Company Description
IGI - International General Insurance Co. Ltd. is a leading international specialist commercial insurer and reinsurer with a global portfolio of Energy, Property, Construction & Engineering, Ports & Terminals, Marine, Financial Institutions, General Aviation, Professional Indemnity, Casualty, Directors’ and Officers’, Legal Expenses, Political Violence, Contingency and Treaty Reinsurance. Registered in Bermuda as a limited liability company, with operational headquarters in Amman, Jordan and offices in London, Malta, Bermuda, Norway, Dubai, Kuala Lumpur and Casablanca, we aim to deliver outstanding levels of service to our clients and brokers. The company has a strong financial position, with a financial strength rating of "A-" (Stable) from Standard and Poor's, and an "A" (Stable) rating from A.M. Best. IGI seeks to maintain profitability through prudent risk selection and a diversified business model.
Job purpose
To review applications for Property (Re)insurance cover received by IGIUK Ltd, both in the US (main focus) and internationally, determining and evaluating the nature and extent of the risk involved, maximising profit generated by the arrangement, whilst minimising the risk exposure to the business.
Key Responsibilities
Underwriting
* Underwriting new business profitably and accurately, reviewing and analysing (Re)insurance proposals received by IGIUK in order to determine what degree of risk, if any, to accept on the business’s behalf, by reference to relevant, up to date market information, statistics and specialist data
* Negotiating the most favourable terms with brokers and clients, ensuring that IGIUK’s income is maximised whilst its risk exposure is minimised.
* Ensuring that all decisions regarding the insurance terms to be offered to clients are made in accordance with IGIUK’s documented Underwriting procedures
* Liaising regularly with the IGI Group underwriting team based in Jordan, KL, Dubai, Casablanca and other offices, to ensure that procedures and process are operating as required and in a consistent manner.
* Undertaking regular peer reviews in accordance with IGIUK’s internal standards and requirements.
* Ensuring that individual responsibilities and accountabilities are carried out in line with regulatory and statutory requirements, particularly those relating to FCA’s principles covering Treating Customers Fairly and the general safeguards aimed at preventing financial crime.
Client Relationship Management
* Maintain and develop where required all aspects of client relationship management and third-party service providers
* Actively manage and grow broker relationships both in the UK and overseas
Portfolio Management
* Responsible, under guidance of the Class Underwriter, for balancing a growth in volume without losing profitability across the line of business
Continuing Professional Development
* Ensure an appropriate level of personal specialist knowledge and competence is maintained through a defined programme of training and continuing professional development as determined by prevailing regulatory requirements and internal standards
Professional Conduct
* Understands and behaves in accordance with the regulators Conduct Rules
* Understands, and at all times, conducts work and oneself in line with the corporate values – Innovative, Genuine and Integrity
Key Attributes & Professional Qualifications
* A minimum of 10 years underwriting or related experience in the insurance industry within Property lines of business
* A keen interest in own self professional development. Will need to be CII qualified, as well as regularly attending training events to continue their own professional development
* General computer literacy (excel, word, PowerPoint etc)
* Strong team player who is also able to work on own initiative within authority limits
* Excellent attention to detail in order to maintain accuracy of data and file records
* Customer focused, providing excellent customer service skills both internally to the team, as well as externally, with brokers
* The candidate needs to be a self-starter, who can manage high volumes during busy periods, has the ability to take and execute instructions and meet deadlines. Must work well under pressure and be able to prioritise tasks, especially during busy periods.
* Excellent Interpersonal skills: active listener, purposeful communication, confident interaction, and ability to work within a team