Underwriting Manager

2 months ago

Redhill, Surrey, United Kingdom Travelers Full time
About the Role

We are seeking an experienced Underwriting Manager to join our team at Travelers. As an Underwriting Manager, you will be responsible for managing the SME portfolio, working closely with the VP, SME, and partners to provide insurance solutions to customers.

Key Responsibilities
  • Implement and monitor underwriting appetite and rules for new and existing products in collaboration with US/CAN Select, Europe portfolio managers, and Europe UW office.
  • Work with product development on coverage analysis for new or optimized products to ensure market relevance and alignment with our underwriting strategy.
  • Ensure the appropriate use of input data, third-party data, and SoF to select and manage risks in a eTrade model that aligns with our target risk selection strategy.
  • Provide UW guidance for referral handling within the team, including what information to collect and risk management approaches to use.
  • Identify and take corrective action based on portfolio analysis across SME, ensuring rules are working as expected and addressing knowledge or behavioral gaps through communication, coaching, and training.
  • Manage the profitability, growth, and retention across the portfolio, ensuring underwriting quality is maintained.
  • Underwrite and skillfully negotiate risks to minimize risk and maximize profitability, including Mid Term Adjustments (MTAs).
  • Proactively manage the SME portfolio, ensuring key performance indicators are consistently achieved and targeting new business and retention.
  • Identify and capture opportunities to write additional lines of business using knowledge of products, risk characteristics, and appetite.
  • Proactively utilize various technology platforms to quote and bind E-Trade risk efficiently.
  • Prepare, lead, and present Underwriting Reviews for individual policies or portfolios/schemes and manage action points.
  • Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to identify cross-selling opportunities.
  • Foster and maintain relationships with brokers to ensure they have an appropriate understanding of BI SME products and the BI SME goals and objectives.
  • Develop and roll out UW training material to support SME product trading as a result of new products, product optimization, UW strategies developed with the product portfolio owner and national UW officers.
  • Support and collaboration across SME, providing coaching and guidance, including referrals.
Requirements
  • Expert knowledge of products, the regulatory environment, and the local insurance market.
  • Ability to execute strategic direction across assigned portfolio in partnership with leadership.
  • Strong critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyze available information to make decisions in alignment with our risk appetite.
  • Excellent communication skills with the ability to successfully negotiate in difficult situations with brokers.
  • Ability to work with and lead people from different backgrounds, experiences, cultures, races, etc., and views those differences as assets to be leveraged to accomplish business goals and objectives.
  • Experience coaching and mentoring others.
  • Review competitor press releases and industry trade press for helpful insights, linking key themes together and identifying applicability to team strategies.
  • Participate in and/or lead projects that involve complex analysis and implementation of non-complex, routine business and regulatory changes relating to the enhancement, maintenance, or introduction of new products.
What We Offer
  • Private Medical Insurance: On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
  • Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan. Additionally, if you decide to contribute to the plan, you will receive an increased company contribution.
  • Holiday Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
  • Wellness Programme: The Travelers wellness programme is comprised of tools, discounts, and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.
Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

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