At a Glance
- Tasks: Manage a diverse DUA portfolio and drive profitability through data-driven decisions.
- Company: Join Travelers, a leading property casualty insurer with a collaborative culture.
- Benefits: Enjoy competitive salary, hybrid work options, and a wellness programme.
- Other info: Be part of a company that values diversity and community involvement.
- Why this job: Make an impact in a growing team while developing your underwriting expertise.
- Qualifications: Experience in underwriting and strong analytical skills are essential.
The predicted salary is between 58540 - 71548 £ per year.
Join our Delegated Financial Lines team as an Associate Underwriting Officer and help manage a diverse DUA portfolio across Management Liability, FI, PI and Cyber at a time of strong, sustained growth.
You'll lead on portfolio management - shaping strategy, monitoring performance, driving profitability, optimising pricing and making data driven adjustments to keep the book on track.
You'll use your technical Financial Lines and Delegated Authority expertise to assess third party proposals, handle referrals, and oversee audits and policy wording reviews.
This highly collaborative role will see you building strong trading relationships with DUA partners worldwide and working closely with stakeholders across Travelers Europe and the US.
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.
- Product Line Oversight & Technical Leadership
- Act as a senior referral point for complex or high-value risks submitted through delegated authority partners, providing over-authority decisions in accordance with your underwriting authority.
- In conjunction with CUO Delegated FL, support the establishment of strategic long and short term strategies to effectively achieve profit and growth objectives.
- Participate in the establishment of underwriting and product development strategies that reflect market competitive conditions and global BSI and Travelers Europe appetite.
- In conjunction with the relevant business unit leaders, ensure the successful implementation of agreed underwriting strategies by delegated partners.
- Collaborate with actuarial and pricing teams to establish and update product pricing frameworks for delegated partners.
- Monitor market trends, emerging risks, regulatory environments and competitive landscape in territories relevant to the delegated portfolio, making recommendations for underwriting strategy revisions where needed.
- Portfolio Management & Performance Analysis
- Monitor and analyse the performance of delegated authority arrangements, including production metrics, loss ratios, and claims trends, making recommendations for pricing or strategy changes as needed.
- Identify opportunities for portfolio optimization and implement corrective actions when necessary.
- Assist with the preparation of regular performance reports on delegated authority portfolio results.
- Prepare and present Collaborative Underwriting Reviews and Portfolio Reviews for delegated business.
- Work with claims teams to analyse claims trends and incorporate learnings into underwriting guidelines.
- Partner Management & Development
- Conduct regular underwriting audits of delegated authority partners to ensure compliance with guidelines and authority limits.
- Provide technical training and support to delegated partners to enhance their underwriting capabilities.
- Build and maintain strong relationships with DUA partners, brokers, and internal colleagues across Underwriting, Actuarial, Claims, Finance, Compliance and Operations.
- Identify new delegated authority partnerships and oversee the due diligence process.
- Provide technical support and feedback to DUA partners to enhance their underwriting capabilities and alignment with Travelers appetite.
- Governance & Compliance
- Ensure all delegated arrangements within your product lines comply with regulatory requirements (including Lloyds) and internal risk management frameworks.
- Collaborate with appropriate stakeholders to approve and sign-off new policy wordings or amendments referred by delegated authority partners.
- Maintain accurate records of all delegated authority arrangements and related documentation.
- Support the implementation of governance frameworks established by senior management.
- 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
Travellers 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.
Requirements
- Demonstrated experience in managing delegated authority relationships or working with MGAs/TPAs
- Strong technical knowledge of D&O, PI, Cyber, and FI in cluding coverage analysis, risk assessment, and pricing
- Familiarity with Lloyd's delegated authority frameworks
- Proven track record of delivering profitable underwriting results
- Strong analytical skills with the ability to interpret data and translate insights into actions
- Excellent negotiation and relationship management skills
- Awareness of market coverage trends and ability to analyse coverage against company risk appetite
- Strong decision-making capabilities, particularly with complex risk scenarios
- Good interpersonal and communication skills, with a collaborative approach to working with internal and external stakeholders
- ACII qualified.
What is a Must Have?
- Relevant underwriting experience in Professional Indemnity, Management Liability, Financial Institutions and/or Transactional Liability classes with a demonstrated experience in handling complex risks either as an underwriter or a referral point for underwriters.
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 170 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.
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Associate Underwriting Officer - Delegated Financial Lines in City of Westminster employer: The Travelers
The Travelers is an exceptional employer, offering a dynamic work environment in the heart of London where innovation meets tradition. With a strong focus on employee development and a commitment to work-life balance through hybrid arrangements, we empower our team to excel in their careers while enjoying a supportive culture that values collaboration and professional growth. Join us to be part of a leading company in the insurance sector, where your contributions directly impact our success and the industry at large.
StudySmarter Expert Advice🤫
We think this is how you could land Associate Underwriting Officer - Delegated Financial Lines in City of Westminster
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We think you need these skills to ace Associate Underwriting Officer - Delegated Financial Lines in City of Westminster
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 The Travelers.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at The Travelers. 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 The Travelers
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at The Travelers 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 The Travelers, 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 The Travelers'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.
