Underwriting Specialist

1 month ago

Birmingham, Birmingham, United Kingdom Munich Re Specialty Group Full time
Job Summary

We are seeking an experienced Underwriting Specialist to join our team at Munich Re Specialty Group. As an Underwriting Specialist, you will be responsible for underwriting construction and engineering risks, exercising judgment to make effective decisions in all underwriting matters, and remaining aware of your own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the Underwriting business plan.

Key Responsibilities
  • Review new business presentations, renewal presentations, mid-term adjustments, and/or other information/literature, exercising your own judgment, based on knowledge and experience, acting within your own limits of authority.
  • Review and administer existing contracts and make amendments in line with the firm's underwriting philosophy.
  • Work within your team, occasionally visiting intermediaries/customers, undertaking end-to-end handling of straightforward cases for the allocated portfolio to deliver the agreed joint business development plans in line with the Company's overall trading strategy.
  • Make effective on-site decisions, within delegated authority, for intermediaries so that work is completed efficiently.
  • Work with the Engineering and Underwriting team, develop strong relationships with intermediaries, balancing intermediary needs with the Company's trading objectives in a way that will deliver profitable and balanced trading growth.
  • Plan and process your own work in a way that will assist the team to meet its customer service targets, including credit control targets.
  • Work with the Sales & Development Manager and Development Underwriter(s) assist in maintaining accurate records for intermediaries to allow effective communication and interrogation for Marketing Initiatives.
  • Identify, define, and close business opportunities, seeking the input of other members of staff where appropriate, to ensure that business proposals are dealt with swiftly and effectively, securing business for the Company.
  • Act as a reference point on all issues for the intermediaries or less experienced staff members, so that a high level of customer service is delivered.
  • Assist in maintaining a balanced and high-quality portfolio, optimizing the use of information gathered.
  • Undertake other duties as directed within the level of the job function.
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers/policyholders.
  • Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo, and Board for Conduct Risk.
  • You are required to comply with the PRA and FCA conduct rules.
Requirements
  • Build and maintain strong internal relationships with other team members, the Claims Department, the Sales and Development Team, the Syndicate, and the Directors.
  • Build and maintain strong external relationships with a range of contacts within the allocated intermediaries and customers.
  • Appropriate level of underwriting knowledge.
  • Ability to interpret and effectively use management information.
  • Ability and willingness to learn and understand established systems and processes.
  • Good interpersonal and communication skills.
  • Passionate about excellent customer service.
  • Ability to prioritize your own work and manage workload.
About Us

At Munich Re Specialty Group, you'll find the flexibility, development, and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance, and more.

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