Magenta Property Underwriter

Who are we?

Howden is a collective - a group of talented and passionate people all around the world. Together, we have pushed the boundaries of insurance. We are united by a shared passion and no-limits mindset, and our strength lies in our ability to collaborate as a powerful international team comprised of 18,000 employees spanning over 100 countries.

People join Howden for many different reasons, but they stay for the same one: our culture. It’s what sets us apart, and the reason our employees have been turning down headhunters for years. Whatever your priorities - work / life balance, career progression, sustainability, volunteering - you’ll find like-minded people driving change at Howden.

Magenta are a Chartered Managing General Agent (MGA) based in East Anglia providing property insurance solutions to brokers and IFAs throughout the UK. Established over 30 years ago, our underwriting capacity is primarily sourced through Lloyd's of London, who also provide us with the underwriting flexibility needed to help us with highly complex property risks.

Job Purpose
- Negotiating with brokers, studying various insurance proposals by gathering and assessing background information in order to effectively underwrite the risk involved in line with company procedures and processes.
- Deal with new business enquiries within allocated authority level and in accordance with the company’s underwriting guide to enable objectives and targets to be achieved.
- Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders
- Magenta is a B2B chartered insurance underwriting agency specialising in writing residential non-standard or distressed risks; products include Home, MNW, Unoccupied, Renovation, Holiday Home and Let

Key Results Area
- Demonstrate consistent professional and constructive communication at all times to help support a positive and collaborative working environment
- Ensure contract certainty is achieved on all accounts at time of inception
- Ensure accurate policy documentation issued to the broker or customer
- Proactively support acquisition of new business
- Positively represent magenta and partners externally to the market
- Working towards set targets each month including profitability, GWP, conversion, quotes per day, turnaround times, workflow management, phone service.
- Following the underwriting and pricing knowledge and guidance from the Senior Mgt. Team to ensure that the company's underwriting performance commitments are met
- Utilise available actuarial information, other statistics and underwriting experience when considering acceptance, terms and premiums.
- Utilise available information and profiling of risks when considering acceptance, terms and premiums.
- Make effective decisions when dealing with presented cases, being able to justify underwriting decisions, keeping detailed and accurate records of policies and decisions made
- Provide excellent customer service to forge strong relationships with brokers.
- To be the delegated Underwriter for agreed Brokers, offering a bespoke service where required.
- Undertake any required training to ensure the role can continue to be effectively carried out.

Skills and Competencies
- Underwriting experience and knowledge.
- Excellent communication and negotiation skills both over the telephone and in writing
- Problem Solving and an eye for detail.
- Computer literate and thorough understanding of the Trading Platform
- The understanding to “think outside the box” and make commercial underwriting decisions
- Able to work under pressure and in a fast-paced environment
- Strong interpersonal and relationship building skills
- Good market and competitor knowledge.
- Good understanding of TCF principles.
- Good understanding of CIDRA

Qualifications
- A minimum of Cert CII is preferred
- A-Level Standard Qualifications

Technical Experience
- Good understanding of Residential Property Insurance
- Good understanding of Property Insurance Sales and/or Underwriting
- General Understanding of Property Insurance Claims
- General Understanding of FCA GI Regulation

Experience Required
- A minimum of 3 years’ experience in Property Underwriting or
- A minimum of 1 years’ experience in non-standard property underwriting

What do we offer in return?

A career that you define. At Howden, we value diversity - there is no one Howden type. Instead, we’re looking for individuals who share the same values as us:
- Our successes have all come from someone brave enough to try something new- We support each other in the small everyday moments and the bigger challenges- We are determined to make a positive difference at work and beyond

Reasonable adjustments

We're committed to providing reasonable accommodations at Howden to ensure that our positions align well with your needs. Besides the usual adjustments such as software, IT, and office setups, we can also accommodate other changes such as flexible hours* or hybrid wo