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- Tasks: Underwrite for Renewable Energy, focusing on Solar/Wind/BESS while ensuring compliance and customer care.
- Company: Join Munich Re Specialty - Global Markets, a leader in Primary Specialty Insurance with a supportive culture.
- Benefits: Enjoy 25 days leave, private medical insurance, hybrid work options, and professional development support.
- Why this job: Be part of a bold team driving sustainable solutions in a dynamic and inclusive environment.
- Qualifications: Intermediate knowledge of underwriting principles and FCA regulations; eagerness to learn and grow.
- Other info: Diversity and inclusion are at our core; we celebrate all identities and backgrounds.
The predicted salary is between 36000 - 60000 £ per year.
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Sector: Insurance
Role: Specialist
Contract Type: Permanent
Hours: Full Time
About us
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.
Please see our website for more information.
Green Solutions Underwriter
We are currently looking for an Underwriter to be based in London on a full-time basis, reporting into the Head of Renewables.
The key role of the Underwriter is to underwrite for the Renewable Energy Account within the underwriting limits as set out in the underwriting authority sheet and ensure timely account servicing to Brokers and Clients with a primary focus on onshore Solar / Wind / Bess.
Provide 1st level monitoring and oversight for administrative process aspects of the account, at all times demonstrating care for customers and respect for the regulatory obligations and reputation of the Syndicate.
Responsibilities:
- Assess, price, negotiate and underwrite for the Renewable Energy Account, exercising judgment in all underwriting and remaining aware of own underwriting limits as set out in the Underwriting Authority sheet, in accordance with the Syndicate Business Plan.
- Conduct and develop effective business relationships with brokers and clients to secure new business and retain appropriate renewal business.
- Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals. Refer/liaise (when appropriate) with CUO and relevant internal departments.
- Assist in monitoring and developing underwriting tools and procedures.
- Provide support to junior members of the team and monitor their quality of work.
- Provide 1st level oversight and support to the administrative function of the Renewable Energy Account as follows:
- S2000 / EDOC data Entry Process (ensure timeliness and accuracy of data entered by UAs and refine process as required).
- Credit Control Process (coordinate with credit control and follow up with broker).
- CAT monitoring (ensure timeliness and accuracy of data entered by UAs).
- Benchmark Rating Adequacy Process (ensure timeliness and accuracy of data entered by UAs).
- Monitor exception reports and take relevant action plans to escalate to seniors and rectify with relevant underwriter / UAs.
- Ensure Renewable Energy Account conforms with the principles of Contract Certainty.
Knowledge and Skills
- Intermediate (Level 2) knowledge and understanding of:
- Underwriting Principles;
- Legal Principles;
- FCA and Lloyd\’s rules and regulations including contract certainty issues;
- All company-specific procedures that relate to own role.
- Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm;
- Develop and maintain market and risk awareness and willingness to continue to develop knowledge of products, underwriting, and related issues through formal and informal learning, both internally and externally.
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognize diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social, and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re – choose your impact!
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
#BePresent #BeBold #BeCurious
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Green Solutions Underwriter employer: ENGINEERINGUK
Contact Detail:
ENGINEERINGUK Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Green Solutions Underwriter
✨Tip Number 1
Familiarize yourself with the latest trends in renewable energy, especially in onshore solar and wind. This knowledge will not only help you during interviews but also demonstrate your genuine interest in the sector.
✨Tip Number 2
Network with professionals in the insurance and renewable energy sectors. Attend industry events or webinars to connect with potential colleagues and learn more about the company culture at Munich Re.
✨Tip Number 3
Understand the regulatory environment surrounding renewable energy insurance. Being well-versed in FCA and Lloyd's rules will show that you are prepared to navigate the complexities of the role.
✨Tip Number 4
Prepare to discuss how you can contribute to a diverse and inclusive workplace. Munich Re values DEI, so think about how your unique background and experiences can enhance their team.
We think you need these skills to ace Green Solutions Underwriter
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Green Solutions Underwriter position. Understand the key responsibilities and required skills, especially in underwriting principles and renewable energy.
Tailor Your CV: Customize your CV to highlight relevant experience in underwriting, particularly in renewable energy sectors like solar and wind. Emphasize any previous roles that demonstrate your ability to assess and negotiate effectively.
Craft a Compelling Cover Letter: Write a cover letter that reflects your passion for renewable energy and your understanding of the insurance industry. Mention specific experiences that align with the responsibilities outlined in the job description.
Showcase Your Knowledge: In your application, demonstrate your knowledge of FCA and Lloyd's rules and regulations. Highlight any relevant training or certifications that showcase your commitment to continuous learning in the field.
How to prepare for a job interview at ENGINEERINGUK
✨Understand Underwriting Principles
Make sure you have a solid grasp of underwriting principles and legal regulations relevant to the role. Be prepared to discuss how these principles apply to renewable energy accounts, particularly in solar and wind sectors.
✨Showcase Your Relationship-Building Skills
Demonstrate your ability to build effective business relationships with brokers and clients. Share examples from your past experiences where you successfully secured new business or retained renewals through strong communication and negotiation skills.
✨Familiarize Yourself with Company Procedures
Review the company's procedures and compliance manuals before the interview. Being able to articulate how you would adhere to these processes will show that you are detail-oriented and understand the importance of compliance in underwriting.
✨Emphasize Your Commitment to Diversity and Inclusion
Discuss your understanding of diversity, equity, and inclusion in the workplace. Share any experiences you have that align with the company's commitment to building a diverse workforce and creating an inclusive environment.
