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For Companies At a Glance
- Tasks: Evaluate and underwrite property risks while ensuring compliance and profitability.
- Company: Join a leading insurance business experiencing exciting growth.
- Benefits: Enjoy 100% remote work and flexible hours with a supportive team.
- Why this job: Be part of a dynamic organisation making an impact in the insurance industry.
- Qualifications: Experience in Property Underwriting within an MGA or insurance company is essential.
- Other info: Opportunity to develop skills and knowledge in a collaborative environment.
The predicted salary is between 36000 - 60000 £ per year.
Our client is a leading insurance business and they are now looking to recruit a Property Underwriter for a 100% remote home working role to be responsible for the evaluation, product proposition including rate setting and underwriting of property owners (Residential and Commercial) Unoccupied Properties, Package SME retail, Leisure, Office and Surgeries Package as well as Commercial Combined in accordance with the approved business plan. This is a great opportunity to join a highly successful organisation at an exciting stage of growth.
Principle Accountabilities
- Risk assessing, working with Market rates and Terms
- Supporting MGA's delegated authorities/binders (and any others required) by producing an underwriting profit on various lines of commercial business primarily Property/Package/Commercial Combined and Liability.
- Review and analyse insurance applications for Property, Package, Commercial Combined risks
- Monitor loss ratio and ensuring a combined operating ratio is achievable for all parties.
- Ensuring maximum G.W.P and commission
- Construct Policy Wordings
- To support the Group Underwriting Manager in expanding the account line with the syndicate plans whilst maintaining a focus on bottom line improvement
- Monitor accuracy of contracts (contract certainty)
- Assist in preparation of statistics and documentation as required
- Pricing and analysis of new and renewal binding authorities
- Monitor risk level data
- Stay updated on industry trends, regulations, and guidelines to ensure compliance and accurate risk assessment
- Assist Group Underwriting and Development Manager with Conduct Risk and participate in peer review process
- Manage the underwriting guidelines, appetite and authority of the product line
- Operate within delegated authority
- Develop / Share knowledge with team to ensure support and reduce single point of dependency
Skills and Abilities
- Proven track record in Property Underwriting within an MGA, Insurance company, Lloyd's syndicate or oversight of a Broker DUA
- Understanding, applying, and explaining of core principles, practice, and market knowledge
- Develops and enhances relationships both internally and externally.
- Demonstrates effective communication skills and an ability to communicate at all levels
Property Underwriter - 100% remote employer: WH Finance Ltd
Contact Detail:
WH Finance Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Property Underwriter - 100% remote
✨Tip Number 1
Familiarise yourself with the latest trends in property underwriting and insurance regulations. This knowledge will not only help you during interviews but also demonstrate your commitment to staying updated in a rapidly evolving industry.
✨Tip Number 2
Network with professionals in the insurance sector, especially those working in property underwriting. Engaging with industry peers can provide valuable insights and potentially lead to referrals that could enhance your chances of landing the job.
✨Tip Number 3
Prepare to discuss specific examples from your past experience that showcase your skills in risk assessment and underwriting. Being able to articulate your successes and challenges will set you apart from other candidates.
✨Tip Number 4
Demonstrate your understanding of the company's business model and how you can contribute to their growth. Tailoring your conversation to align with their goals will show that you're not just looking for any job, but are genuinely interested in being part of their team.
We think you need these skills to ace Property Underwriter - 100% remote
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in Property Underwriting, especially within an MGA or insurance company. Use specific examples that demonstrate your skills in risk assessment and underwriting practices relevant to the role.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also expresses your enthusiasm for the role. Mention how your background aligns with the company's goals and the specific responsibilities of the Property Underwriter position.
Showcase Relevant Skills: In your application, emphasise your understanding of market rates, contract certainty, and compliance with industry regulations. Highlight any experience you have with pricing and analysis of new and renewal binding authorities.
Proofread Your Application: Before submitting, carefully proofread your application for any spelling or grammatical errors. A polished application reflects your attention to detail, which is crucial in underwriting roles.
How to prepare for a job interview at WH Finance Ltd
✨Know Your Underwriting Fundamentals
Brush up on your knowledge of property underwriting principles, especially in relation to residential and commercial properties. Be prepared to discuss how you evaluate risks and set rates, as this will be crucial for the role.
✨Familiarise Yourself with Industry Trends
Stay updated on the latest trends and regulations in the insurance industry. Being able to discuss current market conditions and how they affect underwriting decisions will demonstrate your commitment and expertise.
✨Prepare Examples of Past Successes
Think of specific examples from your previous roles where you successfully managed underwriting processes or improved loss ratios. Sharing these stories can highlight your experience and problem-solving skills.
✨Showcase Your Communication Skills
Effective communication is key in this role, especially when working with internal teams and external partners. Be ready to explain complex concepts clearly and demonstrate how you've built relationships in past positions.
