Assistant Underwriter - Fine Art & Specie -SCOR Business Solutions (SBS)

Assistant Underwriter - Fine Art & Specie -SCOR Business Solutions (SBS)

London, United Kingdom

Job Description

The role holder will be responsible, with underwriter support, for reviewing, pricing and analysing enquiries sent to the team, and then responding to brokers with indications of SCOR’s Terms be they acceptance or declinatures; as well as agreeing endorsements to existing policies.The role will support the underwriting function through risk assessment, broker engagement, portfolio monitoring and underwriting decision-making within delegated authority levels.
During an initial transition period, you will support both underwriting and underwriting administration activities. As certain operational and administrative tasks are transferred to dedicated underwriting support resources, the role will become increasingly focused on underwriting analysis, broker engagement, portfolio management and underwriting decision-making within agreed authority levels.

Responsibilities

Underwriting within guidelines of Letter of Authority and Syndicate Guidelines for NBIs, renewals, new business and endorsements as applicable.

Contract certainty checks on all lead slips

Ensure KYC is up to date on all SCOR Europe business

Review and rate all enquiries to obtain adequacy ratios

Know the referral criteria and ensure all underwriters have referred relevant risks to relevant reviewers

Know sanctioned risks and refer to Compliance team if required

Photocopying, filing and archiving of key documentation in a timely manner as required

Ensure calculations of premiums and local taxes are accurate for reporting requirements.

Ensure timely scanning of core risk documentation to relevant folders or document management systems

Data verification and integrity checks

Liaise with the Underwriter as required to ensure contract wording is fit for purpose

Research submissions using appropriate sources

Work with the credit analysts to discuss the financial position of obligors on relevant risks

Track the live status of all risks through every stage in the risk cycle

Monitor upcoming renewals and risks in the new business pipeline

AttendSCOR’s Lloyd’s box to service brokers submissions and endorsements, and negotiate policy terms

Broker/Client Interaction :

Provide a professional service to brokers, clients and external suppliers in person, writing, email and telephone

Maintain and develop broker relationships, responding to queries in a timely fashion

Prepare for, attend, and take minutes at client meetings as required

Liaise with brokers to ensure all slips and additional information received is accurate and complete

Reporting & Operational Requirements:

Provide accurate management information to the Underwriting team and senior management when required.

Monitor and relay to the whole Team, the constant movements of the Team’s Aggregation Exposre to the following… Nat Cat, Man Made Cat and single premises exposure. Produce ad hoc reports, presentations and other team literature for key relations as and when requested

Monitor and chase brokers for all credit control aged debt ensuring the timely collection of premiums

General Requirements:

Identify and report problems within the underwriting administration system and assist with solution design.

Assist with User Acceptance Testing of the underwriting administration system as and when required.

Interact with all SCOR teams including claims, finance, operations and compliance on matters affecting or related to accounts within the team’s portfolio

Help maintain SCOR minimum standards by assisting Underwriting Assistants in achieving their service levels and targets as required

Participate in cross-team projects as required

Undertake any other reasonable duties as may be requested by SCOR staff

Comply with SCOR policies, procedures and regulations relevant to your role

Manage training needs through attendance of relevant training as advised by your line manager and also market presentations where relevant to your role

Carry out additional responsibilities as defined through your objectives

Uphold the principal of Treating Customers Fairly

Finalities

Contributes to the Company’s result by:

Guaranteeing that the underwriters have accurate and up to date information to assist them in performing their dutie

Contributing to the team’s targets through effective and quality Underwriting within agreed limits.

Qualifications

Required experience & competencies

• Experience within an underwriting, assistant underwriting, underwriting support, broker, or insurance operations role.
• Demonstrable understanding of commercial insurance underwriting principles, including risk assessment, pricing methodologies, policy structures and underwriting controls.
• Experience reviewing and analysing new business, renewal and endorsement submissions.
• Strong numerical and analytical skills, with the ability to interpret underwriting information, premium calculations and exposure data.
• Experience working within underwriting authorities, guidelines, referral frameworks and compliance requirements.
• Ability to exercise sound judgement and make underwriting decisions within delegated authority levels.
• Strong organisational skills with the ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Excellent written and verbal communication skills, with experience liaising professionally with brokers, clients and internal stakeholders.
• Strong attention to detail and commitment to data accuracy, record keeping and regulatory compliance.
• Proficiency in Microsoft Office applications, particularly Excel, Word, Outlook and PowerPoint .
• Experience within the Lloyd's and/or London Market.
• Experience underwriting or supporting commercial or specialty insurance classes.
• Experience providing quotations, indications, endorsements and policy amendments.
• Familiarity with aggregation management, exposure monitoring and portfolio reporting.
• Experience using underwriting, rating and policy administration systems, particularly Xuber.
• Experience attending broker meetings and developing broker relationships.
• Knowledge of Lloyd's market systems and processes.
• Experience within an international insurance or reinsurance environment.
  
• Outcome focused, self-motivated, flexible, enthusiastic
• Professional approach to working with key stakeholders at all levels of authority
• Organised
• Demonstrate ability to manage time, meet deadlines and prioritise effectively
• Proactive with drive to succeed
• Uses initiative and common sense
• Approachable
• Strong communication skills verbally, in writing and via email and telephone
• Team player as well as capable of working on own initiative

Education & Qualifications

• Educated to A-Level standard, or equivalent qualification and/or relevant insurance experience.

ACII qualified, or actively working towards completion of ACII qualifications.

A relevant university degree or equivalent professional experience.

Completion of the Lloyd’s Market Test.

Additionalqualifications ininsurance or financial services.

Ready for your next step?
Join SCOR and build your career in a global, expert-led and collaborative environment, with the opportunity to learn, grow and make a genuine impact.

• Locations Level 6, London, United Kingdom, EC2N 4BQ, GB

About Us

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.

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