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- Tasks: Support senior underwriters in evaluating marine risks and managing portfolios.
- Company: Join a niche MGA with a profitable marine cargo business.
- Benefits: Gain valuable experience in underwriting with potential for career growth.
- Why this job: Be part of a dynamic team making impactful decisions in the marine insurance sector.
- Qualifications: 3-5 years in marine cargo insurance; degree in finance, maths, or business preferred.
- Other info: Fluency in English and strong analytical skills are essential.
The predicted salary is between 36000 - 60000 £ per year.
This position would ideally suit a Broker who is looking to transition into an Underwriter role or an Underwriter looking to further their career and knowledge. As a Marine Cargo Underwriter, you will be at the heart of our underwriting operations, supporting senior underwriters in making strategic, data-driven decisions. From risk evaluation to policy administration, you’ll play a pivotal role in shaping profitable underwriting outcomes while ensuring seamless execution. This is an excellent opportunity to join an MGA which has a small cargo unit holding a niche portfolio of profitable marine cargo business.
Responsibilities:
- Underwriting Support: Assist in evaluating new and renewal marine risks in line with company guidelines, ensuring a balanced portfolio.
- Data-Driven Decision-Making: Analyze client submissions, review claims history, assess loss ratios, and contribute to pricing discussions.
- Risk Assessment & Compliance: Ensure all underwriting decisions align with treaty conditions, underwriting authorities, and regulatory requirements.
- Portfolio Management: Assist in analyzing the performance of our cargo book, identifying trends, and recommending corrective actions if needed.
- Technical Execution: Accurately enter marine risks into Nexus accounting systems, ensuring precise data for reporting and analysis.
- Reporting & Analytics: Prepare underwriting reports on cover-holder agreements, helping underwriters assess portfolio performance.
- Broker & Client Engagement: Coordinate with brokers and clients to obtain additional underwriting information, clarify policy terms, and ensure smooth placements.
- Operational Efficiency: Assist in policy construction, issuance, endorsements, declarations, and premium calculations with a focus on accuracy and timeliness.
- Contribute to the creation of new business opportunities and strategic partnerships.
- Market Awareness: Conduct research on market trends, pricing strategies, and competitor activities to support business development initiatives.
Requirements:
- Experience: 3-5 years in marine cargo Insurance.
- Education: A university degree with a finance, mathematics, or business focus is preferred. A CII qualification or equivalent is a plus.
- Technical Skills: Strong numerical proficiency with experience in MS Excel for underwriting analysis and reporting.
- Soft Skills: Sharp analytical mindset – you can spot underwriting patterns and assess risks effectively. Strong communication and negotiation skills – you’re comfortable interacting with brokers and clients. Meticulous attention to detail – ensuring underwriting precision in every transaction.
- Language: Fluency in English is required.
Marine Cargo Underwriter employer: Nexus Underwriting
Contact Detail:
Nexus Underwriting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Marine Cargo Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in marine cargo insurance. Understanding current market dynamics and competitor activities will not only enhance your knowledge but also demonstrate your commitment to the role during interviews.
✨Tip Number 2
Network with professionals in the marine insurance sector. Attend industry events or join relevant online forums to connect with underwriters and brokers. This can provide valuable insights and potentially lead to referrals for the position.
✨Tip Number 3
Brush up on your analytical skills, especially in using MS Excel. Being proficient in data analysis and reporting is crucial for this role, so consider taking a short course or practising with real-world datasets to boost your confidence.
✨Tip Number 4
Prepare to discuss your experience with risk assessment and compliance. Be ready to share specific examples of how you've evaluated risks in previous roles, as this will showcase your suitability for the underwriting responsibilities.
We think you need these skills to ace Marine Cargo Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in marine cargo insurance. Emphasise any roles where you've evaluated risks, managed portfolios, or engaged with clients and brokers.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the Marine Cargo Underwriter position. Discuss how your background as a broker or underwriter aligns with the responsibilities outlined in the job description.
Showcase Technical Skills: Highlight your proficiency in MS Excel and any other relevant technical skills. Provide examples of how you've used data analysis in previous roles to support underwriting decisions.
Demonstrate Soft Skills: Use specific examples to illustrate your analytical mindset, communication abilities, and attention to detail. These soft skills are crucial for success in the underwriting role.
How to prepare for a job interview at Nexus Underwriting
✨Showcase Your Analytical Skills
As a Marine Cargo Underwriter, your ability to analyse data is crucial. Be prepared to discuss specific examples where you've successfully evaluated risks or made data-driven decisions in your previous roles.
✨Demonstrate Industry Knowledge
Familiarise yourself with current market trends and competitor activities in marine cargo insurance. Showing that you understand the industry landscape will impress interviewers and demonstrate your commitment to the role.
✨Prepare for Technical Questions
Expect questions related to underwriting processes, risk assessment, and compliance. Brush up on your technical knowledge, especially regarding MS Excel, as you'll likely need to showcase your proficiency in data analysis.
✨Highlight Communication Skills
Since the role involves engaging with brokers and clients, be ready to discuss how you've effectively communicated complex information in the past. Share examples of successful negotiations or collaborations to illustrate your strong interpersonal skills.
