Assistant Underwriter, International Binders
London, United Kingdom
Job Description
The role holder will be responsible, with underwriter support, for reviewing, pricing, analysing and managing underwriting enquiries and binding authorities.
Responsibilities
Underwriting within guidelines of letter of authority.
Handle underwriting referrals from MGAs and coverholders, accepting or declining, or amending terms as appropriate.
Assist with the management and supervision of binding authorities, including renewals of existing binding authorities and the onboarding of new MGAs.
Liaising with other stakeholders such as delegated underwriting, claims, compliance, actuarial, and wording teams.
Undertake actuarial pricing projections using historic loss ratio, premium and claims information.
Research submissions using appropriate sources.
Verifying profit commission calculations, gathering data and coordinating internally.
Assisting with compliance work such as fair value assessments.
Ensure calculations of premiums and local taxes are accurate for reporting requirements, and maintain and monitor detailed coverholder premium estimates. Chasing bordereau data where necessary and resolving data issues as required.
Ensure timely scanning of core risk documentation to relevant folders or document management systems.
Submission of data to outsourcers, data verification and integrity checks.
Liaise with the Underwriter as required to ensure contract wording is fit for purpose.
Photocopying, filing and archiving of key documentation in a timely manner as required.
Broker/Client Interaction
Provide a professional service to coverholders, brokers, and external suppliers in person, writing, email and telephone.
Maintain and develop coverholder and 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.
Analysing coverholder data to track and measure changes to rating, exposure and other key metrics.
Produce ad hoc reports, presentations and other team literature for key relations as and when requested.
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, DU, operations and compliance on matters in a timely fashion.
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 principle 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 duties.
Contributing to the team’s targets through effective and quality Underwriting within agreed limits.
Qualifications
Required Education
Educated to A Level, or equivalent qualifications.
Progression towards a professional qualification.
Relevant university degree, or equivalence.
Lloyds Market Test.
Required experience & competencies
Prior underwriting experience, ideally within property lines.
Good MS Office applications skills (Outlook, Word, Excel, PowerPoint).
Familiar with using UW systems, rating tools, reporting etc.
Experience within an International 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.
- Locations Level 6, London, United Kingdom, EC2N 4BQ, GB
Assistant Underwriter, International Binders employer: SCOR
SCOR is an exceptional employer, offering a vibrant and inclusive work culture that fosters collaboration and innovation within its dynamic actuarial team. As an intern in the heart of the Lloyd's of London insurance market, you will gain hands-on experience with cutting-edge modelling tools while working alongside industry experts, ensuring ample opportunities for personal and professional growth. With a commitment to diversity and employee well-being, SCOR not only values your contributions but also supports your development in a meaningful and rewarding environment.
