At a Glance
- Tasks: Underwrite portfolios, manage performance, and build relationships with brokers and coverholders.
- Company: Join Munich Re, a leading inclusive employer committed to diversity and innovation.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Other info: Embrace a culture of curiosity and collaboration with excellent career development opportunities.
- Why this job: Make an impact in the insurance industry while working in a supportive and dynamic environment.
- Qualifications: University degree or relevant qualification; experience in underwriting preferred.
The predicted salary is between 60000 - 80000 £ per year.
This job is with Munich Re, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community.
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.
The Portfolio Solutions team provides capacity to consortia / Broker Facilities / MGAs / Cover holders on a delegated authority basis across a wide range of product lines creating a well-diversified and profitable portfolio. This role is responsible for assisting the CUO, Portfolio Solutions in underwriting, performance management and portfolio management of the account. The role will also assist the CUO Portfolio Solutions in developing and delivering the strategy to achieve profitable growth of the account. In addition, the role will make and build relationships with external partners e.g. brokers and cover holders and attract business to the company.
Responsibilities:
- Underwrite new and renewal portfolios, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan; referring to CUO Portfolio Solutions when appropriate.
- Ensure the effective management of the portfolio, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits; referring to CUO Portfolio Solutions when appropriate.
- Conduct and develop effective relationships with Coverholders and Brokers, to both strengthen existing trading relationships and secure new business that falls within the Underwriting business plan.
- Discuss new opportunities, deal pipeline and ideas with the wider underwriting and distribution team to ensure knowledge sharing and alignment.
- Monitor and analyse the performance of the in-force business, through relevant metrics, noting any deviations from business plan and taking corrective action where necessary.
- Embed a data driven approach to underwriting that incorporates commerciality in order to achieve profitable growth.
- Work collaboratively with colleagues in other classes of business to deliver profitable portfolio business and avoid potential misalignment.
- Work collaboratively with internal stakeholders (Delegated Underwriting, Pricing and Reserving, Claims, Capital and Exposure Management) as required.
- Assist in strategy setting, business reporting and business planning activities.
- Attend and contribute to regular and ad-hoc Portfolio Solutions team meetings, meetings with colleagues within MRSG, and meetings with Cover holders, brokers, suppliers and other entities.
- Actively engage with the market to understand opportunity and market trends.
Knowledge and Skills
- University Degree and/or relevant professional qualification.
- Strong work ethic, with drive and accountability.
- Extensive experience in Underwriting/Pricing/Distribution/Exposure Management functions of insurance companies (commercial/specialty focused is preferred).
- Previous experience of underwriting delegated authority business.
- Strong analytical, numerical and quantitative skills.
- Excellent presentation, prioritization, and time management skills.
- Excellent stakeholder management and influencing skills.
- Ability to understand complex structures and then clearly articulate these to stakeholders.
- Ability to analyse large and complex datasets and make data driven/informed decisions.
- Highly computer literate, able to use spreadsheets, databases and learn the use of new systems.
- Capable of developing and maintaining effective cross-functional relationships at all levels.
- Ability to multi-task and manage conflicting priorities in order to meet tight deadlines.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don't meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
Diversity, Equity 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!
#BePresent #BeBold #BeCurious
Portfolio Solutions Underwriter employer: Munich Re
Munich Re is an exceptional employer that fosters a culture of inclusivity and support, making it an ideal place for professionals in the insurance sector. With a strong emphasis on employee growth, collaboration, and innovation, team members are encouraged to be present, bold, and curious, ensuring they can achieve their individual goals while contributing to the company's success. Located in a vibrant environment, employees benefit from diverse opportunities, including engagement with local initiatives and volunteering, all while working towards sustainable business practices.
StudySmarter Expert Advice🤫
We think this is how you could land Portfolio Solutions Underwriter
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those connected to Munich Re. Use LinkedIn to connect and engage with them. A friendly message can go a long way in getting your foot in the door.
✨Tip Number 2
Prepare for interviews by researching Munich Re's culture and values. Understand their approach to diversity and inclusion, and think about how you can contribute to that environment. Show them you're not just a fit for the role, but for the company too!
✨Tip Number 3
Practice your pitch! Be ready to explain how your skills align with the Portfolio Solutions Underwriter role. Highlight your experience in underwriting and your analytical skills. Confidence is key, so rehearse until it feels natural.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re genuinely interested in joining the team at Munich Re. Let’s get you that job!
We think you need these skills to ace Portfolio Solutions Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Portfolio Solutions Underwriter role. Highlight relevant experience in underwriting, pricing, and stakeholder management. We want to see how your skills align with our goals!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're excited about this role at Munich Re and how you can contribute to our team. Be bold and let your personality come through!
Showcase Your Analytical Skills:Since this role involves analysing large datasets, make sure to mention any relevant experience you have with data-driven decision-making. We love candidates who can demonstrate their analytical prowess!
Apply Through Our Website:Don't forget to apply 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 inclusive team!
How to prepare for a job interview at Munich Re
✨Know Your Underwriting Inside Out
Make sure you brush up on your underwriting knowledge, especially around delegated authority business. Be prepared to discuss your experience with underwriting portfolios and how you've managed performance in the past.
✨Showcase Your Analytical Skills
Since this role involves analysing large datasets, be ready to share examples of how you've used data to make informed decisions. Highlight any tools or software you're familiar with that can help in this area.
✨Build Relationships Like a Pro
This job is all about collaboration, so think of ways to demonstrate your relationship-building skills. Share experiences where you've successfully worked with brokers or coverholders to secure new business.
✨Embrace the Company Culture
Munich Re values a culture of being present, bold, and curious. Prepare to discuss how you embody these traits in your work. Think of specific instances where you've taken initiative or approached challenges with curiosity.
