Shape Your Future With 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 provide administrative assistance to the US Casualty Team, including underwriting support for all members of the team.
Context of the Role:
The role will work directly with all members of the US Casualty Team. Currently, the Team is made up of 4 colleagues reporting to the Head of US Casualty. The 4 team members are a mix of Senior Underwriters and an Assistant Underwriter. Success within the role will also be dependent on maintaining close relationships with other internal teams, particularly Operations, Actuarial, Compliance, Loss Modelling, and Wordings. Externally, the ability to communicate effectively and efficiently with brokers is key.
Key responsibilities:
1. Provide underwriting administration at the Lloyd's box and in the office, including the following tasks:
2. Setting up accounts in the Underwriting system;
3. Initial collation of submission data (both new and renewals);
4. Input of Underwriting and Pricing Notes;
5. Filing underwriter emails and submission onto the DMS;
6. Liaising with brokers and answering queries;
7. Providing assistance at the box in Lloyds – scanning, photocopying, note taking;
8. Going through the renewal list keeping it maintained;
9. Liaising with Wordings, Actuarial, Compliance Claims, and Loss Modelling teams on behalf of underwriters;
10. Liaising with the Operations team about PRO (outsourced support) procedures and issues;
11. Saving and finalising pricing to monitoring system;
12. Chasing brokers for overdue premium, upcoming accounts and querying lost accounts;
13. Running Qlikview reports and changing line status to maintain accuracy on Sequel;
14. Weekly reporting for the team on expected accounts coming in;
15. Maintenance of weekly report;
16. Assisting with the research for report writing;
17. Evaluating risk bordereaux data to ensure it is within underwriting parameters and for accuracy;
18. Evaluating risk bordereaux data to monitor written premium against binder estimates – updating sequel accordingly;
19. Maintaining and ensuring binders compliance is up to date. Chasing brokers where required and liaising with Compliance Team to fill any gaps.
Candidate Profile
Knowledge:
Insurance industry experience will be an advantage.
Good IT Skills within the MS Suite of products, particularly Excel, are essential.
Being curious, asking questions, and possessing a strong desire to develop an underwriting career within insurance.
Competencies required:
* Communication: Excellent oral and written communication skills
* Teamwork: Good interpersonal skills; Ability to build and maintain relationships both internally and externally
* Results oriented: Excellent planning and organization skills; Ability to prioritize workloads effectively
* Problem Solving: Uses initiative where appropriate
Closing Date:
30 January 2025
Please note, only successful candidates will be contacted.
Our Address:
Faraday Underwriting Limited
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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