At a Glance
- Tasks: Support Underwriters in managing EMEA MGA portfolio and data analysis.
- Company: Join SCOR, a leading global reinsurer with a collaborative culture.
- Benefits: Competitive salary, diverse work environment, and opportunities for professional growth.
- Other info: Inclusive workplace that values diversity and supports career development.
- Why this job: Make an impact in the insurance industry while working with top professionals.
- Qualifications: A Level education, strong Excel skills, and experience in the MGA market preferred.
The predicted salary is between 30000 - 40000 £ per year.
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting‑edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide. Working at SCOR means engaging with some of the best minds in the industry - actuaries, data scientists, underwriters, risk modelers, engineers, and many others - as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by "The SCOR Way." Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration. SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.
Job Description
Supporting the Underwriters within the team to ensure that the EMEA MGA portfolio operates smoothly from both an operational and data‑monitoring perspective, and that the Head of EMEA MGAs has accurate and timely information to support decision‑making, are central to the position. A collaborative, team‑oriented approach is also essential. This role requires a strong attention to detail, effective communication and organisational skills, and, critically, robust data‑analysis capability.
Job Responsibilities
- New Business Support: Assist Underwriters with the researching new business opportunities and collating relevant information. Assisting in the collation and sending of binding authority documentation to Delegated Underwriting Authority team for due diligence and offering assistance to the Operations team where required. Assist in the gathering and sending of risk and location information to the Exposure Management team for modelling. Responsibility for completing timely and accurate review of bordereaux submissions, monitoring processing and compliance with contractual requirements. Liaising with the Operations team to ensure timely and accurate data flow.
- Booking & Payment Oversight: Liaising with Underwriters to ensure accurate and timely capture of estimated income, declarations and bordereaux on binders. Provide support with premium and claims booking processes, ensuring accuracy and timely payment execution. Assist Underwriters in the execution of audit activities in collaboration with the Operations team, including preparation of audit documentation and support during underwriting audits. Assist in the compilation and maintenance of audit files to support underwriting audits and compliance requirements.
- Quarterly Reporting Validation: Support the validation of the data for quarterly reports in partnership with Pricing and Operations teams to ensure accuracy and completeness. Work with Underwriters to ensure all quarterly PSOs have been completed and distributed within a timely manner and ensure actions are followed up on and completed.
- Client Meeting Coordination: Support in the organising & attending quarterly client meetings, complete and distribute meeting minutes, and manage follow-up actions. Collaborate with Pricing and Operations teams to develop and enhance internal dashboards, incorporating feedback from Underwriting.
- Planning: Support the EMEA MGA team in gathering data for the annual planning process.
Required Education
Educated to A Level, or equivalent qualifications. Relevant university degree, or equivalence.
Required experience & competencies
Highly proficient in the use of Excel. Experience within the MGA insurance market is desirable, particularly across one or multiple of Operations, Analytics, Actuarial or Underwriting.
Assistant Underwriter, EMEA MGA employer: SCOR
SCOR is an exceptional employer that fosters a collaborative and inclusive work culture, where employees are encouraged to engage with industry experts and contribute to innovative solutions in the reinsurance sector. With a strong commitment to employee growth and development, SCOR offers opportunities for professional advancement while upholding its core values of integrity, courage, and teamwork. Located in the UK, this role as an Assistant Underwriter provides a unique chance to be part of a global team dedicated to making a positive impact on society through effective risk management.
StudySmarter Expert Advice🤫
We think this is how you could land Assistant Underwriter, EMEA MGA
✨Dive into Insurance Networking Events
Get your foot in the door by attending local insurance networking events or job fairs. These gatherings are perfect for us to meet potential employers in a casual setting, and you might just find a great connection to help land that entry-level role!
✨Join Online Insurance Communities
Hop onto platforms like LinkedIn or specialised forums centred on insurance. Engage with discussions, ask questions, and showcase your eagerness to break into the industry. This visibility can make you stand out to hiring managers scouring these spaces for fresh talent.
✨Leverage University Resources
If you're fresh out of uni, make sure to utilise your university’s career services. They can connect us with companies looking for entry-level candidates, often before jobs are even advertised. Keep an eye on internship opportunities, as they can lead to full-time positions down the line!
✨Apply Directly Through Us!
Don't forget to check our website for any entry-level openings at SCOR! Applying directly can give you a better chance to showcase your enthusiasm and passion for the insurance field, plus, it shows you’re keen to take the initiative.
We think you need these skills to ace Assistant Underwriter, EMEA MGA
Some tips for your application 🫡
Show Your Customer Service Skills:In the insurance industry, customer service is key! Highlight any experience you have in dealing with clients or customers, whether it's through a part-time job or volunteer work. Remember, we love seeing your potential to communicate effectively and empathise with clients in your application!
Tailor Your CV to Insurance Basics:When crafting your CV, don't forget to include any relevant courses or certifications you've taken in insurance or finance. If you've studied topics related to risk assessment or policy management, mention those! It shows us you're serious about getting into the insurance game.
Craft a Compelling Cover Letter:For entry-level roles, your cover letter is your chance to shine! Share why you're passionate about insurance and how you’re eager to learn and grow in this field. We want to see that you're genuinely excited about building your career with SCOR!
Highlight Your Analytical Mindset:Insurance is all about assessing risks and understanding numbers. Make sure to mention any coursework or experience you have with data analysis or critical thinking. Even if it’s from school projects or personal interests, we want to see that you can think analytically!
How to prepare for a job interview at SCOR
✨Know Your Basics: The Insurance Fundamentals
Understand the core concepts of insurance, such as risk assessment, underwriting, and claims processes. This knowledge will help us demonstrate our familiarity with the industry and prepare us for any technical questions that might pop up during the interview.
✨Prepare for Behavioural Questions
Insurance companies love behavioural interviews! We should think about times we've shown teamwork, problem-solving, and customer service skills. Reflecting on specific experiences will help us come across as reliable candidates who can handle the challenges of the role.
✨Show Enthusiasm for Learning
As this is an entry-level position, it's crucial to express our eagerness to learn and grow within the company. Employers like SCOR want to see that we're enthusiastic about diving into the insurance world and building our knowledge base over time.
✨Research Industry Trends
Staying updated on the latest trends in the insurance sector, like digital transformation and regulatory changes, can set us apart. Mentioning these trends during the interview shows that we’re engaged and have a forward-thinking mindset, aligning well with the company’s goals.