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- Tasks: Lead the development and execution of underwriting strategies for specialist motor insurance products.
- Company: Join ERS, the UK's largest specialist motor insurer with an A+ rating.
- Benefits: Enjoy a competitive salary, 25 days holiday, and professional development support.
- Why this job: Make a real impact in the insurance industry while working with a talented team.
- Qualifications: Extensive technical knowledge of motor insurance and strong analytical skills required.
- Other info: Dynamic role with opportunities for career growth and continuous performance improvement.
The predicted salary is between 36000 - 60000 Ā£ per year.
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; itās a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isnāt enough. Thatās 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 customerās needs.
ERS is a leading underwriter of a wide range of specialist motor insurance products. Within ERSā strategy of being the UKās 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 Underwriterās 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.
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.
- Provide feedback to Product Managers & Heads of Class and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing.
- Providing substantial contribution to our āfirst line of defenceā activities, using audit and peer-review tools, complemented 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.
Essential qualifications, skills and experience:- 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 āfirst line of defenceā activity, with a focus on constant performance improvement.
- Effective Communication Skills
- Initiative & Change
- Driving & Delivering Results
- Planning & Organising
- Analytical Mindset
- Problem Solving
- Decision Making
- Commercial Awareness (including Financial Awareness)
- Building Relationships
- Strategic Thinking
- Leadership
- 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
Senior Underwriter - Commercial in City of London employer: IQUW Group
Contact Detail:
IQUW Group Recruiting Team
StudySmarter Expert Advice š¤«
We think this is how you could land Senior Underwriter - Commercial in City of London
āØTip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work with motor insurance. A friendly chat can lead to insider info about job openings or even a referral.
āØTip Number 2
Prepare for interviews by brushing up on your technical knowledge and market trends. Be ready to discuss how your experience aligns with ERS's underwriting strategy and how you can contribute to their growth.
āØTip Number 3
Showcase your analytical skills! Bring examples of how you've used data to drive decisions in previous roles. This will demonstrate your ability to manage portfolio performance effectively.
āØTip Number 4
Donāt forget to apply through our website! Itās the best way to ensure your application gets noticed. Plus, it shows youāre genuinely interested in joining the team at ERS.
We think you need these skills to ace Senior Underwriter - Commercial in City of London
Some tips for your application š«”
Tailor Your CV: Make sure your CV is tailored to the Senior Underwriter role. Highlight your relevant experience in underwriting and any specific skills that match the job description. We want to see how you can contribute to our underwriting strategy!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about motor insurance and how your expertise aligns with our goals at ERS. Let us know what makes you the perfect fit for our team.
Showcase Your Analytical Skills: Since this role requires an analytical mindset, be sure to include examples of how you've used data analysis in your previous roles. We love seeing how you can leverage your skills to drive performance improvement!
Apply Through Our Website: We encourage you to apply directly through our website. Itās the best way for us to receive your application and ensures youāre considered for the role. Plus, it shows us youāre keen on joining our team!
How to prepare for a job interview at IQUW Group
āØKnow Your Products Inside Out
Make sure you have a solid understanding of the specialist motor insurance products that ERS offers. Familiarise yourself with the features, market dynamics, and customer needs. This will not only help you answer questions confidently but also demonstrate your genuine interest in the role.
āØShowcase Your Analytical Skills
Since the role requires an analytical mindset, be prepared to discuss how you've used data analysis in previous roles. Bring examples of how you've utilised Microsoft Excel to drive performance improvements or inform decision-making. This will highlight your capability to contribute to portfolio management effectively.
āØPrepare for Technical Questions
Expect to face technical questions related to underwriting strategies and pricing practices. Brush up on your knowledge of risk selection and pricing methodologies. Being able to articulate your thought process and provide insights will impress the interviewers and show that you're ready to take on the responsibilities of the role.
āØDemonstrate Leadership and Collaboration
As a Senior Underwriter, you'll need to lead and collaborate with various teams. Prepare examples of how you've successfully led projects or worked with cross-functional teams in the past. Highlight your interpersonal skills and ability to build relationships, as this is crucial for driving results and achieving financial targets.
