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For Companies At a Glance
- Tasks: Underwrite construction insurance, manage risks, and build broker relationships.
- Company: Starr Insurance is a fast-growing global insurance and investment organisation.
- Benefits: Enjoy first-class training, inclusive culture, and opportunities for growth.
- Why this job: Join a dynamic team making an impact in the insurance industry.
- Qualifications: 2-3 years of construction underwriting experience; ACII studies preferred.
- Other info: We value diversity and are committed to creating an inclusive workplace.
The predicted salary is between 36000 - 60000 £ per year.
Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.
Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world’s fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.
Roles and Responsibilities
- Fully understand the risk and seek further clarity as required.
- Underwrite profitable business in accordance with business plans.
- Adhere to all Starr underwriting standards as outlined in the Underwriting Manual.
- Obtain sign-off for all business that is in excess of agreed authority levels or where any factor falls below rating guidelines.
- Adhere to rating tools and guidelines.
- Ensure that underwriting documentation, both paper and electronic, is accurate, complete, up-to-date and meet Lloyd’s standards.
- Ensure that the policy wordings and clauses are slip referenced and agreed.
- Ensure that all accounts are contract certain at the time of binding.
- Develop broker relationships and optimise opportunities to lead business.
- Explore client and company knowledge to identify and optimise cross-selling opportunities.
- Conduct Quality Assurance (QA) within 2 working days of binding or inception whichever is first.
- Conduct Peer Reviews within 30 working days from QA to check the underwriting rationale, terms and conditions, pricing against Starr guidelines and the completeness of files.
- Reconcile and report all premiums due versus received in order to manage credit control.
- Complete the front sheet to ensure that all required information is included.
- Enter schedule data and quotations accurately into the system.
- Ensure that the reinsurance split in the system matches the underwriting stamp.
- Ensure that the Underwriting Notes are complete.
- Log all bound, quoted, working and declined risks into the business log immediately.
- Ensure that the file is complete and contains all relevant documents. Obtain any outstanding items from the broker or underwriter in readiness for Peer Review.
- Ensure that signings are accurate and are consistent with written confirmations.
- Liaise with brokers to follow up on outstanding renewals.
- Follow up on outstanding quotes with the relevant broker.
Experience
- 2-3 years relevant Construction Underwriting experience.
Skills
- Analytical and problem solving skills;
- Negotiation, judgment and decision making skills;
- Professional business writing and presentation skills;
- Strong communicator, both written and oral.
Systems & IT
- Eclipse;
- Salesforce; and
- MS Office – Excel, Access, Word and Outlook.
Qualifications
- Studying for the ACII
Starr is an equal opportunity employer, which means we\’ll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we\’re committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.
About Us
Starr Insurance is a global insurance and investment organization providing property and casualty insurance solutions to business and industry, and one of the fastest-growing insurance companies in the world. Our talented and experienced associates manage risk and ultimately support the profitable growth of organizations in a dynamic, competitive and ever-changing marketplace. Join us and become part of our talented and passionate workforce.
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Construction Underwriter employer: Starr Companies
Contact Detail:
Starr Companies Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Construction Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends and regulations in construction underwriting. This knowledge will not only help you understand the risks better but also demonstrate your commitment to staying updated in the field during interviews.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those involved in construction underwriting. Attend relevant events or join online forums to build relationships that could lead to job opportunities at Starr Insurance.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed underwriting risks in the past. Being able to articulate your experience with real-life scenarios will set you apart from other candidates.
✨Tip Number 4
Research Starr Insurance Companies thoroughly, including their values and recent projects. Tailoring your conversation to align with their mission and demonstrating your enthusiasm for their work can make a strong impression during interviews.
We think you need these skills to ace Construction Underwriter
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Construction Underwriter. Familiarise yourself with the key tasks mentioned in the job description, such as underwriting profitable business and developing broker relationships.
Tailor Your CV: Customise your CV to highlight relevant experience in construction underwriting. Emphasise your analytical skills, problem-solving abilities, and any specific software knowledge like Eclipse or Salesforce that aligns with the job requirements.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the insurance industry and your understanding of Starr Insurance Companies. Mention how your skills and experiences make you a perfect fit for the role and how you can contribute to their growth.
Proofread Your Application: Before submitting, carefully proofread your application materials. Check for spelling and grammatical errors, and ensure that all information is accurate and presented professionally. A polished application reflects your attention to detail.
How to prepare for a job interview at Starr Companies
✨Know Your Underwriting Standards
Familiarise yourself with Starr's underwriting standards and guidelines. Be prepared to discuss how you have adhered to similar standards in your previous roles, as this will demonstrate your understanding of the importance of compliance in underwriting.
✨Showcase Your Analytical Skills
Prepare examples that highlight your analytical and problem-solving skills. Discuss specific situations where you successfully assessed risks and made informed decisions, as this is crucial for a Construction Underwriter role.
✨Build Rapport with Brokers
Since developing broker relationships is key, think of ways to demonstrate your interpersonal skills. Share experiences where you effectively communicated with brokers or clients to optimise business opportunities.
✨Be Ready for Technical Questions
Expect technical questions related to underwriting processes and tools like Eclipse and Salesforce. Brush up on your knowledge of these systems and be ready to explain how you've used them in your previous roles.
