriter in Bury St Edmunds
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Endsleigh.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Endsleigh. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Endsleigh
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Endsleigh to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Endsleigh, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Endsleigh's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
