Purpose of the Job:
To underwrite business for Brit Insurance’s Global Markets Strategic Business Unit with the aim to develop business opportunities within the general, commercial insurance markets. To enhance earnings through a strong mix of specialist risk taking and investment skills combined with a distribution capability, to build a strong business profile as the leading company in our sector.
Budget and Headcount Information:
• General - To escalate to the Class Underwriter all Human Resources performance or any other personnel issues in line with Human Resources Policies.
• To undertake and submit performance reviews for the team within the timescale agreed with Human Resources.
• Training & Development - In liaison with the Class Underwriter ensure that the development needs of the team are met.
Principal Accountabilities:
Business Planning:
• Preparation - To support the Class Underwriter in the preparation of the Business Plan as required.
• Maintenance - To ensure that the business plan is maintained in line with the Key Performance Indicator’s as established by the Underwriting Committee.
• Strategy - To Understand and ensure that the strategy is fully supported within the Underwriter Role.
• Report & Accounts - To assist the Class Underwriter with preparation of data for inclusion in the company report and accounts.
Underwriting
• Client Audits - Assist and support the Class Underwriter with Client Audits ensuring always that changes implemented by the Class Underwriter are maintained.
• Key Relationships - Assist the Class Underwriter in developing key relationships at level equivalent to Underwriter role with brokers etc.
• Capacity - Monitor the capacity so that the Class Underwriter can ensure that appropriate business is being written.
• Evaluation and Control - Underwrite insurance and re-insurance risks in accordance with the approved business plan, subject to individual authorisation levels, referring to the Class Underwriter as appropriate.
• Business Development - To assist the Class Underwriter in the research and development of new business.
• Peer review - To support the Class Underwriter and present own risks at Peer Review meetings and to participate in discussions on risks written by other areas of division.
Compliance
• Recording & Reporting - Assist the Class Underwriter in ensuring that recording and reporting of relevant information is done within regulatory boundaries.
• Regulatory Issues - Ensure that all risks are written within regulatory guidelines.
Decision Making Responsibilities:
• Underwrite insurance and re-insurance risks in accordance with the approved business plan, subject to individual authorisation levels, referring to the Class Underwriter as appropriate.
Education, Qualifications, Knowledge, Skills and Experience:
• ACII qualified.
• To have a minimum degree education.
• Thorough knowledge and experience of underwriting
• Up to date understanding of market compliance and regulatory requirements for this class.
• Familiarity of Brokers within the market, and the ability to establish and maintain good working relationships.
• Sound IT skills, particularly the use of MS Office packages to intermediate level
• Strong numerical and literacy skills.
• Good leadership skills, with the ability to train, mentor and oversee a small team of Underwriting assistant staff.
• The ability to research and collate various information sources, to enable the timely preparation of reports.
• The ability to independently prioritise tasks and meet tight deadlines.
• Experience of analysing trends and shifts within the market and relevant class of business and reporting and acting upon findings where necessary.