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For Companies At a Glance
- Tasks: Underwrite cargo risks and manage business performance while building strong client relationships.
- Company: Join Munich Re, a leader in global specialty insurance with a focus on innovation.
- Benefits: Enjoy 25 days of annual leave, competitive salary, and a commitment to diversity and inclusion.
- Other info: Opportunity for career growth in a diverse and inclusive workplace.
- Why this job: Make an impact in the insurance industry while working in a supportive and dynamic environment.
- Qualifications: Advanced knowledge of underwriting principles and strong relationship-building skills required.
The predicted salary is between 60000 - 80000 £ per year.
We are currently looking for a Senior Cargo Underwriter to be based in London on a full-time basis, reporting into the Cargo Underwriting Manager. You will support the Cargo Underwriting Manager in the effective management of the Cargo book within Global Specialty Insurance. You will ensure prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm's reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.
Responsibilities
- Assist in the creation and delivery of the business plan for the Cargo team and be a driving force of the underwriting.
- Underwrite new and renewal Cargo risks, 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.
- Ensure the effective management of cargo business, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits and audits.
- Service existing contracts and open market risks, and make amendments in line with the Syndicate's underwriting philosophy.
- Conduct and develop effective relationships with peers, clients, coverholders and brokers, with a view to retaining quality business and securing new business that falls within the Munich Re Specialty Group appetite for Cargo.
- Establish and run projects and initiatives such as new sub-classes and products to serve clients and diversify the portfolio from both a risk and income perspective.
- Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority at all times.
- Negotiate new wordings and structures, ensuring clients' needs are serviced and regulatory requirements met, whilst preserving a prudent risk appetite, in line with the syndicate and team's underwriting strategy.
Knowledge and Skills
- Advanced knowledge and understanding of Underwriting Principles, Legal Principles, FCA and Lloyd's rules and regulations including contract certainty issues, Cargo cover, and all company specific procedures that relate to own role and role of those employees that you are supervising.
- Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm.
- Develop and maintain market awareness and continually demonstrate thought leadership.
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.
Benefits: 25 days Annual Leave +
Senior Cargo Underwriter in London employer: myGwork - LGBTQ+ Business Community
Contact Detail:
myGwork - LGBTQ+ Business Community Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Cargo Underwriter in London
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. The more you engage with others, the better your chances of landing that Senior Cargo Underwriter role.
✨Tip Number 2
Prepare for interviews by researching the company and understanding their underwriting philosophy. Be ready to discuss how your experience aligns with their needs and how you can contribute to their business plan.
✨Tip Number 3
Showcase your expertise! Bring examples of your past successes in underwriting and managing cargo risks to the table. This will demonstrate your capability and help you stand out from the crowd.
✨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 about their job search.
We think you need these skills to ace Senior Cargo Underwriter in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Cargo Underwriter role. Highlight relevant experience and skills that align with the job description, especially your understanding of underwriting principles and regulatory requirements.
Craft a Compelling Cover Letter: Your cover letter should tell us why you're the perfect fit for this position. Share specific examples of your past successes in underwriting and how you can contribute to our Cargo team’s goals.
Showcase Your Market Awareness: Demonstrate your knowledge of the cargo insurance market in your application. Mention any trends or insights you've noticed and how they could impact our business strategy.
Apply Through Our Website: We encourage you to apply directly through our website. This ensures your application gets to the right people and allows us to process it more efficiently. Plus, it shows you're keen on joining our team!
How to prepare for a job interview at myGwork - LGBTQ+ Business Community
✨Know Your Underwriting Principles
Make sure you brush up on your knowledge of underwriting principles and legal regulations, especially those specific to cargo insurance. Being able to discuss these confidently will show that you’re not just familiar with the basics but also understand the nuances that come with the role.
✨Demonstrate Market Awareness
Stay updated on current trends in the cargo insurance market. Bring examples of recent developments or challenges you've noticed and be ready to discuss how they might impact the business. This shows that you’re proactive and engaged with the industry.
✨Build Relationships
Since the role involves working closely with clients, brokers, and colleagues, think of ways to demonstrate your relationship-building skills. Share examples from your past experiences where you successfully managed client relationships or collaborated with teams to achieve a common goal.
✨Prepare for Scenario Questions
Expect scenario-based questions that test your judgement in underwriting matters. Prepare by thinking through potential risks and how you would assess them. This will help you articulate your thought process clearly during the interview.