Home Underwriter

3 weeks ago

London, United Kingdom Munich Re Speciality Group Ltd Full time

**Home Underwriter **(M/F/d)****:
Are you a specialist Home Underwriter, keen to join a best in class team with a dynamic new business feel?

MRSI UK are searching for a phenomenal colleague to join their team

**Location**
London, United Kingdom

The primary objectives of this role are to be a risk underwriter and point of contact for a large personal lines account made up of household and contents insurance. You'll be the primary partner for this account, which focuses on servicing a single product which is white labelled and is a well-known household brand.

A "day in the life of" would be for you to act as a referral point for non standard business or business that does not meet our acceptability criteria as well as making decisions on coverage.

You will collaborate with our partner to build sustainable, profitable book of business and liaise with internal and external contributors to lead the portfolio, undertake reviews of MI, Review documents, wordings, referral rules, and question sets with a view to improving the product offering.

You will join forces with both the coverholder, capacity provider and internal pricing teams and management to run the binder in an effective manner.

You will be required to have a good knowledge of consumer business and the FCA requirements around TCF, vulnerable customers and dual pricing (among other topics).

Your job

**Specific Responsibilities**
- Underwriting new business, MTA’s and renewals in line with company underwriting authority.
- Review of underwriting referrals
- Working on additional projects to help the enable the continued development of the proposition
- New business, renewal and claims referral point for this household binder
- Work closely with internal colleagues and external parties in assisting with the development of new products, including; wordings, documents, UW appetite, system logic, etc.
- Reviewing of internal KPI’s (NLR, conversion/retention, ILF) to identify positive/negative trends and working with the right people to implement the required changes in order to continually maintain profitability and adherence to the company risk appetite.
- Supervising developments in the insurance market or other industries and identifying innovative technologies which could substantially improve the customer journey.
- Other ad-hoc tasks as required by the business

This role has a direct impact on our customers’ satisfaction and how they perceive the quality of our products and services You must therefore adhere to the following principles:

- Work closely with all areas of the business and external partners to help deliver the best outcomes for customers / policyholders.
- Understand all appropriate lines of escalation, working closely with and understanding the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Compliance, Delegated Underwriting Authority Management team, Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

You are required to comply with the PRA and FCA conduct rules:

- Acting with honesty and integrity at all times
- Acting at all times with due care, skill and diligence
- Being open and honest with the FCA, the Prudential Regulation Authority (PRA) and all UK regulators at all times
- Always paying due regard to the interests of customers and always treat them honestly and fairly
- Observing proper standards of market conduct at all times

**Profile**:
**Knowledge required**
- FCA principle-based regulation and relevant insurance law
- Lloyds Minimum Standards
- A good level of underwriting experience in Personal Lines insurance, ideally property and motor led.
- Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm;
- Build and maintain market awareness.

About us

MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Munich Re Specialty Insurance (UK) Limited (MRSI UK), Roanoke International Brokers Limited (RIBL) and Munich Re Digital Partners Limited (DP).

As part of Munich Re Specialty Group (MRSG), Munich Re Specialty Insurance (UK) Ltd (MRSI UK) brings together the long-standing and market-leading underwriting and claims expertise of NMU in the UK marine & specialty insurance markets with GrovesJohnWestrup, our UK Private Client proposition for insurance brokers and other intermediaries with clients who have unique and complex risks, as well as GJW Direct, UK‘s Specialist Direct Boat insurer.

Additionally, MRSI UK is affiliated with Munich Re Digital Partners Ltd (MRDP) that provides digital distributors a comprehensive go-to-market partnership in the UK and the EU, and Munich Re Risk Solutions Ireland Ltd (MRRSI) offering marine & specialty insurance solutions in Ireland and the EU.

As well as operating in the Lloyd’s of London market, we conduct our business via a

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