Financial Lines Underwriter (m/f) - Insurance Company

• Intenational Insurance Company, corporate business|Financial Lines Underwriter specialized in PI, D&O, Cyber.

Large multinational insurance company, specialized in corporate business.

ROLES AND RESPONSIBILITIES UNDERWRITING

- Underwrite profitable business in accordance with business plans (Focus in D&O for Commercial and Financial institutions, and PI).

- Fully understand the risk & seek further clarity as required.

- Analysing claims experience to project future potential results.

- Adhere to all Company underwriting standards as outlined in the Underwriting Manuals.

- Obtain sign-off for all business that is in excess of agreed authority levels or where any factor falls below rating guidelines.

- Adhere to rating tools and guidelines.

- Ensure that underwriting documentation, both paper and electronic, is accurate, complete, up-to-date and meet Company's standards.

- Capture market intelligence and broker feedback on accounts.

- Ensure that the policy wordings & clauses are slip referenced and agreed.

- Ensure that all accounts are contract certain at the time of binding.

- Continuously develop and enhance the rating tool(s) regularly to enhance the range of exposures they encompass.



SUBMISSION MANAGEMENT AND BINDING

- Evaluating, prioritizing and selecting submissions to be underwritten.

- Ensure all bound, quoted, working and declined risks are logged as per guidelines.

- Follow up on outstanding quotes with the relevant broker.

- Develop broker & client relationships to optimize opportunities to lead business, arranging or attending regular meetings, presentations and events.

- Ensure the file is complete and contains all relevant documents. Obtain any outstanding items from the broker or underwriter in readiness for Peer Review.

- Ensure signings are accurate and are consistent with written confirmations.

- Liaise with brokers to follow up on outstanding renewals.

- Ensure schedule data & quotations accurately into the system.

- Ensure the Underwriting Notes are complete.

- Conduct Quality Assurance (QA) within 2 working days of binding or inception (whichever is the earliest) to check the accuracy of underwriting data entered on the system, ensuring the risk is contract certain.

- If Pre-binding Peer Review is not done, a Post-Peer Reviews within 5 working days from QA must be made in order to ensure the underwriting rationale, terms and conditions, pricing against the Company guidelines and the completeness of files.

- Provide assistance to reconcile and report all premiums due versus received in order to manage credit controlPLAN AND DEVELOPMENT

• Contribute to the Company strategy within Continental Europe, Iberia, in Casualty with particular focus on D&O/FI D&O.


• Contribute on the Development, production and enhancement of local wordings in coordination with the UW team in UK and Continental Europe aligned to local market characteristics.


• Develop broker and client relationships to optimise opportunities to lead business, arranging or attending regular meetings, presentations and events.


• Review Internal Audits and Expert Review Reports to identify and implement improvements.

PORTFOLIO MANAGEMENT

• Handle renewals and contribute to meet the target retention ratio for the Casualty Lines.


• Manage aggregations / accumulations of joint venture interests.


• Provide support on raw data generation to report the RM and CUO to inform the reinsurance strategy.

COMPLIANCE

• Report any suspicion of financial crime to the Money Laundering Reporting Officer immediately


• Operate within the Company's standards for Treating Customers Fairly.


• Manage any potential conflicts of interest to avoid disrepute to the company's integrity.


• Advise Compliance of any complaints immediately.

REGULATORY & COMPLIANCE

All employees must adhere to all Company policies and procedures that are applicable to their role.

In addition to the above, all employees must also adhere to the following Compliance policies and procedures:

• Anti-Money Laundering;


• Insider Trading;


• Treating Customers Fairly;


• Conflicts of Interest;


• Code of Ethics; and


• Risk Management.

Carreer development in a large multinational insurance company

EXPERIENCE

? 3 + years' experience in a technical role (in Financial Lines);

? Advanced knowledge of specific class of business (D&O, FI, PI);

? Knowledge on market wordings and clauses and reinsurance practices;

? Up-to-date knowledge of claims to inform future underwriting decisions;

? High level of English;

? Current book of business and risk appetite;

? Levels of authority and associated authorisation processes;

? Underwriting manual;

? Pricing/Rating tools;

? Slip and file construction;SKILLS

• Judgment and decision making;


• Business development; Excellent interpersonal, communication and analytical skills.


• Analytical thinking; Prepared to find solutions that fit clients needs within our appetite and guidelines.


• Advanced numeracy;


• Detail-oriented with demonstrated ability to self-direct, prioritize work, and meet deadlines.


• Team and individual management skills and practices;


• Excellent organizational skills and ability to handle multiple tasks in a high-volume, fast-paced environment.


• Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions, especially regarding technical aspects.


• Detail-oriented with demonstrated ability to self-direct, prioritize work, and meet deadlines.


• Takes initiative on projects and assignments, seeks alternate solutions when necessary.