Job Description
We are delighted to be working with a private equity backed insurance broker and administrator that specialises in providing insurance administration services for the finance and leasing industry across Europe. Their main administration centre is based in Newport, South Wales but they also operate a European office in Amsterdam, Netherlands through the groups sister subsidiary company.
Working for this client provides an opportunity to join a dynamic and cooperative working environment which is focused on continuous improvement.
Role Purpose
The Underwriting team is responsible for the governance and execution of our clients' commercial and group underwriting activity, including pricing, forecasting, risk analysis, policy allocation and all out-of-binder proposals, and ensuring that the technical results of their insurance-backed products continue to perform within their designated target thresholds.
Key Responsibilities
Act as the main contact for underwriting queries, acknowledging receipt, managing their allocation within the team, and providing accurate time estimates for their delivery.
Underwriting risks within own personal level of underwriting authority and escalating to the Underwriting Manager or Partnerships team for outward approval where necessary.
Support the Underwriting manager in enacting MTAs such as ad hoc pricing changes, inflation adjustments, additional equipment classes or policy endorsements and issuing/archiving the relevant documentation swiftly and accurately.
Provide technical support to the Commercial function, assisting them in securing financial objectives in a clear, timely and well organised manner.
Actively use, contribute ideas to and provide feedback regarding automated underwriting systems, employing a continuous improvement mindset to ensure that any development needs are clearly communicated to the Finance and Business Intelligence teams.
Support the Underwriting Manager in delivering compulsory and targeted skill gap product training to the wider business and assimilate technical knowledge
Handle the day-to-day administration of the Residual Value Insurance product.
Work closely with all teams to contribute towards the execution of corporate objectives.
Contribute to the delivering operational excellence through process documentation, optimisation, and automation within Partnerships and across the wider business.
Personal Requirements/Skills Qualifications
Previous underwriting experience, preferably within an MGA environment in UK or EU general insurance lines.
Excellent verbal and written communication skills, with the capability to prioritise.
Technical mindset with an analytical approach to problem-solving.
Proficiency in data interrogation, analysis, and presentation.
Ability to present and explain data-driven proposals clearly and effectively to stakeholders.
Cognisance and understanding of the UK and European general insurance markets, regulations, and trends.
Sound Office proficiency, particularly Microsoft Excel
Ability to build rapport with internal and external stakeholders at all levels.
Strong numerical reasoning skills and attention to detail are essential.
Formal insurance qualification/s (e.g. CertCI) would be beneficial
What you'll get in return
Competitive salary of £35,000
25 days Annual Leave (with the option to buy and sell more)
Annual Bonus Scheme based on performance.
- Requirement to be in the office 2/3 days a week in Newport (onsite parking available.)
Company Pension Scheme 5% employee and employer contributions
Private Medical Healthcare
Group Life Insurance (4x basic annual salary)
Employee Assistance Programme
Cycle to Work Scheme
Electric Vehicle Scheme
Occupational Sick Pay
Enhanced Maternity & Paternity Benefits
Comprehensive Performance and Development Framework
Social Events Committee
Refer a friend bonus scheme (£1,000 per referral)
Long service awards.
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