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- Tasks: Lead the underwriting strategy for specialist motor insurance and collaborate with key stakeholders.
- Company: Join ERS, the UK's largest specialist motor insurer with an A+ rating.
- Benefits: Enjoy a competitive salary, 25 days holiday, and professional development opportunities.
- Other info: Dynamic environment with opportunities for career growth and continuous performance improvement.
- Why this job: Make a real impact in the insurance industry while working with a talented team.
- Qualifications: Extensive knowledge of underwriting and strong analytical skills required.
The predicted salary is between 60000 - 75000 £ per year.
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.
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:- Support the Commercial Lines Class Head and Product Manager(s).
- Work with key stakeholders to shape and grow the portfolio ensuring our strategy supports delivery of the financial plan.
- Define, measure and track portfolio and pricing metrics to evaluate product performance and support the Class Product Manager(s) to implement strategies that improve profitability and support business objectives.
- Integrate external market intelligence into product strategy ensuring our offering remains competitive, commercially viable and aligned with business objectives.
- Identify trends and evaluate conclusions using up to date data analytical methods and technology.
- Lead 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.
- Contribute 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.
- Work 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.
- Provide 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.
- Act as a point of technical referral from other members of the underwriting team, brokers, and other internal functions.
- Provide feedback to Product Managers & Heads of Class and to members of our Pricing team relating to the effectiveness of our risk pricing models.
- Contribute to our "first line of defence" activities, using audit and peer-review tools to assess and monitor our underwriting activities.
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:- Demonstrate leadership and management capabilities.
- Collaborate with a talented team towards the achievement of challenging financial targets.
- Possess extensive technical knowledge of the product(s) and market dynamics.
- Have an analytical mindset with comprehensive skills using Microsoft Excel.
- Demonstrate gravitas and clarity of purpose to give confidence to senior stakeholders.
- Produce coherent and comprehensive Microsoft PowerPoint presentations.
- Exhibit extensive commercial awareness and the ability to spot opportunities.
- Understand pricing practices and methodologies.
- Build and maintain value-adding relationships.
- Have extensive knowledge of and experience in a sophisticated underwriting control environment.
- Effective Communication Skills
- Initiative & Change
- Driving & Delivering Results
- Planning & Organising
- Analytical Mindset
- Problem Solving
- Decision Making
- Building Relationships
- Strategic Thinking
- Leadership
- 25 days holiday
- Discretionary bonus scheme
- Employee assistance programme
- Annual holiday buy (up to 3 extra days)
- Salary sacrifice benefits
- Annual benefits reviews
- The option for professional qualifications and study support
Senior Underwriter - Commercial in London employer: ERS
Contact Detail:
ERS Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter - Commercial in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work with motor insurance. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge and market trends. Be ready to discuss how your experience aligns with ERS's underwriting strategy and how you can contribute to their growth.
✨Tip Number 3
Showcase your analytical skills! Bring examples of how you've used data to drive decisions in previous roles. This will demonstrate your ability to evaluate product performance and support the financial plan.
✨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 the ERS team.
We think you need these skills to ace Senior Underwriter - Commercial in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Underwriter role. Highlight your experience in underwriting, especially in commercial lines, and showcase any relevant achievements that align with our focus on delivering quality propositions.
Craft a Compelling Cover Letter: Your cover letter should tell us why you're the perfect fit for this role. Share your passion for motor insurance and how your skills can help us achieve our strategic goals. Don't forget to mention your analytical mindset and experience with pricing strategies!
Showcase Your Technical Skills: We love candidates who can demonstrate their technical knowledge. Be sure to highlight your proficiency in Microsoft Excel and any experience you have with data analysis or market intelligence that can support our underwriting strategy.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at ERS
✨Know Your Products Inside Out
As a Senior Underwriter, you'll need to demonstrate extensive technical knowledge of the products. Make sure you research ERS's offerings and understand the features, market dynamics, and customer requirements. This will help you articulate how your expertise aligns with their underwriting strategy.
✨Showcase Your Analytical Skills
Prepare to discuss your experience with data analysis and how you've used tools like Microsoft Excel to evaluate product performance. Be ready to share specific examples of how you've identified trends and made data-driven decisions that improved profitability in previous roles.
✨Demonstrate Strong Communication Skills
You'll be interacting with various stakeholders, so practice articulating complex ideas clearly and confidently. Prepare a few key points about your past experiences that highlight your ability to build relationships and have difficult conversations, as this is crucial for the role.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving and decision-making abilities. Think of scenarios where you've had to refine underwriting appetites or improve pricing strategies. Use the STAR method (Situation, Task, Action, Result) to structure your responses effectively.