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For Companies At a Glance
- Tasks: Underwrite for Ports & Terminals, assess risks, and optimise portfolios using data analytics.
- Company: Join IQUW, a dynamic specialty (re)insurer at Lloyd’s with a collaborative culture.
- Benefits: Enjoy competitive salary, generous holiday allowance, and professional development support.
- Why this job: Make an impact in a unique role combining underwriting skills with exposure management expertise.
- Qualifications: Strong underwriting experience, analytical skills, and excellent communication abilities required.
- Other info: Thriving environment focused on empowerment, inclusivity, and career growth opportunities.
The predicted salary is between 36000 - 60000 £ per year.
About Us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast. Our group thrives on four core values: Empowerment, Collaboration, Drive, and Inclusivity. We encourage initiative and value each member's contributions, fostering teamwork for innovative solutions, staying motivated to achieve our goals, and ensuring everyone feels respected and valued. Together, we create a supportive and dynamic environment where everyone can flourish.
The Role
This underwriting role within the Ports & Terminals team is a unique opportunity for individuals who can combine strong technical underwriting skills with exposure management expertise. You will be underwriting for the Ports & Terminals class of business while ensuring robust catastrophe exposure assessment and portfolio optimization. The role requires a highly analytical approach, strong broker relationships, and the ability to integrate exposure analytics into underwriting decisions. You will look to develop and leverage tools that enable us to calculate appropriate premiums in cases when the historic record provides insufficient data, and understand, quantify and manage exposure to future catastrophic loss events, steering the business to create a resilient and sustainable portfolio of insured risks. Overall book analysis, preparation of statistics and various other analytical tasks and skills will also be required.
Key Responsibilities
- Deliver the underwriting strategy for Ports & Terminals in line with risk appetite and profitability targets.
- Underwrite all elements of the portfolio, ensuring pricing adequacy, contractual terms, and adherence to guidelines.
- Develop and maintain strong broker and client relationships to drive profitable growth.
- Support digitization and efficiency improvements in placement processes.
- Incorporate catastrophe exposure considerations into underwriting decisions, ensuring aggregate positions are well understood and controlled.
- Collaborate with Exposure Management and Research teams to cascade IQUW’s “View of Risk” into underwriting processes.
- Utilize exposure analytics and dashboards to monitor aggregate catastrophe exposures (natural and non-natural perils).
- Contribute to outwards reinsurance strategy by providing portfolio exposure insights.
- Assist in event response and loss estimation, sourcing data from multiple inputs.
- Help to design reporting and metrics and continual improvement, automation and development of new analysis tools that clearly communicate the exposed risk to a range of stakeholders with varied perspectives and expertise.
Essential Qualifications, Skills and Experience
- A proven track record of strong underwriting and/or exposure management performance.
- Ability to interpret and apply exposure data to underwriting decisions.
- Excellent communication and negotiation skills with brokers and clients of all levels of seniority and the ability to build effective professional relationships.
- Demonstrable experience of managing tasks appropriately, applying judgement and being prepared to own and take responsibility for their decisions.
- Strong Excel capability, including experience working with large datasets.
- An unwavering appetite to increase the profitability of the portfolio and become an integral part of a developing class within IQUW.
Benefits
- Competitive Benchmarked Salary: Ensuring fair compensation aligned with industry standards.
- Generous Holiday Allowance: 25 days of holiday each year.
- Discretionary Bonus Scheme: Rewarding exceptional performance.
- Employee Assistance Programme: Providing support for personal and professional challenges.
- Annual Holiday Buy: Option to purchase up to 3 additional days of holiday.
- Salary Sacrifice Benefits: Tax-efficient ways to access additional benefits.
- Annual Benefits Reviews: Regular evaluations to ensure the best offerings.
- Professional Development: Support for your Professional Qualifications, we’re committed to your professional growth and will support you every step of the way.
Underwriter - Ports & Terminals in City of London employer: IQUW Property Insurance
Contact Detail:
IQUW Property Insurance Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter - Ports & Terminals in City of London
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those connected to IQUW. Attend events, join online forums, and don’t be shy about asking for informational interviews. Building relationships can open doors that applications alone can't.
✨Tip Number 2
Show off your analytical skills! Prepare to discuss how you’ve used data in past roles. Bring examples of how you’ve assessed risks or optimised portfolios. This will demonstrate your fit for the underwriting role and your ability to contribute to IQUW’s goals.
✨Tip Number 3
Be ready to chat about catastrophe exposure! Familiarise yourself with current trends and challenges in the Ports & Terminals sector. Having insights on how to manage these risks will impress interviewers and show you’re serious about the role.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining IQUW and being part of our collaborative culture.
We think you need these skills to ace Underwriter - Ports & Terminals in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Underwriter role in Ports & Terminals. Highlight your underwriting experience and any exposure management skills you have. We want to see how your background aligns with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how you embody our core values of Empowerment, Collaboration, Drive, and Inclusivity. Let us know what makes you a great fit for IQUW.
Showcase Analytical Skills: Since this role requires a strong analytical approach, be sure to include examples of how you've used data in your previous roles. Whether it's pricing adequacy or catastrophe exposure assessment, we want to see your analytical prowess!
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team at IQUW!
How to prepare for a job interview at IQUW Property Insurance
✨Know Your Numbers
As an Underwriter, you'll need to be comfortable with data. Brush up on your Excel skills and be ready to discuss how you've used data in past roles. Prepare examples of how you've interpreted exposure data to make underwriting decisions.
✨Build Rapport with Brokers
Strong relationships with brokers are key in this role. Before the interview, think about how you can demonstrate your communication and negotiation skills. Maybe share a story where you successfully built a relationship that led to profitable growth.
✨Understand Catastrophe Exposure
Make sure you can talk about catastrophe exposure and how it impacts underwriting decisions. Familiarise yourself with recent events and trends in the industry. Be prepared to discuss how you would incorporate these considerations into your underwriting strategy.
✨Show Your Analytical Side
This role requires a highly analytical approach, so be ready to showcase your problem-solving skills. Think of specific examples where you've used analytics to drive decisions or improve processes. Highlight any tools or dashboards you've developed or used in the past.
