Development Underwriter
4 weeks ago
Who Are We?
Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.
Job Category
Underwriting
Target Openings
1
What Is the Opportunity?
We are looking for a Development Underwriter in Professional Indemnity team to join us on a 12 month fixed term contract covering a maternity leave.Travelers is one of the top names in professional indemnity insurance because of our industry-specific knowledge and market-leading approach to coverage. That’s why lawyers, accountants and professionals in many other fields have purchased cover from Travelers.
You will ideally have prior experience in underwriting Professional Indemnity risks .You will interact and collaborate with a team of regional or product colleagues and other internal/external business associates associates to attract new business, retain existing customers, and explore new areas of business.
Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.
This role is eligible for a £3,000 new joiner bonus. If you are successfully referred by an employee at Travelers Europe, both you and the person who referred you could be eligible for this bonus.
Primary Job Duties & Responsibilities
Underwrite and assess risk for products and accounts from assigned brokers. Make appropriate decisions within own underwriting authority in addition to considered, intelligent, and complete recommendations to regional or product underwriting leadership. Consistent with Travelers Insurance Company Limited (TICL) underwriting principles, underwrite accounts and risks and consider different approaches toward risks to maximise profitability (, pricing, retention, endorsements, limits, indemnity, and security). Make prompt, sound decisions within underwriting authority and based appropriate underwriting information. Negotiate terms and conditions consistent with regional or product underwriting requirements and standards within submission timeframe. Understand and execute product segment strategies to produce budgeted results. Continuously manage book of business (maintain quality of business required by regional or product underwriting strategy). Accountable for accurate underwriting documentation and information in account management systems and adherence to documentation standards. Embrace required working practices with allocated Underwriting Account Management resource in order to deliver appropriate and timely underwriting service on your accounts at all times. Actively engage and seek out training opportunities to further develop underwriting expertise. Develop and leverage broker/client relationships through a high level of visibility and using a disciplined sales management approach ( planning and follow-up for broker and prospective customer visits/meetings) in support of business objectives. Effectively develop and execute sales plans for assigned brokers in conjunction with the regional sales leadership as appropriate. Create and achieve sales plans that identify and capture new business opportunities and effectively cross sell TICL products. Seek out and maintain collaborative relationships with colleagues in other business units and regions to foster business development. Actively participate in regularly scheduled regional and product underwriting and/or sales meetings. Demonstrate superior customer service standards (consistency, quick response, knowledge of products). Assist others to help achieve underwriting, sales and production goals and understand and work towards strategic objectives. Work tactically with brokers to ensure they have an appropriate level of understanding of TICL goals and objectives. Other duties as assigned.Minimum Qualifications
Previous experience of underwriting in solicitors professional indemnity required.Education, Work Experience, & Knowledge
Degree education preferred. Working knowledge of industry business operations and work methods, critical business issues and financial drivers that affect the Line of Business. Working knowledge of the local insurance marketplace and effectively uses that knowledge to the Company's advantage; continuously seeks out local market insight.Licensing or Certificates
ACII qualification preferred.Job Specific Technical Skills & Competencies
Intermediate: Relationship Management: Seeks out, builds, fosters and maintains productive relationships or alliances to meet goals and achieve objectives Basic: Business Perspective: Uses knowledge of internal and external factors that impact assigned product portfolio to make decisions Basic: Analytical Thinking/Financial Acumen: Identifies current or future problems or opportunities, analyzes, synthesizes and compares information to understand issues, identifies cause/effect relationships, and explores alternatives to support sound decision making. Utilizes understanding of finance and accounting principles to identify the impact of responsible underwriting decisions on the overall profitability of the business. Intermediate: Product/Technical: Demonstrates technical proficiency and application of knowledge commensurate to his/her underwriting authority. Makes sound quoting and pricing decisions that are in the Company's best interests.
What Is in It for You?
Private Medical Insuran ce: 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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