Experienced Underwriter for General Liability

3 weeks ago

London, Greater London, United Kingdom Starr Insurance Companies Full time

Company Overview:

Starr Insurance Companies stands as a prominent entity in the insurance and investment sector, delivering commercial property and casualty insurance solutions, including travel and accident coverage, to a diverse range of businesses across the globe.

Position Summary:

The primary objective of this role is to underwrite profitable General Liability accounts in alignment with the established underwriting strategy. This involves utilizing professional judgment to meet target premium revenue, ensuring a favorable return on premium, and fostering business growth while adhering to compliance and regulatory standards. The position also encompasses managing underwriting risk exposures through aggregate limits and reinsurance, alongside overseeing the daily operations of the General Liability team, which includes staff supervision and performance management.

Key Responsibilities:

  • Thoroughly assess risks and seek additional clarity when necessary.
  • Underwrite profitable accounts in accordance with business objectives.
  • Comply with all Starr underwriting standards as detailed in the Underwriting Manual.
  • Secure approvals for any business exceeding established authority levels or deviating from rating guidelines.
  • Follow rating tools and guidelines diligently.
  • Ensure that all underwriting documentation, both physical and digital, is accurate, comprehensive, and meets industry standards.
  • Confirm that policy wordings and clauses are properly referenced and agreed upon.
  • Ensure all accounts are contractually certain at the time of binding.
  • Cultivate relationships with brokers and clients to maximize business opportunities, including organizing and attending meetings and presentations.
  • Aim to enhance market share by promoting technical expertise to external parties.
  • Utilize client and company insights to identify and leverage cross-selling opportunities.
  • Conduct Quality Assurance checks within two working days of binding or inception to verify the accuracy of underwriting data.
  • Perform Peer Reviews to evaluate underwriting rationale, terms, conditions, and pricing against company guidelines.
  • Reconcile and report all premiums due versus received to manage credit control effectively.
  • Continuously enhance rating tools to encompass a broader range of exposures.
  • Monitor premiums against budget to ensure alignment with business goals.
  • Ensure portfolio performance aligns with Starr's Underwriting Business Plan.
  • Oversee that retained business within the portfolio continues to provide a competitive advantage.
  • Assist in preparing Realistic Disaster Scenarios (RDS) returns to evaluate the effectiveness of reinsurance coverage.
  • Review Internal Audits and Expert Review Reports to identify and implement improvements.
  • Manage aggregations of joint venture interests effectively.
  • Identify potential future business opportunities.
  • Support the Chief Underwriting Officer (CUO) in developing a General Liability business strategy for approval.
  • Aid the CUO in formulating a clear underwriting strategy.
  • Implement strategies in accordance with the agreed business plan.
  • Determine appropriate underwriting authority levels for each underwriter.
  • Provide essential data to the CUO to inform reinsurance strategies.
  • Participate in marketing meetings and presentations with reinsurers.
  • Monitor reinsurance coverage against the business plan in collaboration with the CUO.
  • Together with the CUO, ensure adequate resources and capabilities to achieve business objectives.
  • Assist in selecting and recruiting suitable candidates in partnership with the CUO and Human Resources.
  • Develop a comprehensive Onboarding Plan for all new or promoted team members.
  • Identify training needs for the team and individuals, collaborating with Human Resources to implement development plans.
  • Follow company procedures for managing and documenting individual and team performance and development.
  • Ensure that team members' Role Profiles are reviewed at least annually or upon role changes.
  • Provide technical coaching to team members to enhance their skills and career growth.
  • Ensure compliance with Group and Company policies by all staff.
  • Confirm that all accounts are contractually certain.
  • Ensure immediate reporting of any suspicions of financial crime to the appropriate officer.
  • Uphold the Company's standards for Treating Customers Fairly.
  • Manage potential Conflicts of Interest to maintain the company's integrity.
  • Oversee the prompt reporting of complaints to Compliance.

Required Experience:

  • Familiarity with Lloyd's and London Market processing for premiums and claims.
  • Understanding of Lloyd's Franchise Board standards.
  • Knowledge of Financial Conduct Authority and Prudential Regulation Authority frameworks.
  • Advanced expertise in specific classes of business.
  • Proficiency in market wordings and clauses.
  • Knowledge of reinsurance practices.
  • Current awareness of claims activity to inform underwriting decisions.
  • Strong understanding of the global insurance and reinsurance landscape.
  • Familiarity with current business portfolios and risk appetites.
  • Knowledge of authority levels and authorization processes.
  • Understanding of underwriting manuals and pricing/rating tools.
  • Proficiency in slip and file construction.
  • Familiarity with Starr's standards for clauses.

Essential Skills:

  • Strong analytical and problem-solving abilities.
  • Effective negotiation, judgment, and decision-making skills.
  • Advanced numeracy skills.
  • Proficient business writing and presentation skills.
  • Excellent written and verbal communication skills.
  • Technical coaching capabilities.
  • Strong team and individual management skills.
  • Business development acumen.
  • Proficient report writing skills.

Technical Proficiencies:

  • Familiarity with Eclipse.
  • Proficiency in Salesforce.
  • Competence in MS Office applications – Excel, Access, Word, and Outlook.

Starr is committed to equal opportunity employment, considering all qualified applicants regardless of gender identity, ethnic origin, nationality, religion, age, sexual orientation, disability status, or any other protected characteristic. We prioritize merit-based recruitment and development, striving to create an inclusive environment for all employees. We provide exceptional training and development opportunities, aiming to cultivate talent and maximize individual potential.

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