Underwriter
3 weeks ago
The Hartford are seeking a PI Underwriter within the Financial Lines London Market operation. The role will have both personal and collective responsibility for supporting the growth and profitability of the PI portfolio. The position involves the underwriting of new renewal business in line with PI appetites, as well as developing and maintaining relationships with London Brokers and international Cover-Holders.
Job Responsibilities & Competence
- Underwrite new and renewal accounts to meet planned underwriting results, through proactive account review, analysis of underwriting trends and improvement plans to maintain profitability.
- Negotiate account participation, pricing and terms and conditions with brokers.
- Underwrite in line with Professional Indemnity team’s framework - e.g. Underwriting Authorities, Underwriting Guidelines, Rules and Principles.
- Support development and execution of the Professional Indemnity team’s underwriting and marketing strategies.
- Work closely with the Head of PI to drive development opportunities, including devising strategies to achieve further balanced penetration of the PI market.
- Contribute to the identification and development of new products and new geographic territories for expansion of the PI book.
- Proactively support acquisition of new business and retention of existing business through both market and one-on-one meetings with our Insureds / potential Insureds.
- Develop and maintain strong relationships with key Brokers, Insured’s and Cover-Holders. This is to include both UK and overseas travel on behalf of Professional Indemnity team.
- Supporting the Head of PI in coaching, training and developing Junior Underwriters to continually improve their technical and trading capability.
- To keep abreast of development of claims within the PI book and to liaise with the claims team as necessary to ensure appropriate settlement of claims.
- To contribute, as required, to the quarterly and annual reporting of Underwriting results.
Qualifications & Capabilities
- Reasonable standard of education.
- Willingness to continue to develop knowledge of Insurance and related issues through form and informal learning.
- Ability to prioritise and organise workload and meeting deadlines and that of the team.
- Ability to develop and sustain relationships with internal and external customers.
- Knowledge of general insurance and its underlying principles.
- Knowledge of FCA / PRA rules and guidelines relating to commercial and/or private customers.
Experience
- Relevant underwriting / broking experience within the PI marketplace.
- Sound understanding of insurance market and specifically commercial PI
- Proven experience in decision making on a wide range of technical underwriting scenarios within a professional indemnity environment.
- Strong level of technical underwriting expertise in a professional indemnity environment.
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