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For Companies At a Glance
- Tasks: Manage delegated underwriting arrangements and develop strategies for profitable growth.
- Company: Join Travelers, a leading property casualty insurer with over 160 years of innovation.
- Benefits: Enjoy competitive salary, private medical insurance, and 25+ days holiday.
- Why this job: Make an impact in a dynamic environment while collaborating with industry experts.
- Qualifications: Experience in managing delegated authority relationships and strong analytical skills required.
- Other info: Opportunities for professional development and community involvement through volunteering.
The predicted salary is between 36000 - 60000 £ per year.
Overview
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.
Job Category Underwriting Target Openings 1
What Is the Opportunity? Travelers is a leading provider of property casualty insurance for businesses and individuals, with a 165+ year history of innovation, integrity, and excellence. With operations in the U.S., U.K., and Ireland, we help our customers manage risk, recover from losses, and prepare for the future. Within Travelers, Bond & Specialty Insurance, is a dynamic and growing business segment. We specialize in management and professional liability insurance, as well as surety bonds, serving a diverse set of clients including non-profit organizations, multinational corporations and small businesses. Our specialized underwriters have deep industry knowledge and an ability to provide tailored solutions. This UW Officer, BSI Delegated Authority is responsible for managing all delegated underwriting arrangements within this specific product line(s), ensuring these partnerships deliver profitable growth while maintaining alignment with our underwriting philosophy and risk appetite. The position requires strong technical expertise in the product line, relationship management skills, and the ability to analyze portfolio performance. Liaises with US BSI colleagues to ensure European underwriting strategy is developed alongside US underwriting strategy.
What Will You Do?
- Develop and maintain underwriting guidelines specific to your product line for delegated authority partners and ensure the successful implementation of agreed underwriting strategies.
- Participate in the establishment of underwriting and product development strategies that reflect market competitive conditions and global BSI and Travelers Europe appetite.
- Establish strategic long and short-term strategies to effectively achieve profit and growth objectives
- Serve as the technical subject matter expert for the product line within the delegated authority framework
- Act as a referral point for complex or high-value risks submitted through delegated authority partners within your product line. In accordance with your underwriting authority, work with local authority holders and BSI US colleagues as appropriate to approve referrals.
- Collaborate with actuarial and pricing teams to establish and update product pricing frameworks for delegated partners
- Monitor, analyse, and report on market trends, emerging risks, performance of delegated authority arrangements, and competitive landscape specific to your product line.
- Identify opportunities for portfolio optimization and implement corrective actions when necessary
- Ensuring that automation systems and the tools to support product initiatives are designed, developed, & implemented effectively.
- Participate as the subject matter expert in Collaborative Underwriting Reviews and Portfolio Reviews for your product line.
- Work with claims teams to analyse claims trends and incorporate learnings into underwriting guidelines
- 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 while also maintaining strong relationships with partners.
- Identify potential new delegated authority partnerships and assist in the due diligence process
- Work with the appropriate stakeholders to approve and implement the overall strategy within the product line and delegated authority
- Contribute to reviewing training needs and creating and delivering training to Development Underwriters.
- Ensure all delegated authority arrangements within your product line(s) comply with regulatory requirements and internal risk management frameworks by maintaining accurate records, supporting governance framework implementation, and collaborating with stakeholders to review, approve, and sign off on new or amended policy wordings from delegated authority partners
- Perform other duties as assigned.
What Will Our Ideal Candidate Have?
- Bachelors Degree or higher education level preferred.
- Demonstrated experience in managing delegated authority relationships or working with MGA/TPAs
- Advanced level of proficiency required in the following: Organisation, Financial Acumen, Communication, Collaboration, Presentation Skill, Networking, Risk Selection and Critical and Analytical Thinking.
- Advanced level of proficiency in the following leadership competencies: Leading the Business including; Change Management, Strategic Planning, Making Decisions, Results Orientation, Influencing, Leadership, Power, Business Perspective, Risk Taking, Innovation and Understanding & Navigating the Organisation.
- Leading Others including; Forging Synergy, Develops Employees, Building Collaborative Relationships, Communicating Effectively, Leveraging Differences, Participative Management and Leading Employees.
- Leading Self including; Openness to Influence, Flexibility, Demonstrates Leadership Stature, Self-Awareness, Credibility and Seeks Opportunities to Learn.
- Advanced Qualification in Insurance preferred (ACII or equivalent).
What is a Must Have?
- Extensive understanding of UK Credit and Political Risk
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.
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 the benefits page.
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Delegated Underwriting Officer - Credit Insurance employer: Travelers
Contact Detail:
Travelers Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Underwriting Officer - Credit Insurance
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their values and how they align with your own. This will help you stand out and show that you're genuinely interested in being part of their team.
✨Tip Number 3
Practice makes perfect! Conduct mock interviews with friends or use online resources to refine your answers. Focus on articulating your experience and how it relates to the role of Delegated Underwriting Officer.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're serious about joining our awesome team at Travelers.
We think you need these skills to ace Delegated Underwriting Officer - Credit Insurance
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the role of Delegated Underwriting Officer. Highlight your experience in managing delegated authority relationships and any relevant qualifications, like ACII. We want to see how your skills align with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting and how you can contribute to our team. Be sure to mention your understanding of UK Credit and Political Risk, as it's crucial for this role.
Showcase Your Analytical Skills: Since this role involves analysing portfolio performance and market trends, make sure to highlight any relevant analytical experience. We love seeing candidates who can think critically and provide insights based on data!
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at Travelers
✨Know Your Stuff
Make sure you brush up on your knowledge of UK Credit and Political Risk. Understand the nuances of the product line you'll be working with, as well as the underwriting guidelines specific to delegated authority partners. This will show that you're not just interested in the role, but that you’re also prepared to hit the ground running.
✨Showcase Your Relationship Skills
Since this role involves managing partnerships, be ready to discuss your experience in relationship management. Prepare examples of how you've successfully collaborated with others, especially in complex situations. Highlight your ability to build strong relationships and communicate effectively, as these are key to thriving in this position.
✨Demonstrate Analytical Thinking
The job requires a strong analytical mindset, so come prepared to discuss how you've used data to make decisions in the past. Think about times when you’ve monitored market trends or analysed portfolio performance. Being able to articulate your thought process will impress the interviewers and show that you can contribute to their strategic goals.
✨Ask Insightful Questions
Interviews are a two-way street, so prepare some thoughtful questions about the company’s underwriting strategies and how they align with market conditions. This not only shows your interest in the role but also demonstrates your strategic thinking. It’s a great way to engage with the interviewers and leave a lasting impression.