Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Lead the development and execution of underwriting strategies for specialist motor insurance products.
- Company: IQUW is a top-tier (re)insurer at Lloyd’s, specializing in diverse insurance products.
- Benefits: Enjoy competitive salary, 25 days holiday, bonuses, and professional development support.
- Why this job: Join a market leader, collaborate with experts, and make impactful decisions in a dynamic environment.
- Qualifications: Extensive technical knowledge in underwriting, strong analytical skills, and excellent interpersonal abilities required.
- Other info: Opportunity to work closely with brokers and contribute to strategic financial goals.
The predicted salary is between 48000 - 84000 £ per year.
Overview
About us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
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.
You will be responsible for materially contributing to the achievement of our short to medium-term financial plans through translating specialist underwriting knowledge into an implementable set of rules.
The role is highly market visible, involving extensive broker contact when communicating our strategy, managing the financial performance of existing relationships and in seeking to broaden our market penetration.
Success in the role requires extensive technical expertise in our product(s) and frequent collaboration with other business functions to ensure that we leverage capabilities from across the business in delivering first class propositions to our chosen market.
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.
- Understanding the risk environment in which we operate. Contribution to the identification and mitigation of the key risks which threaten the success and sustainability of our business.
- 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.
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).
- An analytical mindset with comprehensive skills using Microsoft Excel within your role.
- 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
- Interpersonal skills which will allow you to build and maintain value-adding relationships. You must be able to articulate what a mutually beneficial relationship looks like and be comfortable having difficult conversations with business-partners and colleagues.
- Extensive knowledge of and experience in a sophisticated underwriting control environment which allows us to execute ‘first line of defence’ activity, with a focus on constant performance improvement.
Benefits
- 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
Additional Information
A full job description can be seen here.
#J-18808-Ljbffr
Senior Underwriter - Personal Lines Motor employer: ERS
Contact Detail:
ERS Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter - Personal Lines Motor
✨Tip Number 1
Familiarize yourself with the latest trends in the motor insurance market. Understanding the dynamics and challenges faced by brokers will help you engage in meaningful conversations and demonstrate your expertise during interviews.
✨Tip Number 2
Network with professionals in the insurance industry, especially those involved in motor insurance. Attend relevant events or webinars to build relationships and gain insights that could give you an edge in your application.
✨Tip Number 3
Prepare to discuss specific examples of how you've contributed to underwriting strategies in previous roles. Highlight your analytical skills and ability to improve portfolio performance through data-driven decisions.
✨Tip Number 4
Showcase your ability to collaborate across teams. Be ready to explain how you've worked with pricing, technology, and operations teams to deliver successful insurance products, as this is crucial for the Senior Underwriter role.
We think you need these skills to ace Senior Underwriter - Personal Lines Motor
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and qualifications required for the Senior Underwriter position. Tailor your application to highlight your relevant experience in underwriting and your knowledge of motor insurance products.
Highlight Technical Expertise: In your CV and cover letter, emphasize your extensive technical knowledge of underwriting practices, pricing methodologies, and market dynamics. Provide specific examples of how you've successfully managed portfolios or contributed to financial performance in previous roles.
Showcase Analytical Skills: Demonstrate your analytical mindset by including examples of how you've used data analysis to inform underwriting decisions. Mention your proficiency with Microsoft Excel and any relevant tools that support your analytical capabilities.
Communicate Effectively: Your application should reflect strong communication skills. Use clear and concise language, and if applicable, mention your experience in creating presentations for senior stakeholders. This will show that you can articulate complex information effectively.
How to prepare for a job interview at ERS
✨Showcase Your Technical Expertise
Make sure to highlight your extensive technical knowledge of motor insurance products during the interview. Be prepared to discuss specific features, market dynamics, and how they influence product performance.
✨Demonstrate Analytical Skills
Since the role requires an analytical mindset, be ready to provide examples of how you've used data analysis in previous positions. Familiarize yourself with Microsoft Excel and be prepared to discuss how you've leveraged it for portfolio performance management.
✨Prepare for Stakeholder Engagement
The position involves significant interaction with brokers and senior stakeholders. Practice articulating your thoughts clearly and confidently, and prepare to discuss how you would manage relationships and navigate difficult conversations.
✨Understand the Underwriting Strategy
Research IQUW's underwriting strategy and be ready to discuss how you can contribute to its execution. Think about how you would refine underwriting appetites and take advantage of market opportunities based on your past experiences.
