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- Tasks: Join our Financial Institutions team as an Underwriter, implementing strategies and building broker relationships.
- Company: Markel is a Fortune 500 company with a global presence in insurance and investment operations.
- Benefits: Enjoy a competitive salary, annual bonus, private medical cover, and 25 days holiday plus bank holidays.
- Why this job: Make a meaningful impact while developing your skills in a collaborative and innovative environment.
- Qualifications: Strong analytical skills, IT proficiency, and excellent communication are essential for this role.
- Other info: Flexible working patterns are available, and we celebrate diversity in our workforce.
The predicted salary is between 36000 - 60000 £ per year.
We are looking for an Underwriter to join our Financial Institutions team based in London. If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realise our potential, we can help others reach theirs.
The opportunity: As an Underwriter in our Financial Institutions team based in London, you will work closely with the Head of FI and a dynamic team to implement underwriting strategies, improve processes, and build strong broker relationships. This role offers the opportunity to contribute to our innovative approach and support our global presence, whilst learning and development in a growing team.
About the team: The Wholesale division is comprised of six underwriting teams (Cyber, Energy, Equine & Livestock, Marine, Professional & Financial Risks, and Trade Credit, Political Risk & Surety), as well as an award-winning claims team, underwriting support, delegated underwriting, and strategic business development. We have staff around the world with a significant presence in Asia and the US, in addition to the London market. Our teams operate as ‘One Wholesale’, working together towards our goal to be one of the world’s great speciality insurers. We work collaboratively both within Wholesale and across the wider Markel organisation, and because we work as one we are able to create the best solutions possible for our clients, and provide exceptional development opportunities for our staff.
Professional & Financial Risks (PFR) focus on international and UK-domiciled business and can deploy capacity of £10m/€15m/$20m on any one risk. The team is made up of four business lines: Professional Indemnity, Management Liability, Warranty & Indemnity, and Financial Institutions. We provide excellent service via our experienced underwriters who are available both at Lloyd's and in the office. We have a flexible and innovative approach to underwriting that ensures that we can provide the product required for our customers. This role is based in the Financial Institutions team.
What you’ll be doing:
- Work with class head, wider team, actuarial, and other parts of the business to implement the underwriting strategy and monitor progress and developments.
- Champion continuous improvements and work with the team to improve end-to-end processes and data.
- Confidently and positively demonstrate the field of our chosen underwriting approach.
- Positively contribute towards the team’s underwriting strategy.
- Attend regular broker and client meetings and travel to represent Markel as required by the class head.
- Develop strong relationships with existing and new brokers.
- Apply appropriate underwriting practices including authority and guidelines control.
- Apply appropriate risk management practices including aggregations and guideline controls and any measures required to limit Markel’s exposure.
Our must-haves:
- Have a detailed understanding of the business line and insurance market.
- Underwriting Insights and Risk Acceptance.
- Demonstrate strong numerical and analytical ability.
- Excellent IT skills including Microsoft Word and Excel.
- Have excellent communication skills.
Who we are: Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.
What’s in it for you? A great starting salary plus annual bonus & strong benefits package. Up to 16% company pension scheme. Private medical and dental cover, Menopause plan, emergency care benefit (children/Pets/dependants). Income protection, Life assurance, electric car scheme, travel insurance. 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave. As well as other great benefits on offer there are countless opportunities to learn new skills and develop in your career!
Are you ready to play your part? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward, reach their full potential and seize opportunities. You’ll find your fit amongst our diverse global community of optimists and problem-solvers. We’re always pushing each other to think further because we believe that when we strive for better and realise our potential, we can help others reach theirs. Join us and play your part in something special!
Choose ‘Apply Now’ to fill out our short application, so that we can find out more about you. At Markel we are all about the people, celebrating the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also happy to consider candidates who are looking for flexible working patterns. We will ensure that individuals are provided with any reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful.
Underwriter employer: Markel Corporation
Contact Detail:
Markel Corporation Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter
✨Tip Number 1
Familiarise yourself with the specific underwriting strategies used in the Financial Institutions sector. Understanding the nuances of this field will not only help you during interviews but also demonstrate your genuine interest in the role.
✨Tip Number 2
Network with professionals already working in underwriting or related fields. Attend industry events or join online forums to connect with others, as personal recommendations can often give you an edge in the application process.
✨Tip Number 3
Stay updated on current trends and challenges in the insurance market, particularly those affecting financial institutions. This knowledge will allow you to engage in meaningful discussions during interviews and showcase your analytical skills.
✨Tip Number 4
Prepare to discuss your numerical and analytical abilities in detail. Be ready to provide examples of how you've applied these skills in previous roles, as they are crucial for success in underwriting.
We think you need these skills to ace Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Underwriter position. Understand the key responsibilities and required skills, such as underwriting strategies, risk management practices, and strong analytical abilities.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the Underwriter role. Emphasise your understanding of the insurance market, numerical skills, and any previous underwriting experience you may have.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention specific aspects of Markel that resonate with you, such as their innovative approach and commitment to continuous improvement in underwriting.
Highlight Your Communication Skills: Since the role involves developing relationships with brokers and clients, ensure you demonstrate your excellent communication skills in both your CV and cover letter. Provide examples of how you've successfully communicated complex information in previous roles.
How to prepare for a job interview at Markel Corporation
✨Understand the Underwriting Process
Make sure you have a solid grasp of the underwriting process and the specific practices relevant to the Financial Institutions team. Be prepared to discuss your insights on risk acceptance and how you would apply them in real scenarios.
✨Showcase Your Analytical Skills
As an Underwriter, strong numerical and analytical abilities are crucial. Bring examples of how you've used these skills in past roles, particularly in assessing risks or improving processes.
✨Build Rapport with Brokers
Since developing strong relationships with brokers is key, think of ways to demonstrate your interpersonal skills. Share experiences where you've successfully built relationships in a professional setting.
✨Demonstrate Your IT Proficiency
Highlight your proficiency in Microsoft Word and Excel during the interview. Be ready to discuss how you've used these tools to enhance your work efficiency or improve data management in previous roles.
