At a Glance
- Tasks: Lead the launch of innovative Life Science products and engage with industry partners.
- Company: Join Sompo, a global leader in insurance with a commitment to diversity and inclusion.
- Benefits: Enjoy expansive health benefits, generous retirement plans, and global parental leave.
- Other info: Collaborative work environment in Manchester with excellent growth opportunities.
- Why this job: Make a real impact in the Life Science sector while developing your career.
- Qualifications: 8+ years of underwriting experience, especially in Life Science, with strong negotiation skills.
The predicted salary is between 58540 - 71548 £ per year.
Are you looking for your next opportunity? Sompo has a unique opportunity for a Senior Life Science Development Underwriter, UK for our Middle Market team. The Middle Market proposition offers comprehensive multi-line capabilities targeted at select industry verticals of real estate, hospitality, financial institutions, professional services, technology, and life science. We work through a network of retail brokers who share our commitment to long-term partnerships built on a strong service proposition. This role will focus specifically on the Life Science / Med Tech sector, building our product and proposition and working with our partner brokers in the UK.
Location: This position will be based out of our Manchester office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
What you’ll be doing:
- Support the Head of Life Science in launching a Life Science product, focusing on Casualty, Property, Professional Indemnity and Cyber lines.
- Lead external engagement and business development within the Life Science sector.
- Prioritization and evaluation of new and renewal submissions to identify those accounts that provide the greatest opportunity for profit consistent with the business plan and corporate profit objectives.
- Set appropriate terms and conditions per the Company underwriting strategy and guidelines to quote qualified risks.
- Attend client/broker meetings, lunches, dinners and other social outings as applicable.
- Exercise proper underwriting pricing and discipline to meet profitability goals, complying with underwriting guidelines, systems and procedures.
- Expand existing portfolio of business by developing existing relationships and new prospective clients.
- Supports our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture.
- Emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite.
- Conducts individual account underwriting audits as needed.
What you’ll bring:
- Cross class underwriting experience within the middle market space.
- Undergraduate, Insurance or advanced degree preferred.
- At least 8+ years of underwriting experience.
- 4+ experience within the Life Science sector.
- Established relationships with specialist Life Science brokers.
- Strong negotiation skills.
- Excellent communication (both written and verbal) skills.
Our Benefits
We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:
- Expansive Health & Wellness Benefits
- Generous Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
In today’s world, what do we stand for? We strive to create exceptional value for our clients and shareholders while maintaining Sompo as an attractive place to work. We foster an environment of ongoing, open dialogue between managers and their direct reports, and believe in an organizational environment where everyone belongs. We proudly are a multi-racial, multi-cultural, global enterprise. We reject all forms of racism, bigotry, prejudice and injustice and continue to invest in building out an inclusive and diverse work environment.
Sompo is an equal opportunity employer committed to a diverse workforce.
Summary Location: Manchester, United Kingdom; London, United Kingdom; Birmingham, United Kingdom Type: Full time
Life Science Development Underwriter in London employer: Sompo International
Sompo is an exceptional employer that prioritises collaboration and employee development within its London office. With a strong focus on health and wellness benefits, retirement plans, and professional growth opportunities, we create a supportive environment where employees can thrive in their careers while contributing to meaningful value for clients and communities. Our commitment to diversity and inclusion ensures that every team member feels respected and empowered to excel.
StudySmarter Expert Advice🤫
We think this is how you could land Life Science Development Underwriter in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Sompo International). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Sompo International. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Life Science Development Underwriter in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Sompo International.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Sompo International. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Sompo International
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Sompo International to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Sompo International, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Sompo International's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
