At a Glance
- Tasks: Lead underwriting activities and manage a high-quality property portfolio.
- Company: Join Munich Re, a leader in specialty insurance with a supportive culture.
- Benefits: Enjoy 25 days leave, private medical insurance, and a non-contributory pension.
- Other info: Embrace diversity and innovation in a hybrid working model.
- Why this job: Make an impact in a dynamic environment while developing your career.
- Qualifications: Strong property underwriting knowledge and excellent communication skills required.
The predicted salary is between 36000 - 60000 £ per year.
About us At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
We are currently looking for an Underwriter (level1) to work with us on a full-time basis in either our Manchester OR Birmingham office, reporting into the P&C Underwriting Manager. This is a pivotal role focused on driving profitable growth and managing a high-quality portfolio across mono-line and multiline P&C products, with a key focus on Property.
This role requires the individual to:
- Lead underwriting activities for designated intermediaries and customers.
- Achieve and maintain a profitable, well balanced and growing portfolio with allocated intermediaries and customers to assist in meeting long term trading objectives of the Company.
- Represent and promote Munich Re to external intermediaries and to internal stakeholders.
- Provide technical underwriting expertise and guidance to less experienced underwriting staff.
Responsibilities
- To underwrite new and renewal business in line with underwriting guidelines and appetite.
- Work with the intermediary/customer, undertake end-to-end handling of cases for the allocated portfolio to deliver the agreed joint business development plans in line with the Company’s overall trading strategy.
- Make effective on site decisions, within delegated authority, for allocated intermediaries so that work is completed efficiently.
- Deal with complex multinational accounts, ensuring tailored solutions and risk appropriate decisions.
- Plan and process own work in a way that will assist the team to meet its customer service targets including credit control targets.
- Undertake other duties as directed within the level of the job function.
Strategic contributions
- Support the creation and implementation of underwriting strategy, forecasts and portfolio management required to achieve profitability and technical excellence.
- Identify, define and develop business opportunities, seeking the input of other members of staff where appropriate, to ensure that business proposals are dealt with swiftly and effectively.
- Assist in maintaining a balanced and high quality portfolio, optimising the use of information gathered.
Technical expertise
- Deliver technical presentations where required.
- Act as a reference point for the allocated intermediary/customer or less experienced staff, so that a high level of customer service is delivered.
Intermediary and Customer management
- Work with the Underwriting team to develop strong relationships with allocated intermediaries, balancing intermediary needs with the Company’s trading objective in a way that will deliver profitable and balanced trading growth.
- Represent and promote Munich Re externally with intermediaries and customers.
Conduct
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
- Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.
Knowledge and Skills
- High level of Property underwriting knowledge.
- Understanding of technical underwriting, philosophy and Company trading strategy.
- Ability to interpret and effectively use management information.
- Excellent communication skills.
- Knowledge of the local insurance market practices.
- Build internal relationships with Line of Business Managers, team members, Underwriters, the Claims Department and the Syndicate.
- Develop external relationships with a range of contacts within the allocated intermediaries, customers and local market.
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school and career experiences; and political, religious and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued and has equitable opportunities to succeed. All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues. Learn more about sustainability at Munich Re – choose your impact!
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
Senior Property Underwriter in Birmingham employer: Munich Re
As a leading insurance provider in Greater London, we pride ourselves on fostering a dynamic work culture that values collaboration and innovation. Our employees benefit from comprehensive professional development opportunities, competitive remuneration, and a supportive environment that encourages growth and transformation. Join us to be part of a team that is dedicated to making a meaningful impact in the insurance industry while enjoying the vibrant lifestyle that Greater London has to offer.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Property Underwriter in Birmingham
✨Tip Number 1
Network like a pro! Get out there and connect with industry professionals on LinkedIn or at local events. The more people you know, the better your chances of landing that Senior Property Underwriter role.
✨Tip Number 2
Prepare for interviews by researching Munich Re's values and recent projects. Show us that you're not just another candidate; demonstrate your curiosity and how you can contribute to our ambitious goals.
✨Tip Number 3
Practice your pitch! Be ready to explain your experience in property underwriting clearly and confidently. We want to hear how you've tackled challenges and achieved results in your previous roles.
✨Tip Number 4
Don’t forget to follow up after interviews! A quick thank-you email can go a long way in showing your enthusiasm for the position and keeping you top of mind as we make our decision.
We think you need these skills to ace Senior Property Underwriter in Birmingham
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Property Underwriter role. Highlight your relevant experience in underwriting and any specific achievements that align with the job description. We want to see how you can contribute to our ambitious goals!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to express your passion for the insurance industry and why you’re excited about joining Munich Re. Be bold and curious in your writing, just like we are!
Showcase Your Technical Skills:Since this role requires a high level of property underwriting knowledge, make sure to showcase your technical expertise. Mention any relevant certifications or experiences that demonstrate your ability to handle complex accounts.
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and get to know you better. Don’t miss out on this opportunity to join our team!
How to prepare for a job interview at Munich Re
✨Know Your Underwriting Inside Out
Make sure you brush up on your property underwriting knowledge before the interview. Understand the technical aspects and be ready to discuss how you would handle complex multinational accounts. This will show that you're not just familiar with the basics, but that you can also think critically about the role.
✨Showcase Your Communication Skills
Since this role involves building relationships with intermediaries and customers, practice articulating your thoughts clearly. Prepare examples of how you've successfully communicated complex information in the past, as this will demonstrate your ability to deliver high levels of customer service.
✨Demonstrate Your Strategic Thinking
Be prepared to discuss how you would contribute to the underwriting strategy and portfolio management. Think of specific instances where you've identified business opportunities or improved processes, and be ready to share these insights during the interview.
✨Embrace the Company Culture
Familiarise yourself with Munich Re's values around diversity, equity, and inclusion. Be ready to discuss how you can contribute to a supportive environment and how your personal experiences align with their mission. This will show that you’re not only a fit for the role but also for the company culture.
