We are currently recruiting for a Construction/Property bias Underwriter to join a busy team within the City of London.
Ideally have Property or Knowledge of Construction Underwriting
Dynamic team environment
Close to London Liverpool Street and Fenchurch Street stations
Fantastic benefits and career prospects
The purpose of the role is to provide support to the wider Underwriting team contributing to the effective running of the team and in the delivery of first class service to our customers, leading towards supporting delivery of the Firm's Business Plan.
- Contribute towards the acquisition of profitable New Business and the retention of profitable Renewal Business.
- Data entry to front and back-end computer systems for new business enquiries, mid-term adjustments and renewals.
- Production of documentation including quotations/non-binding indications (NBIs), certificates of insurance and endorsements.
- Check quotations/NBIs, certificates, endorsements and broker slips for accuracy.
- Invoicing original, additional and return premiums.
- Preparation and completion of electronic policy records.
- Prepare and maintain records of all discussions and negotiations with clients following meetings and telephone calls, ensuring a complete audit trail at all times.
- Ensuring the underwriters have completed their underwriting notes (known as front sheets/peer review) and that these are maintained and are kept up to date.
- Utilise the electronic document management system for all enquiries, quotes, bound and renewing business in order to ensure a complete audit trail at all times.
- Working in conjunction with the accounts team for premium related queries and assisting in chasing and obtaining outstanding client payments.
- Respond to, and handle, new business, mid-term adjustment and renewal enquiries received on a face to face basis, via the telephone, by email or by fax, all in a timely and efficient manner.
- Ensuring renewal information is obtained from the client in good time, the loss ratios are produced and ratified and all information is provided to the Underwriter responsible for the account.
- Renewal terms prepared and sent to client as directed by the Underwriter responsible for the account.
- Proactively build mutually beneficial business relationships with our broker partners and key Insurer relations.
- Alongside sales, produce and maintain a robust prospect and pipeline database which delivers results.
- Identify key brokers within our panel for Business progression. Conversely suggest /identify any brokers who are not supporting the firm.
- Market presentations and secure best possible terms for sub-brokers, with full material disclosure.
- Negotiate and obtains the most appropriate carrier, coverage and price for sub-brokers requirements.
- Resolves subjectivities and warranties in accordance with sub-broker/insurer instructions to secure underwriters' participation
- Produce and complete the required MRC slips
- Negotiates agreement to post-placement changes, e.g. by contract endorsement.
- Comply with FCA and internal procedures at all times. Produce clear, concise and up-to-date file notes and records.
- Clear responsibility (and ownership) for service and productivity, making sure we are always looking to streamline approaches in pursuit of ultimate customer satisfaction. This includes the correct and timely completion of all business and productivity reports.
- Provide outstanding underwriting expertise and service to brokers ensuring that business objectives and company standards are met.
- Underwrite, negotiate and secure business within authority limits, ensuring first class customer service at all times.
- Implement agreed technical standards, controls, practices, procedures through effective audits.
- Contribute toward the team to continually develop the Firm's Underwriting approach through best practice.
Duties and Obligations:
- To support the firm’s Board and Approved Persons with Significant Influence Functions in ensuring a culture of compliance and competency at all levels within the organisation. To report any matters of concern through the appropriate channels.
- To understand and observe at all times the firm’s Code of Conduct and the Employee Handbook and associated policies, including - but not limited to - Equal Opportunities, Data Protection, and Anti-Bribery policies.
- To actively contribute towards and participate in the firm’s Annual Performance Appraisal process. Identify and agree goals and objectives for department and personal development on a yearly basis, and participate in the quarterly review process.
- Undertake proactive 'Continuous Professional Development’ activity to maintain the requisite competency levels required by the regulator. Ensure knowledge, skills and abilities remain appropriate to prevailing professional standards.
- To understand and observe at all times the firm’s Health & Safety policy and procedures. To cooperate and participate with other team members in ensuring that Health & Safety standards are met and maintained.
To adhere to internal departmental and divisional processes and procedures
Experience / Requirements:
- At least 2 years’ experience within a customer facing or Underwriting area
- Broad knowledge of the insurance industry and associated products expected at this level of the company’s structure.
- Strong understanding of Underwriting and Sales principles.
- Able to understand, interpret and explain the Firm's underwriting strategy
- FCA and UK General Insurance market requirements.
- Educated to Good standards ( i.e. A Level or equivalent to include English and Maths) or enough experience in a previous role to demonstrate suitable skills.
- CII qualified Cert Level
Please submit your CV for our Clients attention or contact Su Partridge to discuss further, all applications are treated in the strictest confidence.
The Recruiter Insurance Specialists are acting as a Recruitment Agency