At a Glance
- Tasks: Manage a portfolio of accounts and assess risks for Property and Casualty insurance.
- Company: Join a diverse and inclusive team at Ryan Specialty in London.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Opportunity for career growth in a dynamic and evolving sector.
- Why this job: Make impactful decisions while building relationships in the insurance industry.
- Qualifications: Bachelor’s or Master’s degree in relevant fields and 5+ years of underwriting experience.
The predicted salary is between 55000 - 70000 £ per year.
The Property and Casualty Underwriter is responsible for managing a portfolio of accounts and driving new and renewal business opportunities for Property and Casualty insurance. The role assesses risks associated with insuring properties and liabilities, evaluates applications, analyzes data, and determines coverage terms and premiums to ensure sound underwriting decisions. They develop and maintain underwriting practices and guidelines as per delegated authority and build relationships with brokers and other stakeholders in the designated portfolio.
What will your job entail?
- Underwrites new and renewal property and casualty business, analyzes policy forms, broker endorsement requests, and submitted documentation as per company underwriting standards and guidelines and obtains additional information as needed.
- Determines whether to accept, modify or decline a risk through evaluation of the coverage value, location, usage, safety features, and other factors pertinent to the decision.
- Determines appropriate coverage limits and insurance premiums, policy terms and conditions based on risk assessment and underwriting guidelines and ensures active portfolio management of property and casualty accounts.
- Delivers services for new property and casualty business and renewals while demonstrating professionalism, technical knowledge, and adherence to underwriting guidelines.
- Examines, identifies, and evaluates exposures and ensures compliance with state and country laws and guidelines established by carriers and the organization.
- Provides premium forecasts and business plans to support budget and performance targets.
- Maintains existing broker relationships and collaborates across teams to manage production activities such as submissions, quotes, declines, binds, issuance to provide accurate, timely, and quality service to clients.
- Builds professional, long‑term relationships in the designated portfolio and as per delegated authority limits and partners with brokers to create customized insurance solutions as needed to service a client.
- Creates opportunities for new business, maximizes retention of assigned portfolio and ensures timely review of renewal business to achieve business targets.
- Executes marketing activities, attends seminars and training, and stays abreast on market dynamics and property and casualty underwriting trends.
- Stays informed about industry trends, emerging risks in the property and casualty sector, terminology, regulations and adjusts underwriting strategies accordingly.
Work Experience and Education:
- Bachelor’s degree or Master’s degree in Risk Management, Actuarial and Business Administration required. Any other related discipline or commensurate work experience considered.
- 5+ years of experience in Property and Casualty Underwriting.
Licenses & Certifications:
- Must meet minimum requirements for state P&C and/or surplus line licenses.
- Chartered Property Casualty Underwriter (CPCU) is a plus.
Underwriter employer: Ryan Specialty
Ryan Specialty is an exceptional employer located in the heart of London, offering a dynamic work environment that fosters professional growth and collaboration. With a strong commitment to diversity and inclusion, employees are encouraged to develop their skills through ongoing training and industry engagement, while enjoying competitive benefits and a supportive culture that values individual contributions. Join us to be part of a team that not only drives business success but also prioritises meaningful relationships with clients and colleagues alike.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriter
✨Tip Number 1
Network like a pro! Get out there and connect with industry professionals, attend events, and join online forums. Building relationships can open doors to opportunities that aren’t even advertised.
✨Tip Number 2
Practice your pitch! You never know when you’ll meet someone who could help you land that underwriter role. Have a clear, concise summary of your experience and what you bring to the table ready to go.
✨Tip Number 3
Stay updated on industry trends! Knowing the latest in property and casualty underwriting will not only boost your confidence but also impress potential employers during interviews.
✨Tip Number 4
Apply through our website! We’ve got loads of resources to help you along the way, and applying directly can give you an edge. Don’t miss out on the chance to showcase your skills!
We think you need these skills to ace Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Underwriter role. Highlight your experience in Property and Casualty underwriting, and don’t forget to mention any relevant qualifications or certifications. We want to see how your skills match what we’re looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you’re passionate about underwriting and how your background makes you a great fit for our team. Keep it professional but let your personality come through – we love a bit of character!
Showcase Your Analytical Skills:As an Underwriter, you’ll need strong analytical skills. In your application, provide examples of how you’ve assessed risks and made sound decisions in previous roles. We want to see your thought process and how you approach challenges.
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 gives you a chance to explore more about us and what we do!
How to prepare for a job interview at Ryan Specialty
✨Know Your Underwriting Basics
Before the interview, brush up on your knowledge of property and casualty underwriting. Understand key concepts like risk assessment, coverage limits, and premium calculations. This will help you speak confidently about your experience and how it aligns with the company's needs.
✨Showcase Your Analytical Skills
Prepare to discuss specific examples where you've successfully analysed data or evaluated risks in previous roles. Highlight how your analytical skills have led to sound underwriting decisions, as this is crucial for the position.
✨Build Rapport with Brokers
Since relationship-building is key in this role, think of ways to demonstrate your ability to maintain and develop broker relationships. Share stories that illustrate your communication skills and how you've collaborated with stakeholders to create tailored insurance solutions.
✨Stay Updated on Industry Trends
Research current trends and emerging risks in the property and casualty sector. Being able to discuss these topics during your interview shows that you're proactive and knowledgeable, which can set you apart from other candidates.
