Senior Underwriter

2 months ago

London, Greater London, United Kingdom Allied World Assurance Company Holdings, Ltd Full time

Description of the role:


This position is responsible for underwriting a diverse book of business, employing the methods necessary to meet projected profitability, GWP, and expense goals, management and growth of the overall portfolio of business within the appropriate underwriting discipline/guidelines, marketing and servicing of existing and potential insured's.

Job Duties and Responsibilities:

  • General underwriting functions including underwriting submission review, pricing analysis, setting of terms and conditions.
  • Authorising of quotes and invoices in accordance with company guidelines.
  • Responsible for timely and correct issuance of bound polices. Crafting of wordings and endorsements for authorisation by legal. Providing direction to the Junior Underwriters and/or Underwriting Assistant in the timely processing of Policy/Endorsement wordings.
  • Perform extensive account analysis according to underwriting guidelines which to include thorough review of underwriting application/submission, research, reviewing requested terms and conditions including underlying policy forms when issuing on a follow-form basis, liaising with other Company departments to establish full understanding of risk exposures and completion of underwriting worksheet.
  • Active role in the development of business in Global Markets, exploring opportunities and marketing within the London Market and abroad as required.
  • Accountable for the maintenance of underwriting files in an orderly and consistent manner and in accordance with the underwriting guidelines.
  • Liaise with actuarial support to develop premium benchmarking and pricing models, with development of account pricing/recommendations
  • Liaise with Claims Department on any specific claim activity and overall market claim concerns which could potentially affect profitability
  • Stay current with respect to major market and industry issues and developments
  • Relationship management - external, via attendance at key, relevant client/broker meetings, and other social outings as applicable.
  • Corresponding with brokers with respect to outstanding information pursuant to binding.
  • Ensuring receipt of and review of outstanding information (including underlying/followed policies) to ensure consistency with the terms and conditions agreed at binding.
  • Delegation (and supervision) of work to Underwriting Operations Assistants or Assistant Underwriters as deemed appropriate; responsible for the professional development and training of assigned team members.
  • Supporting the departmental Vice President in setting strategic goals, setting budgets and producing regular Management Information
  • Other duties as may be assigned
Qualifications

Person Specification;

  • Ideally, graduate-level individual with professional insurance qualification, ACII, already obtained.
  • Engineering degree (civil or mechanical engineer) would be preferable.
  • Required 5+ years demonstrable experience underwriting major international construction projects , with expertise and in-depth working knowledge of standard market wordings and endorsements.
  • Must be highly articulate, with exceptional communication and interpersonal skills - required for significant liaison with clients and brokers including delivering effective presentations and building strong working relationships
  • Strong marketing and business development capability - commercial acumen; ability to influence and negotiate to various levels of seniority, internally and externally
  • Highly computer literate, with an advanced level proficiency using an underwriting system. Knowledge of Genius and Open Box is a distinct advantage.
  • Methodical approach to work, strong organization skills; capable of dealing with tight reporting deadlines and conflicting priorities; attention to detail.
  • Overall, team player with collaborative outlook - acting as a role model for more junior members of the team.

Language skills:
fluent in English. Other languages would be beneficial.

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