Operations Associate

3 weeks ago

Redhill, United Kingdom The Travelers Companies, Inc. Full time

- Who Are We?


- Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

- Job Category
Operations

- Target Openings
1


- What Is the Opportunity?


- Works with the Shared Services Team Leader to: Provide Underwriting with information to enable the delivery of New Business and Renewal terms for all Business Lines (where applicable). Deliver back office service to Brokers and Insured's around policy fulfilment and service enquiries (including Mid Term Adjustments). Input underwriting and account data to the various systems supporting the Business Units. Resolve problems for and provide superior service to internal and external customers in line with Operations and Business areas service standards. Support Underwriting in the execution of their Business Plans by providing efficient operational support.

What Will You Do?
- Actively participates and supports Underwriters in the renewal, new business, mid-term alteration activities (i.e., identify/gather relevant account information to quote and / or bind the policy, create underwriting exhibits, etc.) that support underwriting decisions, consistent with business unit growth and retention goals.
- Responsible for all relevant primary tasks aligned to (but not limited to) the following transactions: Set-Up Quote, Analyse Submission, Analyse Reports, Complete Hold Cover, Policy Issuance (New & Renewals), Renewal List, Renewal Package, Cancellations/Lapses/MTA/Slip recording/Null declarations/Notice of Cancellations.
- Thoroughly review incoming requests, policy issuance and slip information for completeness, compliance with sales, marketing, underwriting and regulatory guidelines. Record and refer those that are outside the guidelines to the underwriting department for approval.
- Perform the data cleansing, importation and geo-coding of location level aggregate data, plus the data input of additional risk data required by Open Xposure (where necessary to enable RMS modelling). Perform as required the necessary data checks to ensure accuracy of aggregate data.
- Prepares underwriting/pricing exhibits (including exposure information, rating, claims analysis, expense models, updated account information, MapFlow.).
- Manages account documentation (i.e., quotations, actuarial pricing models, reinsurance contracts, endorsements, cancellations, etc.).
- Ensures accurate and timely servicing and debiting of accounts and assists credit control with premium collection as required.
- Provide the Claim department with account coverage information as requested.
- Supports Underwriters in delivering New Business by providing support and information on the submission as well as supporting tasks through Analysing Reports to going on cover.
- Provides underwriting support and other related services as necessary (e.g., input account information into system).
- Produce exception reports and act on them in a timely manner to ensure accurate risk details are maintained on the Underwriting System including premium estimates, exposures, reinsurance cessions and regulatory coding.
- Scan all submission information onto the document repository within the designated timeframe.
- Ensure that all relevant submission information is included for the peer review, risk entry and data checking review process within the designated timeframe. Underwriting information submitted electronically to be indexed and updated as appropriate within specified timeframes.
- process the Underwriting Signing Message premium corrections in a timely and efficient manner and liaise with underwriters and brokers as required.
- Maintain, action and process all electronic endorsements within the agreed service level agreement and ensure all documentation is indexed to the relevant company document repository.
- Each individual has responsibility for:

- Acting in accordance with Travelers Companies' Code of Business Conduct and Ethics, Business Excellence Policy and all HRpolicies and procedures.
- Delivering high quality service to brokers and customers in line with our service standards.
- Complying with all legal, insurance, regulatory, Lloyd's and Sarbanes Oxley rules and guidelines.
- Acting at all time in compliance with the Treating Customers Fairly outcomes.
- Working as a team with colleagues within the Company and the Enterprise.
- Developing strong relationships with our key supporting brokers and customers and all other key external stakeholders.
- Adhering to the Company's policies and procedures.
- Keeping adequate records of all transactions undertaken with brokers, customers, and all other parties.
- Continually looking for improvement both from a personal and business perspective.

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