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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 competitive salary, 25 days holiday, and professional development opportunities.
- Why this job: Make a real impact in the insurance industry while working with a talented team.
- Qualifications: Extensive technical knowledge of motor insurance and strong analytical skills required.
- Other info: Dynamic environment with excellent career growth and a focus on performance improvement.
The predicted salary is between 55000 - 65000 ÂŁ 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.
The role ERS is a leading underwriter of a wide range of specialist motor insurance products. Within ERS’ strategy of being the UKs 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, 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.
- Provide substantial contribution to our “first line of defence” activities, using audit and peer-review tools, complemented by exception reporting and performance MI, to constantly 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 of people towards the achievement of a set of challenging financial targets.
- Possess 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).
- Have an analytical mindset with comprehensive skills using Microsoft Excel.
- Demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders.
- Produce coherent and comprehensive Microsoft PowerPoint presentations.
- Extensive commercial awareness, being able to spot and take advantage of opportunities.
- Detailed understanding of pricing practices and methodologies.
- Interpersonal skills which will allow you to build and maintain value-adding relationships.
- Extensive knowledge of and experience in a sophisticated underwriting control environment.
Desirable behavioural attributes
- Effective Communication Skills
- Initiative & Change
- Driving & Delivering Results
- Planning & Organising
- Analytical Mindset
- Problem Solving
- Decision Making
- Building Relationships
- Strategic Thinking
- Leadership
Competitive Benchmarked Salary
- 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
A full job description will be found here.
Senior Underwriter - Commercial employer: ERS
Contact Detail:
ERS Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter - Commercial
✨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 or even a referral.
✨Tip Number 2
Prepare for interviews by researching ERS and its products. Understand their underwriting strategy and be ready to discuss how your experience aligns with their goals. Show them you’re not just another candidate!
✨Tip Number 3
Practice your pitch! Be clear about your skills and how they can benefit ERS. Highlight your analytical mindset and experience in pricing practices, as these are key for the Senior Underwriter role.
✨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
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 ERS. 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 practices!
Showcase Your Analytical Skills: Since this role requires an analytical mindset, make sure to include examples of how you've used data to drive decisions in your previous roles. We want to see how you can integrate market intelligence into product 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
Make sure you have a solid understanding of the specialist motor insurance products ERS offers. Familiarise yourself with the features, market dynamics, and customer needs. This will help you demonstrate your expertise and show that you're ready to contribute to the underwriting strategy.
✨Showcase Your Analytical Skills
Prepare to discuss how you've used data analysis in previous roles. Be ready to share specific examples of how you've defined, measured, and tracked portfolio and pricing metrics. This will highlight your analytical mindset and ability to drive performance improvements.
✨Build Relationships with Stakeholders
Think about how you've collaborated with different teams in the past. Be prepared to talk about your interpersonal skills and how you've maintained value-adding relationships. This is crucial for working closely with the Pricing and Technology teams at ERS.
✨Prepare for Technical Questions
Expect questions that test your knowledge of pricing practices and methodologies. Brush up on your understanding of risk selection and underwriting controls. Being able to articulate your insights will show that you can contribute to enhancing ERS's pricing capability.