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For Companies At a Glance
- Tasks: Join our Schemes team to create tailored insurance solutions for unique clients.
- Company: Hiscox UK is a leading insurance brand known for innovation and exceptional service.
- Benefits: Enjoy flexible working options and a supportive, inclusive culture.
- Why this job: Be part of a market-leading team driving growth and making impactful decisions.
- Qualifications: Previous schemes underwriting experience preferred; strong decision-making and interpersonal skills required.
- Other info: Opportunity to mentor junior team members and develop as a sector expert.
The predicted salary is between 48000 - 72000 £ per year.
Job Type:
Permanent
Build a brilliant future with Hiscox
About Hiscox UK
Hiscox UK is a leading brand in the insurance market, recognized 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 Team
A key part of our UK Retail Insurance business, our Schemes team specialises in creating and managing tailored insurance solutions, known as \”Schemes,\” for specific groups of clients with niche insurance needs. They work closely with brokers to develop these bespoke packages and identify new business opportunities within those sectors. The team handles the entire process, from initial concept to implementation, offering support throughout.
The Role
As a Schemes Underwriter, you will be an integral part of our market-leading team, delivering bespoke solutions for niche customer groups managed by our broker partners.
You will work across the existing portfolio of schemes business ,collaborating with the wider Schemes Team, including underwriting, operations, sales, and senior leadership, where you will drive improvement and profitable growth of our Schemes portfolio. Your role will be crucial in realising our ambitions of growing the book in line with our strategic goals.
You will be responsible for underwriting and servicing our schemes partner brokers, as well as helping to shape and drive our wider underwriting strategy and growth.
What you\’ll be doing:
- Delivering exceptional service to our brokers, dealing with referrals and writing more complex business
- In conjunction with Sector lead and schemes underwriting team responsible and accountable for the profitable growth of schemes
- Challenge convention on a regular basis, able to suggest and execute effective growth and portfolio underwriting strategies to ensure sustained profitable growth
- Keep abreast of new risks and exposures within our chosen sectors to ensure Hiscox market leading position is maintained.
- Working with the Sector lead to help develop new products and propositions and maximise the opportunity within our current/future portfolios of business
- As a senior member of the team take an active role in mentoring and developing more junior members of the team.
- Working with the Sector lead around shaping and driving the underlying underwriting strategy and portfolio of business to deliver our ambitions
- Taking underwriting ownership, relationship management and accountability for some of our key strategic broker partners
- Operating within the Consumer sub-sector
Candidate Profile
Our must-haves:
- Ability to make a confident decision in difficult and complex situations
- Strong interpersonal skills and ability to work independently in a collaborative environment
- Previous Schemes underwriting experience specifically relating to consumer products is preferred.
- ACII qualification or progression towards is preferred but not essential
- Comfortable analysing, making and executing underwriting recommendations on portfolios of business or willing to learn these skills
- Interest in developing as a potential sector expert in a specialist area
- Able to demonstrate influencing and negotiation skills
- Open to new ideas, innovation and educated risk taking
Diversity and flexible working at Hiscox
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 also understand that working life doesn\’t always have to be \’nine to five\’ and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.
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Schemes Underwriter - Consumer | London, UK employer: Hiscox Ltd
Contact Detail:
Hiscox Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Schemes Underwriter - Consumer | London, UK
✨Tip Number 1
Familiarise yourself with the latest trends in consumer insurance. Understanding the unique needs of niche markets will help you stand out during discussions with the Schemes team and demonstrate your proactive approach.
✨Tip Number 2
Network with professionals in the insurance sector, especially those involved in schemes underwriting. Attend industry events or join relevant online forums to build connections that could provide insights and referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed complex underwriting situations in the past. This will showcase your decision-making skills and ability to handle challenging scenarios effectively.
✨Tip Number 4
Demonstrate your willingness to learn and adapt by researching Hiscox's current portfolio and recent developments in the insurance market. Showing that you're informed about their operations can set you apart from other candidates.
We think you need these skills to ace Schemes Underwriter - Consumer | London, UK
Some tips for your application 🫡
Understand the Role: Read the job description thoroughly to understand the responsibilities and requirements of the Schemes Underwriter position. Tailor your application to highlight how your skills and experiences align with what Hiscox is looking for.
Highlight Relevant Experience: Emphasise any previous experience in schemes underwriting, particularly related to consumer products. Use specific examples to demonstrate your ability to make confident decisions in complex situations and your strong interpersonal skills.
Showcase Your Skills: In your CV and cover letter, showcase your analytical skills and your ability to execute underwriting recommendations. Mention any relevant qualifications, such as ACII, or your willingness to progress towards them.
Personalise Your Application: Make sure to personalise your cover letter by addressing it to the hiring manager if possible. Express your enthusiasm for the role and the company, and mention how you can contribute to the growth and success of the Schemes team at Hiscox.
How to prepare for a job interview at Hiscox Ltd
✨Understand the Schemes Underwriting Process
Familiarise yourself with the specific underwriting processes related to consumer products. Be prepared to discuss how you would approach complex situations and make confident decisions, as this is crucial for the role.
✨Showcase Your Interpersonal Skills
Since the role involves working closely with brokers and team members, demonstrate your strong interpersonal skills. Share examples of how you've successfully collaborated in previous roles or how you've managed relationships with key stakeholders.
✨Prepare for Scenario-Based Questions
Expect questions that assess your ability to handle difficult and complex situations. Prepare by thinking of past experiences where you had to analyse risks and make underwriting recommendations, showcasing your problem-solving skills.
✨Express Your Interest in Continuous Learning
Highlight your willingness to learn and develop as a sector expert. Discuss any relevant qualifications, such as your ACII progression, and express your enthusiasm for staying updated on new risks and exposures in the insurance market.
