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For Companies At a Glance
- Tasks: Underwrite and service risk insurance products while managing relationships with agents and brokers.
- Company: Join a collaborative company that inspires progress and enables possibilities.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Why this job: Make a real impact by helping clients achieve their goals through innovative insurance solutions.
- Qualifications: Experience in underwriting and strong relationship management skills required.
- Other info: Dynamic role with opportunities for growth in the commercial insurance market.
The predicted salary is between 36000 - 60000 £ per year.
With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibilityâ„ .
Role purpose
We are seeking an individual who receives general business direction, markets, underwrites, and services risk insurance products with some complexity within assigned geographic and product areas. The individual utilizes underwriting authority and market skills to retain existing business. Manages interfaces and relationships with independent agents and brokers to enhance and maintain business opportunities. Responsible for the business results of assigned book of business.
Key Responsibilities
- Determines the desirability of accepting or rejecting business risks. Prices exposures in accordance with filed and approved rate levels, discretionary pricing mechanisms, and business unit guidelines.
- Identifies the need, recommends and evaluates additional risk assessment information including inspection, financial reports and statements.
- Coordinates individual risk underwriting actions with other departments to assure the highest level of customer satisfaction while meeting production and business goals.
- Performs product development and marketing activities including identifying producer relationships within assigned market to optimize best solutions for distribution, identifies and suggests new and modified products, identifies producers for business/marketing programs, and analyses producers and market opportunities.
- Maintains ongoing liaison with producers to obtain supplemental underwriting information, evaluate risks, decline risks, analyse and interpret coverage, explain underwriting requirements and expectations, and present terms.
- Regularly interfaces with customers to provide service and to keep abreast of customer issues.
- Sets ceded reinsurance actions in accordance with Arch Insurance and business unit guidelines.
Role Requirements
- Planning and product development
- Client relationship management
- Technical and analytical skills
- Regulatory & compliance awareness
- Problem solving, negotiation & decision making
University degree and professional certification desired with 5-8 years working knowledge and understanding of ISO rating and rules. Minimum 3 years relevant experience in an underwriting position in the Commercial Insurance Market. Demonstrated competence in maintaining broker/client relationships.
Underwriter, Existing Business in Colchester employer: Mcneil & Co.
Contact Detail:
Mcneil & Co. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter, Existing Business in Colchester
✨Tip Number 1
Networking is key! Reach out to professionals in the insurance industry, especially those who work as underwriters. Attend industry events or join online forums to connect with potential employers and learn about job openings.
✨Tip Number 2
Prepare for interviews by researching the company and understanding their culture. Since they value collaboration and innovation, think of examples from your past experiences that showcase these qualities and how you can contribute to their goals.
✨Tip Number 3
Practice your negotiation skills! As an underwriter, you'll need to make decisions on risk acceptance and pricing. Be ready to discuss your thought process and how you handle complex situations during interviews.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive and engaged with our brand.
We think you need these skills to ace Underwriter, Existing Business in Colchester
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that match the Underwriter role. Highlight your underwriting experience, especially in the Commercial Insurance Market, and any relevant certifications you have.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting and how your background aligns with our company culture of collaboration and innovation. Be genuine and let your personality come through.
Showcase Your Analytical Skills: Since this role requires strong technical and analytical skills, be sure to include examples of how you've successfully assessed risks and made informed decisions in your previous roles. Numbers and results speak volumes!
Apply Through Our Website: We encourage you to apply directly 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!
How to prepare for a job interview at Mcneil & Co.
✨Know Your Underwriting Stuff
Make sure you brush up on your knowledge of ISO rating and rules, as well as the specific risk insurance products you'll be dealing with. Being able to discuss these topics confidently will show that you're not just familiar with the basics but also ready to tackle the complexities of the role.
✨Showcase Your Relationship Skills
Since this role involves managing relationships with independent agents and brokers, prepare examples of how you've successfully built and maintained professional relationships in the past. Highlight your communication skills and any strategies you've used to enhance client satisfaction.
✨Demonstrate Problem-Solving Prowess
Be ready to discuss specific instances where you've had to make tough decisions regarding risk acceptance or rejection. Use the STAR method (Situation, Task, Action, Result) to structure your answers and illustrate your analytical and decision-making skills.
✨Prepare for Product Development Discussions
Familiarise yourself with the company's current product offerings and think about potential improvements or new ideas you could bring to the table. Showing that you can contribute to product development will demonstrate your proactive approach and understanding of market needs.
