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For Companies At a Glance
- Tasks: Lead the development of innovative motor insurance strategies and collaborate with a dynamic team.
- Company: Join ERS, the UK's largest specialist motor insurer with an A+ rating.
- Benefits: Enjoy competitive salary, career growth, and a supportive work environment.
- Why this job: Make a real impact in the motor insurance industry while working with experts.
- Qualifications: Proven experience in underwriting and strong analytical skills required.
- Other info: Be part of a forward-thinking company focused on sustainable growth.
The predicted salary is between 36000 - 60000 £ per year.
Overview
ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer's needs.
The role
ERS is a leading underwriter of a wide range of specialist motor insurance products. Within ERS' strategy of being the UK's leading specialist motor insurer, our focus is on delivering sustainable, high margin growth through the provision of quality propositions to a wide range of broker partners. The Senior Underwriter's primary responsibilities are for the execution of our underwriting strategy and development of our underwriting appetite, working closely with the Pricing and Technology teams, as well as other stakeholders across the business including our operations teams.
Key responsibilities
- Leading the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise whilst being responsible for executing the underwriting strategy through working with the product delivery team.
- Contributing to the management of portfolio performance through the analysis of results, execution of our selection and pricing strategies and providing recommendations that will drive continuous performance improvement, thus ensuring that we will meet or exceed our financial plans.
- Working alongside the Product Performance Analysts within the team, providing them with direction and support to improve their knowledge and utilising their skills to support the delivery of our strategic goals.
- Providing input to constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix.
- Acting as a point of technical referral from other members of the underwriting team, brokers, and other internal functions, using your extensive risk, product and pricing knowledge to inform appropriate decisions in respect of those referrals.
- Provide feedback to Product Managers & Heads of Class and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing.
- Working closely with all areas of the business to ensure that we deliver a clear and seamless set of propositions to the market.
- Providing substantial contribution to our "first line of defence" activities, using audit and peer-review tools, complimented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure that all business is being written in accordance with our stated underwriting authorities, agreed processes and in compliance with our regulatory and conduct standards.
The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Essential qualifications, skills and experience
This role carries strategic input and financial responsibility as well as being recognised as a market leading subject matter expert in our product(s). We therefore require our role-holders to demonstrate leadership and management capabilities and to possess the following skills, attributes and knowledge:
- The ability to collaborate with a talented team of people towards the achievement of a set of challenging financial targets.
- Possessing extensive technical knowledge of the product(s), including the features of the product, factors that drive product performance, market dynamics which influence how the product is delivered and the requirements of customers using the product(s).
- To demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally.
- The ability to produce coherent and comprehensive Microsoft PowerPoint presentations to be presented at various committees, including senior stakeholders, both internally and externally.
- Extensive commercial awareness, being able to spot and take advantage of opportunities and to fulfil their role in a way which enhances our financial performance.
- Detailed understanding of pricing practices and methodologies with the ability and experience to help us constantly enhance our pricing capability, providing insight and feedback on our pricing models.
Desirable behavioural attributes
- Effective Communication Skills
- Initiative & Change
- Driving & Delivering Results
- Planning & Organising
- Analytical Mindset
- Problem Solving
- Decision Making
- Commercial Awareness (including Financial Awareness)
- Building Relationships
- Strategic Thinking
- Leadership
Benefits
A full job description will be found here.
Senior Underwriter - Motor Innovation in London employer: ERS Administration Services
Contact Detail:
ERS Administration Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter - Motor Innovation in London
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect with professionals on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its products. Understand their market position and be ready to discuss how your skills can help them achieve their goals. Tailor your answers to show you're the perfect fit for their team.
✨Tip Number 3
Practice makes perfect! Conduct mock interviews with friends or use online resources to refine your responses. The more comfortable you are speaking about your experience and skills, the more confident you'll feel during the real deal.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're genuinely interested in joining our team at ERS.
We think you need these skills to ace Senior Underwriter - Motor Innovation in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter to highlight your experience in motor insurance and underwriting. We want to see how your skills align with our needs, so don’t hold back on showcasing your expertise!
Showcase Your Achievements: When detailing your past roles, focus on specific achievements that demonstrate your ability to drive results. Use numbers and examples to illustrate how you've contributed to portfolio performance or improved underwriting strategies.
Be Clear and Concise: Keep your application straightforward and to the point. We appreciate clarity, so avoid jargon and ensure your key points stand out. This will help us quickly see why you’re a great fit for the Senior Underwriter role.
Apply Through Our Website: We encourage you to submit your application directly through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy!
How to prepare for a job interview at ERS Administration Services
✨Know Your Stuff
Make sure you brush up on your technical knowledge of motor insurance products. Understand the market dynamics and be ready to discuss how these factors influence product performance. This will show that you’re not just familiar with the basics, but that you can contribute to the strategic development of underwriting.
✨Showcase Your Analytical Skills
Prepare to discuss specific examples where you've analysed portfolio performance or pricing strategies. Be ready to explain how your insights led to improvements. This will demonstrate your analytical mindset and problem-solving abilities, which are crucial for the role.
✨Communicate Clearly
Practice presenting your ideas clearly and confidently, especially if you're asked to create a PowerPoint presentation. Being able to convey complex information in a straightforward manner is key, as you'll need to communicate effectively with senior stakeholders.
✨Demonstrate Leadership Qualities
Think of instances where you've led a team or project. Highlight your ability to collaborate and drive results, as well as how you've supported others in their roles. This will help illustrate your leadership capabilities, which are essential for a Senior Underwriter.
