At a Glance
- Tasks: Join a dynamic team to underwrite and analyse M&A risks using innovative tech solutions.
- Company: Part of Markel Group, a Fortune 500 company with a global presence.
- Benefits: Competitive salary, annual bonus, strong pension scheme, and private medical cover.
- Other info: Flexible working options and opportunities for career development in a diverse environment.
- Why this job: Be at the forefront of W&I insurance and make a real impact in a growing field.
- Qualifications: Experience in underwriting or M&A processes; analytical skills are a plus.
The predicted salary is between 63000 - 77000 £ per year.
The W&I team is currently looking for a M&A consultancy/advisory specialist with exposure to M&A transaction processes, due diligence, sale and purchase agreements, and related deal documentation (with direct experience of W&I insurance a plus) or experienced W&I underwriter to complement its existing expertise in market experience, law, tax, and financial due diligence. You will be joining a highly motivated team at an exciting time as we look to establish ourselves as the market leader in W&I SME risks and embrace new ideas in terms of portfolio construction, policy development, and IT/AI solutions.
Business Unit overview: Professional & Financial Risks (PFR) focus on international and UK-domiciled business. The team is made up of five business divisions: Professional Indemnity, Management Liability, Warranty & Indemnity, Financial Institutions, and Cyber Liability. We provide excellent service via our knowledgeable underwriters who are available both at Lloyd's and in our offices. We have a flexible and innovative approach to underwriting that ensures that we can provide the product required by our customers.
The team focuses on underwriting SME risks (deal sizes of c. GBP/USD/EUR 3m to 300m) in the UK and Europe, using the data and insights from its coverholder portfolio and the resources of a global, multi-line specialist insurer. Part of 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.
Key Responsibilities:
- Review and underwrite new risks using a technical rating model and coverage guidelines that we have developed.
- Harvest insights from the sizeable data pool we have access to through the 10+ years of supporting coverholders to derive claims trends and inform underwriting approach.
- Build and develop positive relationships with new and existing brokers, other distribution partners, and private equity/acquisitive corporate clients, and establish yourself as a market leader in your skill-set.
- Support the analysis of overall portfolio data and act upon those findings - i.e., develop skills in negotiating policy terms and conditions.
- Help to build and maintain strong working relationships within Markel.
Technical Underwriting:
- Experience within your specialist skill-set relevant for W&I underwriting or direct experience underwriting W&I risks.
- Strong understanding of the risks inherent in underwriting W&I from the perspective of your specialist skill-set.
- Use analytical skills to improve Markel’s underwriting capabilities (e.g. loss performance and underwriting efficiency).
Business Development:
- Help to develop, own, and enhance the W&I portfolio, assessing risk-reward for targeting certain countries (within the UK and Europe) and sectors conducting M&A.
- Help to maintain and update a broker/customer engagement plan for a portfolio of brokers and use this to drive quote requests and conversion.
- Be computer literate and have the ability to develop a full understanding and capability of in-house and MS systems.
A great starting salary plus annual bonus & strong benefits package including:
- 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! 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.
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.
Graduate Insurance Underwriter in London employer: Markel
Markel is an exceptional employer that prioritises employee well-being and professional growth, offering a competitive starting salary of £28,000 along with monthly bonuses and comprehensive benefits. Located in the vibrant city centre of Manchester, our supportive team environment fosters collaboration and success, making it an ideal place for those seeking a rewarding career in insurance sales without the hassle of late shifts.
StudySmarter Expert Advice🤫
We think this is how you could land Graduate Insurance Underwriter 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 Markel). 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 Markel. 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 Graduate Insurance Underwriter 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 Markel.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Markel. 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 Markel
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Markel 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 Markel, 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 Markel'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.
