At a Glance
- Tasks: Evaluate insurance applications and conduct detailed risk analysis to determine pricing.
- Company: Touchstone Underwriting, a specialist MGA with strong broker relationships.
- Benefits: 25 days holiday, income protection, and professional development support.
- Other info: Opportunity for career growth and recognition in a supportive culture.
- Why this job: Join a dynamic team and make impactful underwriting decisions in a fast-paced environment.
- Qualifications: 2-5 years of underwriting experience and proficiency in risk assessment.
The predicted salary is between 36000 - 60000 £ per year.
Touchstone Underwriting is a specialist MGA delivering high quality underwriting solutions to the UK insurance market. We pride ourselves on strong broker relationships, technical underwriting expertise, and a pragmatic, service-led approach. As part of our continued growth, we are seeking an experienced Underwriter to join our underwriting team.
As an Underwriter you will be instrumental in delivering profitable growth using your extensive technical expertise and underwriting experience. You will lead the assessment and pricing of complex risks, act as a senior referral point for Underwriters and support the development of underwriting strategy and product innovation. Your role involves cultivating strong broker relationships ensuring underwriting discipline and governance standards are upheld. You will contribute to market insight, opportunity identification and pipeline growth, helping to shape the MGA’s trading direction and drive profitable outcomes. This position suits a commercially astute and technically proficient underwriter who thrives in a fast-paced, relationship-driven environment and is passionate about delivering high-quality underwriting results.
Key Responsibilities- Evaluate insurance applications, policy wordings, financials and supporting documents.
- Conduct detailed risk analysis to determine acceptability and pricing.
- Calculate premiums based on exposure, sector-specific risks and underwriting costs.
- Ensure adherence to underwriting guidelines and regulatory requirements.
- Quote and bind policies within delegated authority, referring upwards when necessary.
- Build and maintain strong productive relationships with brokers.
- Provide responsive service and expert guidance to meet broker needs.
- Identify trends and opportunities for cross-selling and portfolio growth.
- Promote consistent underwriting practices aligned with capacity Binder Authority agreements and internal standards.
- Ensure compliance with the FCA regulations.
- Support the Compliance Team to meet internal and external audit requirements.
- Maintain strong knowledge of governance, compliance and delegated authority protocols.
- Maintain accurate documentation for audit and compliance.
- Minimum 2–5 years in underwriting within the following sectors (property, commercial and/or casualty).
- Proficiency in risk and hazard identification, assessment and claims analysis.
- Ability to rate risks, identify referrals and understand risk appetite and acceptance criteria.
- Experience using underwriting software and tools.
- Strong understanding of financial statements and credit analysis.
- In-depth knowledge of the products being underwritten (e.g. property, commercial and/or casualty).
- Proven ability to make sound underwriting decisions within delegated authority and record evidence of such.
- Experience in evaluating complex cases and applying judgment to balance risk and profitability.
- Knowledge of relevant regulations (e.g., FCA guidelines in the UK, GDPR for data handling).
- Experience ensuring adherence to internal and external compliance standards.
- 25 days holiday
- Additional Holiday Purchase Scheme
- 24 Hour GP Service
- Income Protection Insurance
- Death in Service
- Anniversary Recognition
- CII Membership/Support
- Terry Berry Membership
Underwriter employer: Touchstone Underwriting
At Touchstone Underwriting, we are committed to fostering a dynamic and supportive work environment where our Underwriters can thrive. With a focus on professional development, we offer extensive growth opportunities alongside competitive benefits such as 25 days of holiday, income protection insurance, and access to a 24-hour GP service. Our strong emphasis on collaboration and innovation ensures that you will be part of a team that values your expertise and contributions in shaping the future of underwriting in the UK insurance market.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriter
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out to current underwriters. Building relationships can open doors that a CV just can’t.
✨Show Off Your Expertise
When you get the chance to chat with potential employers, make sure to highlight your technical skills and experience. Share specific examples of how you've assessed risks or built broker relationships – it’ll show you’re the real deal!
✨Be Ready for the Interview
Prepare for common underwriting interview questions and think about how you can demonstrate your knowledge of FCA regulations and compliance standards. Practise articulating your thought process when evaluating complex risks.
✨Apply Through Our Website
Don’t forget to apply directly through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Underwriter role. Highlight your experience in underwriting, especially in property, commercial, or casualty sectors. We want to see how your skills match what we're looking for!
Showcase Your Expertise:In your cover letter, showcase your technical expertise and experience with risk assessment and pricing. We love seeing candidates who can demonstrate their understanding of complex risks and how they’ve successfully navigated them.
Highlight Broker Relationships:Since building strong broker relationships is key for us, mention any relevant experiences where you've successfully collaborated with brokers. This will show us you understand the importance of these connections in underwriting.
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. We can’t wait to see what you bring to the table!
How to prepare for a job interview at Touchstone Underwriting
✨Know Your Underwriting Stuff
Make sure you brush up on your technical underwriting knowledge. Be prepared to discuss your experience with risk assessment, pricing strategies, and how you've handled complex cases in the past. This will show that you’re not just familiar with the basics but can also navigate the intricacies of underwriting.
✨Build a Rapport with Brokers
Since strong broker relationships are key for this role, think about how you can demonstrate your relationship-building skills. Share examples of how you've successfully collaborated with brokers in previous roles, and be ready to discuss how you would approach building those relationships at Touchstone Underwriting.
✨Showcase Your Compliance Knowledge
Familiarise yourself with FCA regulations and compliance standards relevant to the underwriting sector. Be prepared to discuss how you’ve ensured adherence to these guidelines in your previous roles, as this will highlight your commitment to maintaining high governance standards.
✨Prepare for Scenario Questions
Expect to face scenario-based questions that assess your decision-making skills. Think of specific examples where you had to evaluate risks, make underwriting decisions, or handle challenging situations. This will help you illustrate your problem-solving abilities and your understanding of underwriting discipline.
