Underwriting Operations Manager

3 days ago

London, Greater London, United Kingdom Coverys Full time £40,000 - £80,000 per year

The
Underwriting Operations Manager
is responsible for the effective oversight and development of underwriting operations for Coverys International Insurance Company. This includes delegated underwriting management, bordereaux processing, underwriting controls, product oversight and outwards RI processing.

Responsibilities
Delegated Underwriting

  • Effectively oversee delegated underwriting and claims operations
  • Manage due diligence and onboarding for new MGAs, binding authorities and TPAs
  • Manage annual MGA due diligence
  • Manage MGA/ TPA audit cycle and outsource monitoring in line with CBI requirements
  • Deliver and develop accurate MI packs, KPI dashboards, and portfolio performance reports to senior management

Bordereaux Processing

  • Ensure the timely and accurate processing of bordereaux within agreed monthly SLAs for both CIIC and Coverys Limited
  • Provide finance with relevant premium data for month end process
  • Oversee outsourced service provider
  • Identify and implement improvements on the quality, timeliness and accuracy
  • Act as a point of escalation for service provider to resolve issues
  • Provide EPI tracking and provision of premium data to finance
  • Ensure data integrity across Bordereaux (BDX) lifecycle, cash allocation, and mapping processes
  • Deliver accurate MI packs, KPI dashboards, and portfolio performance reports to senior management

Underwriting Operations

  • Support business planning and re-forecasting with data, performance metrics and analysis
  • Develop and implement underwriting control systems, procedures and reporting
  • Work with the business and the compliance team to ensure effective oversight of Conduct Risk and Product Oversight requirements
  • Manage and enhance IT systems and reporting tools
  • Support internal and external audits, ensuring adherence to underwriting risk and control frameworks
  • Collaborate with Finance, Actuarial, Risk, and Operations teams to align reporting and strategic goals

Outwards Reinsurance processing

  • Production of outwards reinsurance bordereaux data in a timely and accurate manner

Operating Model

  • Support the continuous development of the company operating model
  • Drive process improvements, automation initiatives, and digital transformation projects
  • Work with IT to develop and implement enhancements to system functionality
  • Provide administrative and operational support as required.
  • Support the analysis of new territories and opportunities

Experience, Knowledge & Skills

  • Minimum 5-10 years experience in underwriting operations
  • Strong understanding and experience in MGA due diligence and audit management
  • Expertise in Bordereaux management, financial controls, and regulatory frameworks
  • Strong understanding of underwriting processes and technology
  • Experience of delivering process improvements
  • Proficiency in Excel, Power BI, and underwriting platforms
  • Proven track record in process improvement and automation

If you're a caring and customer focused individual who enjoys working with passionate team members, Coverys is the right company for you

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