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- Tasks: Join us as an Underwriter, managing a diverse portfolio and driving profitable growth.
- Company: Munich Re Specialty aims to be the leading Primary Specialty Insurance provider with a supportive culture.
- Benefits: Enjoy critical illness insurance, life assurance, wellbeing schemes, and study support.
- Why this job: Be part of a dynamic team that values curiosity and boldness while making a social impact.
- Qualifications: High level of underwriting knowledge and understanding of technical underwriting required.
- Other info: We embrace diversity and offer reasonable adjustments throughout the recruitment process.
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, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto 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 to be based in one of our UK offices on a full-time basis, 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.
The 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 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.
Knowledge and Skills
- High level of underwriting knowledge.
- Understanding of technical underwriting, philosophy and Company trading strategy.
- Ability to interpret and effectively use management information.
- Knowledge of the local market.
- Internal relationships with Line of Business Managers, team members, Underwriters, the Claims Department and the Syndicate.
- External relationships with a range of contacts within the allocated intermediaries and customers.
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.
- 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
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Underwriter Level 1 (P&C) employer: Munich Re
Contact Detail:
Munich Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriter Level 1 (P&C)
✨Tip Number 1
Familiarise yourself with the specific P&C products that Munich Re offers. Understanding their unique features and how they fit into the market will help you engage more effectively during interviews and discussions.
✨Tip Number 2
Network with current or former employees of Munich Re, especially those in underwriting roles. They can provide valuable insights into the company culture and expectations, which can be beneficial for your application.
✨Tip Number 3
Stay updated on industry trends and challenges in the insurance sector, particularly in underwriting. Being able to discuss these topics knowledgeably will demonstrate your commitment and expertise during the hiring process.
✨Tip Number 4
Prepare to showcase your analytical skills and decision-making abilities. Think of examples from your past experiences where you successfully managed complex cases or made strategic decisions, as these will be crucial in the role.
We think you need these skills to ace Underwriter Level 1 (P&C)
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Underwriter Level 1 position. Tailor your application to highlight relevant experience in underwriting and portfolio management.
Highlight Relevant Experience: In your CV and cover letter, emphasise any previous underwriting experience, particularly with mono-line and multi-line P&C products. Use specific examples to demonstrate your ability to manage a profitable portfolio and work with intermediaries.
Showcase Technical Knowledge: Demonstrate your understanding of technical underwriting principles and the company's trading strategy. Mention any relevant qualifications or training that showcase your expertise in this area.
Express Your Commitment to DEI: Given Munich Re's focus on Diversity, Equity, and Inclusion, include a statement in your application about how you value diversity in the workplace and how you can contribute to an inclusive environment.
How to prepare for a job interview at Munich Re
✨Understand the Underwriting Process
Familiarise yourself with the underwriting process, especially in relation to P&C products. Be prepared to discuss how you would approach underwriting new and renewal business, and demonstrate your understanding of the company's guidelines and appetite.
✨Showcase Your Technical Expertise
Highlight your technical knowledge and experience in underwriting. Be ready to provide examples of complex cases you've handled and how you made decisions that aligned with company objectives. This will show your capability to deliver tailored solutions.
✨Build Relationships
Emphasise your ability to develop strong relationships with intermediaries and customers. Discuss strategies you've used in the past to balance their needs with company goals, showcasing your interpersonal skills and customer service focus.
✨Demonstrate Curiosity and Boldness
Reflect the company's culture by being present, bold, and curious during the interview. Ask insightful questions about the role and the company’s strategy, showing your enthusiasm for contributing to their success and your willingness to learn.
