Risk Assessment Specialist

1 month ago

London, Greater London, United Kingdom Pen Underwriting Full time
About the Role

We are seeking a highly skilled Underwriter to join our team at Pen Underwriting. As an Underwriter, you will be responsible for underwriting new and renewal business within Casualty, assessing risks, determining appropriate pricing, and ensuring compliance with underwriting guidelines. This role requires strong analytical and communication skills, as you will work closely with brokers, clients, and other stakeholders to deliver tailored insurance solutions.



Key Responsibilities


  • Underwrite and assess risk adhering to the underwriting philosophy, rules and guidelines, use of rating tools and pricing methodologies and documentation standards to maximise business growth and profitability.
  • Actively participates in seeking new business opportunities within existing relationships and within the wider insurance market.
  • Engaging with brokers in servicing and renewal of the existing book that supports underwriting strategy, consistent with business growth and target loss ratio.
  • Taking underwriting referrals, providing expert underwriting guidance, coaching and mentoring to less experienced underwriters - helping them build product specific knowledge and sales skills amongst underwriters to ensure the profitability and sustainability of the portfolio.
  • Develop and maintain strong broker relationships across the regions and contributing to the team's goal of writing a sustainable portfolio of Casualty business
  • Develop and leverage productive relationship within other departments to Collaborate with cross-functional teams to optimise processes and enhance overall efficiency.
  • Actively participate in regularly scheduled strategy, Sales and underwriting meetings.
  • Analyse market trends, competitor activities, and regulatory changes to identify opportunities and threats.
  • Perform other duties and projects as assigned.


About You


  • University degree preferred.
  • Chartered Insurance Institute (CII) Certification preferred.
  • Minimum 3 years' experience of underwriting within Casualty
  • Working knowledge of the local insurance marketplace. Demonstrates an ability and desire to learn about the enterprise and business unit critical business issues and financial drivers.
  • General knowledge of organisational and regulatory rules, policies and procedures and effectively employs that knowledge in day-to-day work activities.
  • Demonstrates basic ability in the areas of customer focus and positive broker interaction.
  • Basic analytical thinking/financial acumen. Identifies current or future problems or opportunities, analyses, synthesises and compares information to understand issues, identifies cause/effect relationships, and explores alternatives to support sound decision making.


Benefits

At Pen Underwriting, we offer a competitive salary, great teams, and exciting career opportunities. Our benefits package includes a minimum of 25 days holiday, a defined contribution pension scheme, life insurance, income protection, and health cash plan or private medical insurance. We also offer three fully paid volunteering days per year, employee stock purchase plan, share incentive plan, critical illness cover, discounted gym membership, season ticket loan, access to a discounted voucher portal, and emergency back-up family care.



Our Approach to Inclusion and Diversity

Gallagher is committed to inclusion and diversity and believes that all persons are entitled to equal employment opportunity. We value the diversity of our employees and strive to create an inclusive work environment that allows everyone to thrive. We welcome applications from diverse candidates and are committed to making reasonable adjustments to our recruitment process to ensure that it is accessible and inclusive for all.

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