At a Glance
- Tasks: Lead underwriting profitability and performance management for a diverse portfolio.
- Company: Specialty insurance group focused on innovation and collaboration.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Other info: Join a diverse team committed to inclusion and equity.
- Why this job: Make a real impact in the insurance industry with your expertise.
- Qualifications: Proven underwriting experience and strong analytical skills required.
The predicted salary is between 54000 - 66000 £ per year.
Our client, a specialty insurance group, is looking for an experienced Portfolio Underwriting Manager to take ownership of the underwriting profitability of its portfolio. Working closely with the CUO, you will lead the selection, monitoring and performance management of the MGAs and classes of business the company underwrites.
The Role
- Conduct technical due diligence on around 20 MGAs, including evaluation of product design and distribution, underwriting risks and controls, historical performance, and the technical capability of MGA underwriting teams.
- Review and approve underwriting guidelines, pricing models, underwriting authority structures, and parameters for Binding Authority Agreements.
- Own monthly, quarterly and annual performance monitoring across the portfolio.
- Oversee MGA performance and KPIs, including pricing adequacy, adherence to Binding Authority Agreements, ultimate loss ratio and performance mix.
- Partner with MGAs and reinsurers on portfolio enhancements covering mix, pricing, product and terms and conditions.
- Lead technical audits across all classes of business.
- Manage exposure at class, product, geography, risk and peril level, coordinating with third-party catastrophe modellers on 1-in-250 and 1-in-500 year PML assessments as required.
- Review reinsurance arrangements alongside the Reinsurance Placement Officer and liaise with reinsurers on performance and MGA management.
- Run quarterly performance reviews with the actuarial and finance teams.
- Work with Program Managers on underwriting requirements.
About You
- Essential: Proven class underwriting experience (e.g. Property, Casualty, Financial Lines, Aviation, Marine).
- Extensive underwriting and performance management experience.
- Strong portfolio management and analytical capability.
- Experience with reinsurance structures and arrangements.
- Current, actively maintained knowledge of underwriting best practice in pricing and risk selection.
- Desirable: Underwriting experience gained at an insurer and/or an MGA.
- Depth of knowledge across multiple classes of business.
- Prior experience in a Portfolio Management or Underwriting Management role.
- Familiarity with, or exposure to, reinsurance.
Portfolio Underwriting Manager in London employer: Idex Consulting
Join a prestigious law firm in London that offers a dynamic and collaborative work environment, where your contributions to high-profile equity capital markets deals will be valued. With a strong commitment to employee development, you will have access to ongoing training and mentorship opportunities, ensuring your professional growth in a fast-paced global setting. The firm's culture promotes teamwork and innovation, making it an excellent place for ambitious solicitors looking to make a meaningful impact in their careers.
StudySmarter Expert Advice🤫
We think this is how you could land Portfolio Underwriting Manager in London
✨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 Idex Consulting). 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 Idex Consulting. 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 Portfolio Underwriting Manager in London
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 Idex Consulting.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Idex Consulting. 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 Idex Consulting
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Idex Consulting 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 Idex Consulting, 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 Idex Consulting'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.
