At a Glance
- Tasks: Support the underwriting of power generation and renewable energy accounts while learning about the sector.
- Company: Join Liberty Specialty Markets, a leading global insurer focused on innovative insurance solutions.
- Benefits: Enjoy a vibrant work environment, career development opportunities, and a healthy work-life balance.
- Other info: This role offers exposure to various technologies and collaboration across multiple teams.
- Why this job: Be part of the energy transition and work with diverse clients in a growing industry.
- Qualifications: A background in insurance or intent to pursue relevant qualifications is preferred.
The predicted salary is between 36000 - 60000 £ per year.
This is an assistant underwriting role supporting the Power & Renewables team in London. The assistant underwriter will focus on supporting the underwriting of a portfolio of power generation and renewable energy accounts including both operational and renewable energy construction risks (solar/wind/BESS). The assistant underwriter will gain exposure to a wide variety of clients and technologies and exhibit a willingness to learn about the sector and its impact on the Energy Transition. The role requires interacting with members of the wider Energy & Construction teams as well as other underwriting divisions such as marine cargo and casualty, as well as claims, actuarial and exposure management.
The Power & Renewables division is a growing area of the Energy department with renewable energy becoming a key focus area. LSM has a long-term objective to be a leading insurer in the transition from fossil fuel to renewables and clean energy sources supporting both existing energy and utility companies and new renewable energy enterprises.
Key Responsibilities:
- Understand and follow the annual business plan for the Power & Renewables division in order to make appropriate decisions.
- Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice.
- Maintain relationships with customers, brokers, business partners, reinsurers and colleagues to maximise influence and achieve business objectives.
- Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team.
- Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives.
- Negotiate rates, terms and conditions for existing and new business.
- Compliance with the production and issue of documentation in accordance with contract certainty requirements.
- Support the review and analysis of the portfolio, to identify progress towards business objectives.
- Process entries, as required, properly onto relevant systems in a timely manner ensuring accuracy of data with relation to both underwriting and aggregate exposures.
- Compliance with all applicable internal and external laws, regulations, policies, procedures, and guidance.
- Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk.
Skills and Experience:
- Understanding of relevant market conditions for specific class/portfolio.
- Demonstrates proactivity in learning about emerging sectors and technologies.
- Good knowledge of legal and regulatory requirements.
- Become proficient in the knowledge of underwriting systems, processes and procedures.
- Analytical, with an understanding of relevant software including Excel and other software packages.
- A high level of numeracy and literacy skills.
- Good interpersonal and communication skills.
- Confident in proactively building relationships with internal and external contacts.
- Good organizational and prioritization skills.
- Good attention to detail.
- Experience gained within the insurance industry.
- Intent or progress towards the relevant qualifications.
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Assistant Underwriter: Power & Renewables in London employer: Liberty Specialty Markets
Liberty Specialty Markets is an exceptional employer, offering a vibrant and inclusive work environment in London that prioritises career development and employee well-being. With a strong commitment to diversity, equity, and inclusion, employees are encouraged to collaborate and share unique perspectives, fostering innovation and personal growth. The Power & Renewables division not only supports the transition to clean energy but also provides opportunities for meaningful engagement with a variety of clients and technologies, making it an ideal place for those passionate about the energy sector.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Underwriter: Power & Renewables 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.
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✨Look Out for Graduate Schemes
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✨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 Liberty Specialty Markets. 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 Assistant Underwriter: Power & Renewables 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 Liberty Specialty Markets.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Liberty Specialty Markets. 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 Liberty Specialty Markets
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Liberty Specialty Markets 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 Liberty Specialty Markets, 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 Liberty Specialty Markets'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.
