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For Companies At a Glance
- Tasks: Evaluate insurance applications and manage risk for businesses.
- Company: Join a leading name in the commercial insurance sector.
- Benefits: Enjoy competitive pay, hybrid work, and professional development opportunities.
- Why this job: Be part of a dynamic team that values client relationships and industry insights.
- Qualifications: Experience in commercial underwriting and strong analytical skills required.
- Other info: This is a full-time, permanent role based in Southampton.
The predicted salary is between 36000 - 60000 £ per year.
We are seeking a Commercial Underwriter to assess and manage risk for a major name in the commercial insurance sector. This role involves evaluating applications, analysing financial data, and determining appropriate coverage and pricing to ensure profitability while maintaining strong client relationships.
Key Responsibilities
- Risk Assessment: Evaluate and process insurance applications for businesses, analysing financial data, assets, and liabilities.
- Underwriting Decisions: Assess risk exposure and determine appropriate coverage and premium pricing.
- Portfolio Management: Monitor policy performance and adjust underwriting strategies as needed.
- Client & Broker Engagement: Work closely with brokers and clients to provide expert advice and negotiate terms.
- Market Analysis: Stay informed on industry trends, competitor offerings, and regulatory changes.
- Claims & Compliance: Collaborate with claims teams to assess risk exposure and ensure adherence to regulatory standards.
Skills & Experience Required
- Proven experience in commercial insurance underwriting.
- Strong knowledge of risk assessment, pricing models, and policy structures.
- Excellent analytical and decision-making skills.
- Ability to build and maintain relationships with brokers and clients.
- Proficiency in underwriting software and Microsoft Office.
Benefits
- Competitive salary and performance-based bonuses.
- Hybrid working options.
- Professional development and training opportunities.
- Pension scheme and private healthcare.
Locations
Commercial Lines Underwriter employer: ProFound
Contact Detail:
ProFound Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Commercial Lines Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in commercial insurance and risk assessment. This knowledge will not only help you during interviews but also demonstrate your commitment to staying updated in the field.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who work as underwriters or brokers. Attend industry events or join relevant online forums to build connections that could lead to job opportunities.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully assessed risk and made underwriting decisions in your previous roles. Real-life scenarios can showcase your expertise and problem-solving skills effectively.
✨Tip Number 4
Research StudySmarter's values and culture to align your approach during interviews. Understanding our mission can help you articulate how you would contribute to our team and enhance client relationships.
We think you need these skills to ace Commercial Lines Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Commercial Underwriter. Familiarise yourself with risk assessment, underwriting decisions, and client engagement to tailor your application accordingly.
Highlight Relevant Experience: In your CV and cover letter, emphasise your proven experience in commercial insurance underwriting. Mention specific examples of how you've assessed risk, managed portfolios, or engaged with clients and brokers.
Showcase Analytical Skills: Since strong analytical skills are crucial for this role, provide examples of how you've used data analysis in previous positions. This could include evaluating financial data or making underwriting decisions based on market trends.
Tailor Your Application: Customise your cover letter to reflect your understanding of the company and its values. Mention why you're interested in working for them specifically and how your skills align with their needs in the commercial insurance sector.
How to prepare for a job interview at ProFound
✨Know Your Numbers
As a Commercial Underwriter, you'll need to demonstrate your analytical skills. Brush up on financial data analysis and be prepared to discuss how you evaluate risk based on numbers. Familiarise yourself with common pricing models and policy structures relevant to the role.
✨Showcase Your Relationship Skills
Building strong relationships with clients and brokers is key in this role. Be ready to share examples of how you've successfully engaged with clients in the past. Highlight your communication skills and any strategies you've used to negotiate terms effectively.
✨Stay Updated on Industry Trends
The insurance sector is constantly evolving. Research current trends, competitor offerings, and regulatory changes before your interview. This will not only show your enthusiasm for the role but also your commitment to staying informed in a fast-paced industry.
✨Prepare for Scenario Questions
Expect to face scenario-based questions that assess your decision-making and risk assessment abilities. Think of specific situations where you had to make tough underwriting decisions and be ready to explain your thought process and the outcomes.
