Property Underwriter (m/f) - Multinational Insurance Company

• Large international insurance company based in Madrid|Property Underwriter specialized in commercial business (corporate segment)

Large multinational insurance company.

UNDERWRITING

• Underwrite profitable business in accordance with business


• Fully understand the risk & seek further clarity as


• Analysing claims experience to project future potential


• Adhere to all underwriting standards as outlined in the Underwriting


• 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 the Company's


• 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 MANAGEMETN AND BINDING

• Issue policies, endorsements or certificates, of bound business, coordinately


• 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 control

PLAN AND DEVELOPMENT

• Contribute to the Company strategy within Continental Europe, Iberia, in Tech with particular focus on Commercial Property and Onshore Energy


• 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 Tech 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 inmediately

Carreer development in a large multinational insurance company in Spain

EXPERIENCE

• 3 + years' experience in underwriting and/or broking (in property insurance)


• Advanced knowledge of specific class of business (PROPERTY)


• Knowledge on market wordings and clauses and reinsurance practices


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


• Understanding of Business Plan;


• Current book of business and risk appetite;


• Levels of authority and associated authorisation processes;


• Underwriting manual;


• Pricing/Rating tools;


• Slip and file construction;

SKILLS

• Develop knowledge of the lines of business;


• Data entry; and


• Analytical and problem solving skills; and


• Excellent written and verbal communication skills

SYSTEMS & I.T

• MS Office - Excel, Visio, Word, PowerPoint and Outlook;


• Eclipse;


• Camellion;


• Salesforce;


• RMS or equivalent; and


• Rating

QUALIFICATIONS

• University degree level (preferred Engineering or Business Administration).


• Able to speak English fluently both written and spoken.


• Portuguese would be a Plus