At a Glance
- Tasks: Support underwriters in processing reinsurance policies and data analysis.
- Company: Dynamic reinsurance firm focused on innovation and growth.
- Benefits: Competitive salary, training opportunities, and a supportive work environment.
- Other info: Great opportunity for career progression in a collaborative team.
- Why this job: Kickstart your career in underwriting with hands-on experience and mentorship.
- Qualifications: A Levels or equivalent; ACII qualifications preferred.
The predicted salary is between 30000 - 40000 £ per year.
Description
Key Accountabilities & Role Requirements
- To liaise with operational functions on the processing of Reinsurance policies.
- To assist underwriters in the completion of modelling submissions, pricing tools and account documentation.
- To assist in exposure management and portfolio data analysis.
- To engage in underwriting training and development, both internally and externally, with the ultimate aim of attaining underwriting authority.
- Engage with brokers and clients, building market relationships.
- To monitor and respond to changes in regulation and compliance.
- Prepare for and attend peer review meetings.
- Undertake analysis/tracking of QS bordereaux.
Skills & Competencies Required
- Communication skills – ability to communicate clearly with internal stakeholders and external clients and brokers at all levels, both verbally and in writing.
- Administrative skills – highly organised and able to prioritise tasks effectively. Applicants should have excellent attention to detail and an ability to meet deadlines.
- Presentation skills – ability to present to internal and external stakeholders
- Analytical skills – numerically literate and able to analyse data.
- Compliance – ability to ensure compliance with all management and regulatory controls.
As part of the applicant’s progression to attaining underwriting authority, the additional competencies expected include:
Judgement / Decision-making skills – ability to approach problems logically and rationally and evaluate quantitative and qualitative data to make measured risk decisions.
Relationship building – ability and confidence to establish and maintain excellent relationships with external stakeholders (such as brokers, clients, and reinsurers) in a client-facing role.
Qualifications & Experience
ACII qualifications or willing to work towards.
A Levels or equivalent.
Excellent IT skills – including intermediate Excel (ability to use formulas effectively and produce graphical data), and other Windows Office and Adobe applications.
Strong numerical skills.
Lloyd’s market experience preferable.
This job description describes the general nature and level of work performed in this role.
It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc.
These may be subject to change and additional functions may be assigned as needed by management. #wspi
Underwriting Assistant, Reinsurance in London employer: Westfield Insurance
As an Underwriting Assistant in Reinsurance, you will thrive in a dynamic and supportive environment that prioritises employee development and growth. Our company fosters a collaborative work culture where you can build meaningful relationships with brokers and clients while receiving comprehensive training to enhance your underwriting skills. Located in a vibrant area, we offer competitive benefits and a commitment to compliance and excellence, making us an exceptional employer for those seeking a rewarding career in the insurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriting Assistant, Reinsurance in London
✨Get Clued Up on Insurance Events
Join local insurance events or workshops to network and soak in knowledge about the industry. It's a great way to meet potential employers, like Westfield Insurance, and show off your enthusiasm for the field. Plus, you’ll gain insights that'll make you stand out during your interviews!
✨Tap into Your University’s Resources
Many universities offer career services specifically tailored for students looking for trainee roles in insurance. Make sure to utilise these—they can connect you with alumni in the industry or help you snag those hidden opportunities that aren't advertised widely!
✨Showcase Your Knowledge
Start a blog or social media account where you can share insights about current trends in insurance. This demonstrates your passion and keeps you in the minds of recruiters at places like Westfield Insurance. A personal touch always helps in making a memorable impression!
✨Apply Through Our Website & Make It Personal
Don’t just hit 'apply' on the Westfield Insurance website. Tailor your application to highlight your interest in the insurance sector and showcase any relevant projects or experiences. A few personal touches can go a long way in landing that trainee spot!
We think you need these skills to ace Underwriting Assistant, Reinsurance in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In the insurance industry, analytical skills are a must. Make sure to showcase any relevant coursework or projects where you've solved complex problems or worked with data. This can really set you apart, especially in your CV or cover letter!
Show Your Interest in the Sector:For a trainee role, it’s super important to demonstrate your genuine interest in insurance. Talk about any internships, part-time jobs, or relevant studies that have sparked your passion for this field. We want to see that you're eager to learn and grow with us at Westfield Insurance!
Tailor Your Cover Letter to the Role:Your cover letter should reflect your enthusiasm for the trainee position at Westfield Insurance. Use it to explain why you're excited about a career in insurance and what you hope to learn during your time with us. Make it personal and engaging—it’ll catch our eye for sure!
Include Relevant Certifications or Courses:Even as a trainee, any extra certifications or courses related to insurance can really boost your application. Whether it's online courses or workshops, throw them in your CV to show us that you’re proactive about your professional development. It’ll demonstrate your commitment to stepping into this industry with enthusiasm!
How to prepare for a job interview at Westfield Insurance
✨Understand the Basics of Insurance
Since you're interviewing for a trainee role in insurance, it’s vital to brush up on the key concepts in the industry. Familiarise yourself with terms like underwriting, risk assessment, and claims processing. It shows your genuine interest and helps you answer those technical questions more confidently.
✨Prepare for Scenario-based Questions
Expect scenario-based questions during your interview! They might dive into how you would handle specific insurance situations or customer complaints. Think about examples from your studies or past experiences where you demonstrated problem-solving and customer service skills. They're looking for how you approach issues in a practical setting.
✨Focus on Your Learning Potential
As a trainee, your eagerness to learn is key. Be ready to discuss what excites you about the insurance field and how you plan to grow within the role at Westfield Insurance. Highlighting your adaptability and willingness to learn will make a great impression.
✨Show Your People Skills
Insurance is all about building relationships, whether it's with clients or colleagues. Prepare to share experiences where you’ve effectively communicated or worked as part of a team. Remember, your soft skills are just as important as your technical knowledge in this industry!
