Commercial Insurance Underwriter
4 weeks ago
We are seeking an experienced Commercial Insurance Underwriter to join our team at China Taiping Insurance (UK) Co. Ltd. As a key member of our underwriting team, you will be responsible for managing our delegated authority schemes to maximise their potential.
Key Responsibilities:- Develop strong relationships with a designated panel of brokers to generate profitable business.
- Collaborate with partner brokers and across Underwriting and Operations to review scheme performance, identify opportunities to grow, and improve profitability.
- Identify poorly performing accounts and investigate reasons for high loss ratio, discussing actions with Senior Underwriters and implementing improvements.
- Contribute to the planning and setting of department key tasks, including budget and KPIs, to achieve the strategic development plan.
- Ensure accurate and timely servicing and debiting of accounts, and assist 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 accounts for internal and external meetings.
- Attend binder renewal meetings, prepare renewal proposals, and present to the Underwriting Committee.
- Participate in annual coverholder audits, write up audit reports, and follow up with the completion of recommendations.
- Help review and update various policy wordings, agency contracts, binding authority agreements, or other business documentation as required.
- Provide ongoing feedback to the Head of Business and Underwriting Manager on competitors, market conditions, and relevant information to improve our product, pricing, and services.
- Assist Underwriting Management with reviewing and updating underwriting guides, rating structures, or other business terms and endorsements for assigned accounts as required.
- Work with Underwriting and Compliance 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.
- 5+ years of experience in 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.
- Ability to communicate effectively at all levels of engagement, both internally and externally.
- Strong negotiating skills and ability 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.
- Education to degree level. CII qualification or equivalent preferable.
- Advanced Excel skills.
- Presentation skills.
This is a full-time, permanent position with a hybrid remote schedule in London.
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