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For Companies At a Glance
- Tasks: Underwrite Financial Institutions insurance, manage risks, and build broker relationships.
- Company: Join a forward-thinking insurance company dedicated to making a difference.
- Benefits: Opportunities for growth, collaboration, and a supportive work environment.
- Why this job: Shape the future of insurance while achieving your goals and helping others.
- Qualifications: Knowledge of insurance principles and relevant underwriting experience preferred.
- Other info: This role is based in London; right to work required.
The predicted salary is between 36000 - 60000 £ per year.
INTL Underwriter II – UW08WZ
We’re determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals – and to help others accomplish theirs, too. Join our team as we help shape the future.
Underwriting Financial Institutions insurance lines including Professional Indemnity, Directors and Officers and Crime, whilst managing risk and profitability and developing and maintaining relationships with Brokers.
Job Responsibilities
- Support growth of a profitable book within guidelines
- Production of new business in line with the business plan and target clients/business
- Manage renewal of accounts by applying strategies to retain quality business and monitor rate change
- Provide technical expertise and market knowledge of the Financial Institutions products and sector including monitoring of trends and regulatory developments
- Ensure Group’s standards for risk analysis, risk selection, technical pricing and renewal date monitoring are met
- Collaborate with Operations to ensure that timely and accurate data recording is achieved
- Ensure accurate data entry in systems
- Collaborate with Claims and Actuarial functions to enhance risk management
- Identify cross selling opportunities with other lines of business
- Support the execution of the team’s marketing strategies including structured broker presentations of the FI appetite
Capabilities
- First-hand, technical knowledge of financial institutions risks
- Excellent negotiation, communication and decision-making skills
- Ability to prioritise and organise workload to meet deadlines
- Ability to develop and maintain relationships with internal and external stakeholders
Experience
- Knowledge of general insurance and its underlying principles
- Relevant underwriting or broking experience within FI preferred
This role will be based in London, UK and you are required to have the necessary right to work details prior to application.
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Financial Institutions Underwriter employer: The Hartford
Contact Detail:
The Hartford Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Institutions Underwriter
✨Tip Number 1
Familiarize yourself with the latest trends and regulatory developments in the Financial Institutions sector. This knowledge will not only help you during interviews but also demonstrate your commitment to staying informed and relevant in the field.
✨Tip Number 2
Network with professionals in the underwriting and insurance industry, especially those who specialize in Financial Institutions. Building relationships with brokers and other stakeholders can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've managed risk and profitability in previous roles. Highlighting your technical expertise and decision-making skills will set you apart from other candidates.
✨Tip Number 4
Showcase your negotiation and communication skills by practicing common underwriting scenarios. Being able to articulate your thought process and strategies clearly will be crucial during the interview process.
We think you need these skills to ace Financial Institutions Underwriter
Some tips for your application 🫡
Understand the Role: Take the time to thoroughly read the job description for the Financial Institutions Underwriter position. Understand the key responsibilities and required skills, as this will help you tailor your application effectively.
Highlight Relevant Experience: In your CV and cover letter, emphasize any relevant underwriting or broking experience you have within financial institutions. Use specific examples to demonstrate your technical knowledge and negotiation skills.
Showcase Your Skills: Make sure to highlight your communication, decision-making, and organizational skills in your application. These are crucial for the role, so provide examples of how you've successfully used these skills in past positions.
Tailor Your Cover Letter: Craft a personalized cover letter that reflects your understanding of the company’s goals and how you can contribute to them. Mention your ability to develop relationships with brokers and your commitment to risk management.
How to prepare for a job interview at The Hartford
✨Showcase Your Technical Knowledge
Make sure to highlight your first-hand technical knowledge of financial institutions risks during the interview. Be prepared to discuss specific examples from your past experience that demonstrate your understanding of underwriting principles and how they apply to this role.
✨Demonstrate Strong Communication Skills
Since excellent communication is key in this role, practice articulating your thoughts clearly and confidently. Prepare to discuss how you've successfully negotiated with brokers or stakeholders in the past, showcasing your ability to build and maintain relationships.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your decision-making and risk analysis skills. Think about past situations where you had to manage risk and profitability, and be ready to explain your thought process and the outcomes of your decisions.
✨Research Current Trends and Regulations
Stay updated on the latest trends and regulatory developments in the financial institutions sector. Being knowledgeable about current events will not only impress your interviewers but also show your commitment to the industry and your proactive approach to risk management.
