Scheme Underwriter

4 weeks ago

London, United Kingdom China Taiping Insurance (UK) Co Ltd Full time
Job Description

Purpose of the role:

This role is responsible for managing our delegated authority schemes to maximise their potential. You thrive when taking the initiative, bringing both internal and external stakeholders together with a partnership-based approach to create mutual success.

Key responsibilities:

  • Proactively develop strong relationships with a designated panel of brokers, taking full ownership for the generation of profitable business
  • Collaborate with partner brokers and across Underwriting and Operations to routinely review scheme performance, identify opportunities to grow, improve the proposition, improve profitability and find efficiencies
  • Identifying poorly performing accounts and investigating reasons for high loss ratio. Discussing actions with Senior Underwriters and implementing actions to improve scheme performance
  • Contribute in the planning and setting of department key tasks, including the budget and KPIs, to achieve the strategic development plan
  • Ensure accurate and timely servicing and debiting of accounts and assists credit control with premium collection as required
  • Contribute to the development of junior members in the team by supervising and acting as a technical underwriting referral point
  • Perform regular analysis, report and other management information of your accounts for internal and external meetings
  • Attend binder renewal meetings, prepare renewal proposal and present to the Underwriting Committee
  • Participate in annual coverholder audit, write up audit report and follow up with the completion of recommendations
  • Helping to review and update various policy wordings, agency contracts, binding authority agreements, or other business documentation if required
  • Provide ongoing feedback to Head of Business and Underwriting Manager on competitors, market condition and relevant information to help improve our product, pricing and services
  • Assist Underwriting Management with reviewing and updating underwriting guide, rating structures, or other business terms and endorsements for the assigned accounts if required
  • Work with Underwriting and Compliance and assist to implement company and regulatory requirements for coverholders
  • Draft the run-off plan and ensure its implementation for terminated schemes
  • Implement other tasks assigned by the company

Requirements:

Essential

  • You'll have 5+ years experiences of delegated authority account management, ideally from an insurance carrier or a mainstream MGA
  • Outstanding communication and interpersonal skills combined with a proven track record of relationship management
  • Be able to communicate effectively at all levels of engagement, both internally and externally
  • Strong negotiating skills and abilities to empathise and influence
  • Ability to work independently and as part of a team while meeting set goals
  • Good time management and organisation skills to meet deadlines
  • Knowledge of the UK insurance market, and relevant regulatory practices and legislations in the industry
  • Knowledge and experience of underwriting insurance risks of commercial and/or personal lines
  • Ability to analyse data and write reports
  • MS Office skills such as Word, Excel and PPT, etc.

Preferred

  • Education to degree level. CII qualification or equivalent preferable
  • Advanced Excel skills
  • Presentation skills

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