Job Title: Junior Underwriter
Location: London
Salary: £36,000 – £40,000 Plus Travel allowance and benefits including family BUPA, flexi pot, 25 days holidays, and a contributory pension scheme
Job Type: Full Time, Permanent
Purpose of the role:
- The person joining to fulfil this role will be the first underwriter they recruit into the insurance business. This role will work with their wholesale MGA provider in the short term to understand and develop their underwriting strategy which will start with liability insurance.
- The primary role will be to take all underwriting queries and either have the delegated authority to make decisions themselves or to refer to Company’s wholesale MGA. In the early days a large part of the role will involve ‘rolling your sleeves up’ and communicating with the end customer via the phone or webchat. There will be inbound and outbound telephone calls to make to follow-up quotes etc. This role will also have the opportunity to be a founding member of the underwriting team and can contribute to future underwriting strategy. As we grow and scale, there will be a number of different career directions open to the candidate.
Key Responsibilities and Accountabilities:
- Discussing terms and cover with policyholders where needed (phone and webchat)
- Delivery of product and trade underwriting strategy through digital channels
- Customer management via web chat, inbound and outbound calls
- New business sales and conversion rates
- Developing risk management frameworks/models and identify and help manage key risks
- Assessing risk and pricing to ensure premiums are competitive and accounts are in line with business strategy
- Ensuring underwriting policies, procedures and guidelines are in line with company’s and regulatory compliance
- Ensuring relevant reporting and analysis is in place for monitoring the underwriting result
- Assisting in writing policy wordings, letters, general information in plain English
- Training and coaching of Customer Service Agents
The Candidate:
- Have experience in underwriting SME commercial lines policies, preferably liability in an MGA model.
- This person believes that you can build very effective underwriting decisions into a digital environment and is excited about using new and innovative ways of assessing risks on-line.
- This person believes that there is an opportunity to better serve customers of small businesses on-line making it easier, more transparent and hassle free, not least from taking the jargon away from policy documents.
- This persons wants to challenge the status quo of the industry and is looking for an opportunity to do something different.
- This role needs to push the boundaries but be very aware that they still need to make a profit. This person will be energetic, keen to make their mark, and analytical.
Essential knowledge and experience
- Knowledge of Insurance industry
- SME underwriting experience – liability and possibly property
- B2C customer facing experience
- Experience of working autonomously and proactively
- Appreciation of technology and how it can be exploited to trade SME business more effectively
Desirable knowledge/experience
- Financial services industry
- Regulatory experience and knowledge
- Certified by chartered institute of insurance.
The Company is the UK’s largest independent invoice finance specialist and a trusted provider of funding solutions to over 7,000 businesses. Through their network of 19 local offices, they handle annual client turnover of £5 billion since 2010, they have advanced more than £26bn to small and medium sized businesses throughout the country.
Formed in 1982, they are a member of the Asset Based Finance Association (ABFA) and support businesses in over 300 industry sectors. Globally, the company has operations in 44 locations, in 14 countries across Europe, the Americas and Asia, supporting more than 9,500 business customers worldwide.
In 2011, 2012, 2014, 2015, 2016, 2017 and 2018 the company was awarded a place in The Sunday Times 100 Best Companies to Work For, ranking 48th in the most recent poll. They are supported by their parent company, a 208-year old business-to-business services group involved in logistics, shipping and ship management, floating accommodation, hydrographic survey and geophysical services, offshore project management, retail and construction equipment hire.
So…
Are you ready for your next ambitious challenge?
If so, we look forward to hearing from you!
Please click on the APPLY button and CHECK YOUR EMAILS for the link to the Company’s careers page.
Candidates with the experience or relevant job titles of: Underwriter, Independent Finance Adviser, Underwriting Consultant, Insurance Underwriter, Financial Advisor, IFA, Insurance Underwriter, Independent Financial Adviser, IFA Adviser, Planning Adviser, Financial Consultant will be considered for this role.
