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- Tasks: Lead profitable growth in the South Region's Professions and Specialty Commercial business.
- Company: Hiscox is a top insurance brand known for innovation and exceptional service.
- Benefits: Enjoy hybrid working, a supportive culture, and opportunities for career growth.
- Why this job: Join a diverse team, influence strategy, and work with unique clients.
- Qualifications: Strong communication skills and ideally ACII qualified or relevant experience.
- Other info: Flexible working model tailored by the team for a balanced lifestyle.
The predicted salary is between 43200 - 72000 £ per year.
Development Underwriter
Hiscox Ltd Maidenhead, United Kingdom Apply now Posted 1 month ago Permanent Competitive
Job Type:
Permanent
Build a brilliant future with Hiscox
Build a brilliant future with Hiscox
Hiscox UK is a leading brand in the insurance market, recognised as setting the standards others try to emulate. We consistently deliver strong growth and exceptional returns, recruiting only the very best and empowering them to deliver. We are known for insuring the homes of the rich and famous through to the most innovative technology companies. Our customers are diverse and unique and are only united by our ability to provide specialist insurance tailored to their needs.
The Role
Reporting to the Regional Manager, you will assist leading the profitable growth of the South Region Professions and Specialty Commercial business. We\’re looking for an experienced Underwriter, ideally with professional indemnity expertise.
What you\’ll be doing
• Being recognised as an experienced underwriter within your region by your brokers, owning a broker panel for development
• Underwriting larger, more complex commercial cases consistently and profitably
• Leading the setting and execution of the local underwriting strategy for your specialist area in conjunction with the Regional Manager and Regional Underwriting Manager
• Influencing the UK Product Heads on underwriting appetite and strategy
• Leading underwriting in your specialist area by taking referrals of more complex risks (possibly from outside the region)
• Leading underwriting and sales visits to larger clients and prospects
• Ensuring that the target retention rate for the region is achieved, handling some cases yourself
• Developing close, effective relationships with brokers to develop new opportunities to significantly contribute to the team new business targets
• Increasing submission & conversion numbers through large client prospecting
• Building product specific knowledge and sales skills amongst underwriters
• Understanding of the underwriting lifecycle including policy wordings, pricing & claims
• Understanding of pricing a risk and the factors that can affect pricing
• Good knowledge of the insurance market, industry, competitors, brokers and factors that can affect the market including soft/hard markets
Our must-haves:
• Strong communication, relationship management and interpersonal skills
• Demonstrates a hunger for winning business
• Able to make intelligent and innovative business decisions
• An appreciation and understanding of legal and regulatory guidelines
• Ideally ACII qualified or exempt through relevant experience as defined by the FCA
Diversity and Hybrid working
At Hiscox we care about our people. We hire the best people for the job and we\’re committed to diversity and creating a truly inclusive culture, which we believe drives success. We have also learned over the past few years that working life doesn\’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance. We anticipate the successful candidate for this role will be in our Bristol hub office or seeing brokers in the South-West up to 2-3 days per week. Once a month, we get together as a region in our Maidenhead or London office.
This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.
Work with amazing people and be part of a unique culture
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Development Underwriter employer: Hiscox Ltd
Contact Detail:
Hiscox Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Development Underwriter
✨Tip Number 1
Network with professionals in the insurance industry, especially those who work as underwriters or brokers. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends in underwriting.
✨Tip Number 2
Familiarise yourself with Hiscox's products and services, particularly in the areas of professional indemnity and specialty commercial business. This knowledge will help you demonstrate your understanding of their offerings during interviews.
✨Tip Number 3
Prepare to discuss your experience with complex underwriting cases and how you've successfully managed relationships with brokers. Be ready to share specific examples that highlight your skills in these areas.
✨Tip Number 4
Stay updated on the current market conditions and regulatory changes affecting the insurance industry. This will not only enhance your knowledge but also show your commitment to staying informed and adaptable in a dynamic environment.
We think you need these skills to ace Development Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of a Development Underwriter at Hiscox. Tailor your application to highlight relevant experience in underwriting, especially in professional indemnity.
Highlight Relevant Experience: In your CV and cover letter, emphasise your experience with complex commercial cases and your ability to build relationships with brokers. Use specific examples to demonstrate your skills in underwriting and business development.
Showcase Your Skills: Make sure to showcase your strong communication and relationship management skills in your application. Mention any relevant qualifications, such as ACII, and how they relate to the role.
Personalise Your Application: Address your application to the hiring manager if possible, and express your enthusiasm for working at Hiscox. Mention their commitment to diversity and hybrid working, and how that aligns with your values.
How to prepare for a job interview at Hiscox Ltd
✨Know Your Underwriting Basics
Make sure you have a solid understanding of the underwriting lifecycle, including policy wordings, pricing, and claims. Brush up on your knowledge of professional indemnity and complex commercial cases, as this will be crucial in demonstrating your expertise during the interview.
✨Showcase Your Relationship Management Skills
Since building effective relationships with brokers is key for this role, prepare examples of how you've successfully managed broker relationships in the past. Highlight any specific instances where your communication skills led to new business opportunities.
✨Demonstrate Your Business Acumen
Be ready to discuss how you make intelligent and innovative business decisions. Think of examples where your strategic thinking has positively impacted your previous employer's growth or profitability, especially in relation to underwriting.
✨Understand the Market Dynamics
Familiarise yourself with the current state of the insurance market, including trends, competitors, and the factors affecting soft and hard markets. This knowledge will help you engage in informed discussions and show that you're proactive about staying updated in your field.
