At a Glance
- Tasks: Support Underwriters in managing Delegated Authority processes and ensure compliance.
- Company: Join Hiscox, a leader in the insurance industry with a focus on innovation.
- Benefits: Enjoy hybrid working, competitive salary, and a commitment to diversity.
- Other info: Flexible work-life balance with opportunities for career growth.
- Why this job: Make an impact in a dynamic team while developing your skills in a supportive environment.
- Qualifications: Experience in a busy office, strong attention to detail, and excellent communication skills.
The predicted salary is between 35000 - 45000 £ per year.
Build a brilliant future with Hiscox
The Team
The London Market Delegated Authority Team is part of the HSL Operations and Governance Team and supports Underwriters in delegating underwriting authority. Reporting to the London Market Head of Delegated Authority, the team balances compliance and business needs to minimize regulatory and reputational risks. We facilitate new business relationships and ensure adherence to regulatory requirements by staying updated on regulatory changes. Our team values meeting deadlines, delivering exceptional service, and maintaining strong communications with stakeholders. We touch on many different parts of the Syndicate, including Underwriters and Operations, as well as having external contact with Lloyd’s, other Managing Agents, Brokers and Coverholders.
The Role
The purpose of this role is to support Underwriters in navigating the Delegated Authority processes at Hiscox. This involves managing the pipeline of upcoming Binders, setting Binders up on our underwriting system and initiating the due diligence workflow, preparing Financial Crime Risk Assessments, completing certain Post Bind tasks or Control Monitoring activities and escalating any non-adherence in a timely manner. The role requires excellent attention to detail as well as strong organisational skills and the ability to multitask.
Main Responsibilities
- Managing the pipeline of upcoming Binders
- Preparing the Set Up tasks on all Binders
- Cross referencing Coverholder details between the Contract, Openbox and Atlas
- Maintaining Coverholder address details on Openbox
- Assessing the Financial Crime Risk Rating of Coverholders and Binders
- Facilitating post-bind activities, such as the Binder Expert Reviews
- Monitoring the completion of Follow DCOM entries
- Following up with Brokers when Binders are not registered on DCOM
- Monitoring various Controls to ensure adherence to requirements and that any approvals required have been obtained
- Monitoring the completion of Lineslip Tasks by Underwriters
- Monitoring the completion of Coverholder review Meetings by Underwriters
- Completing Due Diligence reviews as required
- Performing general administrative duties such as profiling or mailbox monitoring
- Other ad-hoc duties as required
The Candidate
Ideal Traits
- Detail-oriented and enjoys researching information
- Passionate about high-quality service
- Ability to manage high volumes of tasks
- Independent thinker and decision-maker
- Excellent communication skills
Who needn’t apply?
- Those who cannot handle fluctuating workloads
- Those who dislike repetitive tasks or high-pressure environments
- Those who need micro-management
Must haves
- Experience in a busy office environment
- Strong attention to detail and great accuracy
- A proactive mindset and the initiative to pre-empt issues or explore possibilities before raising queries
- Effective prioritisation and organisational skills
- Strong stakeholder communication skills
Nice to have
- London Market / Lloyd’s Insurance experience
- Delegated Authority Experience
- Familiarisation with Lloyd’s DA Systems eg Atlas / DCOM
- Experience using AI tools to enhance ways of working
Diversity & 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 that working life doesn’t always have to be in the office, so we have introduced hybrid working to encourage a healthy work life balance. 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.
Delegated Authority Technician employer: Hiscox SA
Hiscox is an exceptional employer that prioritises the well-being and growth of its employees, offering a hybrid working model that promotes a healthy work-life balance. With a strong focus on diversity and inclusion, the company fosters a collaborative and supportive work culture where team members are encouraged to take initiative and develop their skills. Located in London, the Delegated Authority Technician role provides unique opportunities to engage with various stakeholders in the insurance industry while ensuring compliance and delivering high-quality service.
StudySmarter Expert Advice🤫
We think this is how you could land Delegated Authority Technician
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Hiscox SA). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Hiscox SA. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Delegated Authority Technician
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Hiscox SA.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Hiscox SA. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Hiscox SA
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Hiscox SA to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Hiscox SA, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Hiscox SA's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
