About Us
Faraday is part of the General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway. In this respect we have a uniquely solid and stable financial capability.
Faraday's Syndicate 435 at Lloyd's underwrites Aviation, Casualty (North American Specialist Lines, Financial Lines, International Casualty and UK Liability Insurance), Property (Direct & Facultative and Treaty), Accident & Health, Agriculture and Energy.
Ten distinct teams underwrite a diverse range of risks worldwide both on an insurance and reinsurance basis, developing close and mutually supportive relationships with clients and brokers in our chosen markets. Our customers are at the heart of everything we do.
Main purpose of Job:
To support the Head of Aviation in the development and pricing of the Faraday Aviation Account.
Context of the Role:
Working as an integral part of the Aviation Team. This role requires the ability to respond quickly to incoming requests, managing the demands of both internal and external clients. Faraday is a market leader in all classes of business written and therefore the candidate will be expected to have a broad knowledge of the market and issues facing the business. Prioritisation, attention to detail, organisation and a high level of IT skills are paramount.
Key responsibilities:
1. Underwrite Aviation risks with an emphasis on Airline opportunities as per the underwriting guidelines and within underwriting authority limits. This includes reviewing underwriting submissions, populating rating models, producing initial pricing calculations alongside broker negotiations.
2. Develop a full understanding of all pricing models used by the Aviation team and assist the actuarial team in their continued improvement.
3. Function independently with limited direction. Make recommendations and develop Underwriting / Portfolio strategy in conjunction with management. Actively identify, define, and pursue new business opportunities to secure long-term, profitable relationships with clients and brokers.
4. Review, evaluate and oversee new / renewal business and coverage requests based upon company underwriting guidelines, competition, and geographic focus.
5. Maintain and grow market presence through formal regular broker visits. Solicit new accounts, gather market intelligence, and provide up to date department information relating to products and services.
6. Meet all Aviation Unit servicing objectives including but not limited to quote turnaround, policy issuance, file maintenance and documentation. Maintain data integrity for underwriting system.
7. Risk reviews including rate monitoring and peer review.
8. Perform all necessary travel as required for client meetings and marketing.
9. Assisting in the preparation of reinsurance renewal packs.
10. Creating ad hoc and ‘diarised’ reporting.
11. Producing regulatory reports and always maintaining regulatory standards.
12. Liaise with claims team to monitor loss trends.
13. Participate and contribute to training and mentoring initiatives.
14. Demonstrating a positive attitude and strong value system (e.g., integrity, trustworthiness, respectful).
15. Continuously improve own skills.
Knowledge:
Advanced IT Skills within the MS Suite of products, particularly Excel and PowerPoint are essential. Being curious and possessing a strong desire to develop a career within the insurance market are qualities that are of equal importance to us as prior experience within a similar position or working knowledge of the insurance industry.
Additional requirements:
* Strong negotiating and influencing skills.
* Sound verbal and written communication skills/ interpersonal skills.
* Good industry background with solid experience in an insurance role.
* Knowledge of technical pricing models.
* Team player.
* Strong work ethic and a sense of urgency.
Our Address:
Faraday
Corn Exchange
55 Mark Lane
London, EC3R 7NE (UK)
It is the continuing policy of the Gen Re Group to afford Equal Opportunity to qualified individuals without regard to race, color, sex (including childbirth or related medical conditions), religion, national origin or citizenship, sexual orientation, gender identity, or any characteristic protected by applicable law. In addition, Gen Re provides reasonable accommodation for qualified individuals with disabilities in accordance with the Americans with Disabilities Act.
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