Job title: Delegated Authority Scheme Underwriter
Location: City of London
Salary: Up to £65,000
Reporting to: Head of Scheme Business
Purpose of the role:
This role is responsible for managing clients’ delegated authority schemes to maximise their potential. You thrive when taking the initiative, bringing both internal and external stakeholders together with a partnership-based approach to create mutual success. 2-3 days office based and the remainder working from home.
Key responsibilities:
* Proactively develop strong relationships with a designated panel of brokers, taking full ownership for the generation of profitable business.
* Collaborate with partner brokers across Underwriting and Operations, to routinely review scheme performance, identify opportunities to grow, improve the proposition, improve profitability and find efficiencies.
* Identify poorly performing accounts and investigate reasons for high loss ratio. Discuss actions with Senior Underwriters and implement actions to improve scheme performance.
* Contribute to the planning and setting of department key tasks, including the budget and KPIs, to achieve the strategic development plan.
* Ensure accurate and timely servicing and debiting of accounts and assist credit control with premium collection as required.
* Contribute to the development of junior members in the team by supervising and acting as a technical underwriting referral point.
* Perform regular analysis and report management information of your accounts for internal and external meetings.
* Attend binder renewal meetings, prepare renewal proposals and present to the Underwriting Committee.
* Participate in annual coverholder audits, write up audit reports and follow up with the completion of recommendations.
* Review and update various policy wordings, agency contracts, binding authority agreements, or other business documentation as required.
* Provide ongoing feedback to Head of Business and Underwriting Manager on competitors, market conditions and relevant information to help improve our clients’ product, pricing and services.
* Assist Underwriting Management with reviewing and updating underwriting guides, rating structures, or other business terms and endorsements for the assigned accounts as required.
* Work with both Underwriting and Compliance to assist in implementing company and regulatory requirements for coverholders.
* Draft the run-off plan and ensure its implementation for terminated schemes.
* Implement other tasks assigned by the company.
Requirements:
* 3+ years of experience in delegated authority account management, ideally from an insurance carrier or a mainstream MGA.
* Outstanding communication and interpersonal skills combined with a proven track record of relationship management.
* Ability to communicate effectively at all levels of engagement, both internally and externally.
* Strong negotiating skills and the ability to empathise and influence.
* Ability to work both independently and as part of a team while meeting set goals.
* Good time management and organisational skills to meet deadlines.
* Knowledge of the UK insurance market, and relevant regulatory practices and legislation in the industry.
* Knowledge and experience of underwriting insurance risks of commercial and/or personal lines.
* Ability to analyse data and write reports.
* Proficiency in MS Office applications such as Word, Excel and PowerPoint.
Preferred:
* Education to degree level. CII qualification or equivalent preferable.
* Advanced Excel skills.
If you have the relevant experience or know someone who does, please contact us now on 0203 727 2314 or email us at glenn@lawesgroup.co.uk.
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