Position Summary
We are seeking to hire a life Science Underwriter to join our regional new business team.
Under broad supervision, the individual will be responsible for underwriting risks in a book of Life Science business including pharmaceutical, biotechnology and medical device exposures. The portfolio in question comprises of UK, international and multinational business.
Works within requisite authority on assignments of moderate technical complexity comprising of property, liability and clinical trials risks. Utilises underwriting policies and guidelines, rating manual rules and insurance laws and regulations. The candidate will ideally have experience of working in both the Lloyds and Company environments but this is not essential.
Key Responsibilities
* Reviews applications and financial requirements for risks requiring technical underwriting skills.
* Determines acceptability of risk in accordance with company guidelines and standards.
* Recommends appropriate pricing and coverage modifications or enhancements for risks after complete analysis and consideration of applicant documentation, business factors and competitive situations.
* Prepares quotations and answers questions from Brokers, internal and external contacts and escalates issues as necessary.
* Prepares written communications on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations. Where appropriate, verbally notifies Brokers of decisions in order to ensure clear understanding of the decision.
* Analyses quality, quantity, and profitability of risks underwritten and prepares reports formanagement review.
* Assist in marketing products and services through the brokerage community and make field visits.
* Develop and maintain positive Broker relationships.
* Maintains current knowledge on state/territory issues, regulations and trends.
* Work with more senior underwriters or management on risks exceeding authority level or requiring special handling.
* Develop proficiency in all relevant CNA systems.
* May update the underwriting systems.
* May perform additional duties as assigned.
Skills, Knowledge & Abilities
* Knowledge of underwriting and insurance industry theories and practices.
* Developing technical expertise and negotiation skills.
* Strong interpersonal and communication skills.
* Ability to effectively interact with peer level CNA internal and external business partners.
* Ability to work independently.
* Strong analytical and problem solving skills
* Ability to exercise independent judgment and make sound business decisions effectively.
* Strong knowledge of Microsoft Office Suite as well as other business-related software.