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For Companies At a Glance
- Tasks: Manage and underwrite a diverse portfolio while building strong broker relationships.
- Company: Join Travelers, a leading property casualty insurer with over 160 years of innovation and collaboration.
- Benefits: Enjoy hybrid work options, private medical insurance, generous holiday entitlement, and wellness programmes.
- Why this job: Be part of a supportive culture that values diversity and encourages community involvement.
- Qualifications: A Levels or similar qualification with strong underwriting and analytical skills required.
- Other info: Opportunity to mentor junior team members and engage in impactful projects.
The predicted salary is between 48000 - 72000 £ per year.
Who Are We?
Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.
Target Openings
1
What Is the Opportunity?
Business Insurance helps companies in the UK and Ireland identify, prepare for and mitigate risks by offering a broad array of industry-specific, combined property and casualty insurance solutions to customers. This includes SME solutions traded directly, Commercial Accounts traded via brokers, and Corporate Solutions to FTSE 350 Risk Managed companies.
We are looking for a new business focused Senior Underwriter to take responsibility for proactively managing submissions, quotes and binds; delivering against target quote and conversion ratios. You will be instrumental in strategically partnering with brokers as well as building relationships internally to negotiate terms to drive results and provide insurance solutions to customers.
You will be decisive, detail-oriented be able to independently assess risks, negotiate terms, and sell our products in challenging markets to contribute to the sustainable profitability and success of Travelers.
Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.
What Will You Do?
- Manage the profitability, growth, and retention of an assigned book of business primarily comprised of moderate to complex accounts across all our products.
- Underwrite and skillfully negotiate moderate to complex risks to minimise risk and maximise profitability, including Mid Term Adjustments (MTAs).
- Proactively manage your portfolio, ensuring key performance indicators are consistently achieved and you actively target new business and retention.
- Identify and take corrective action based on individual risk characteristics identified through Portfolio Management to actively manage your portfolio of risks.
- Identify and capture opportunities to write additional lines of business using knowledge of products, risk characteristics and appetite.
- Proactively utilise various technology platforms to quote and bind risk efficiently.
- Prepare, lead and present Underwriting Reviews for individual policies or portfolios/schemes and manage action points.
- Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to identify cross-selling opportunities.
- Foster and maintain relationships with brokers by phone, email or other communication channels to market and sell Travelers products with a goal of writing and retaining accounts consistent with our risk appetite. Must be able to travel to meetings.
- Develop and execute pipeline plans and support the renewal team in the retention of business that aligns with the team’s sales plans to drive success working in partnership with the sales team.
- Train and mentor less experienced underwriters.
- Support and collaboration for more junior members of the team, including referrals.
- Perform other duties as assigned.
What Will Our Ideal Candidate Have?
- A Levels or similar qualification.
- Knowledge: Deep knowledge of products, the regulatory environment, and the local insurance market.
- Analytical/Critical thinking: Strong critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyse available information to make decisions in alignment with our risk appetite.
- Communication/Influence: Excellent communication skills with the ability to successfully negotiate in difficult situations with brokers.
- Inclusion: Ability to work with people from different backgrounds, experiences, cultures, races, etc. and views those differences as assets to be leveraged to accomplish business goals and objectives.
- Leadership: Experience coaching and mentoring others.
- Industry / Competitor Analysis: Review competitor press releases and industry trade press for helpful insights, linking key themes together and identifying applicability to team strategies.
- Project Management: Participate in and/or lead projects that involves complex analysis and implementation of non-complex, routine business and regulatory changes relating to the enhancement, maintenance or introduction of new products.
What is a Must Have?
- Strong experience of underwriting, product knowledge, financial analysis, or risk assessment experience.
What Is in It for You?
- Private Medical Insurance:On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
- Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan. Additionally, if you decide to contribute to the plan, you will receive an increased company contribution.
- Holiday Entitlement:Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
- Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
- Volunteer Encouragement:We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.
Employment Practices
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.
Travelers reserves the right to fill this position at a level above or below the level included in this posting.
To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.
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Senior Development Underwriter employer: The Travelers Indemnity Company
Contact Detail:
The Travelers Indemnity Company Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Development Underwriter
✨Tip Number 1
Familiarise yourself with the latest trends in the insurance market, especially regarding property and casualty insurance. Understanding the current landscape will help you engage in meaningful conversations with brokers and demonstrate your expertise during interviews.
✨Tip Number 2
Network with professionals in the underwriting field, particularly those who work with brokers. Attend industry events or webinars to build relationships and gain insights that could give you an edge when applying for the Senior Development Underwriter position.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed a portfolio of risks in previous roles. Highlight your ability to negotiate terms and drive results, as these are key aspects of the role at Travelers.
✨Tip Number 4
Research Travelers' company culture and values, particularly their commitment to innovation and collaboration. Be ready to articulate how your personal values align with theirs, as cultural fit is often a significant factor in hiring decisions.
We think you need these skills to ace Senior Development Underwriter
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in underwriting, risk assessment, and financial analysis. Use specific examples that demonstrate your ability to manage complex accounts and negotiate terms effectively.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention how your skills align with the responsibilities outlined in the job description, particularly your experience in building relationships with brokers and managing portfolios.
Showcase Your Analytical Skills: Provide examples of how you've used analytical thinking in previous roles. Discuss specific instances where you assessed risks or made decisions that positively impacted profitability and growth.
Highlight Communication Abilities: Emphasise your communication skills in both your CV and cover letter. Include examples of successful negotiations with brokers or internal stakeholders, showcasing your ability to influence and collaborate effectively.
How to prepare for a job interview at The Travelers Indemnity Company
✨Showcase Your Underwriting Expertise
Be prepared to discuss your experience in underwriting, particularly with moderate to complex risks. Highlight specific examples where you've successfully assessed risks and negotiated terms, as this will demonstrate your capability to handle the responsibilities of the role.
✨Demonstrate Strong Analytical Skills
Expect questions that assess your analytical and critical thinking abilities. Prepare to explain how you analyse financial information and make decisions aligned with risk appetite. Use real-life scenarios to illustrate your thought process.
✨Emphasise Communication and Negotiation Skills
Since the role involves negotiating with brokers, practice articulating your thoughts clearly and confidently. Be ready to share instances where you've successfully navigated difficult negotiations, showcasing your ability to influence and communicate effectively.
✨Foster a Collaborative Mindset
The company values collaboration, so be prepared to discuss how you've worked with diverse teams in the past. Share examples of how you've built relationships internally and externally, and how these collaborations have led to successful outcomes.
