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Technical Underwriter
Hybrid from Central London or Bromley, Kent (2-3 days in the office)
Initial one year contract - likely to turn permanent.
Package: c£45,000 p.a. + 10-15% bonus + share options + benefits
Our client has over 60 years’ experience as an underwriting agency, with a network of over 1,000 supporting brokers throughout the UK. They are an established Lloyd's Coverholder and Lloyd's Broker. Part of a global insurance group they are primarily used for arranging capacity for their own managed products but do utilise their London Market relationships to arrange facilities and schemes for other Insurance Intermediaries who have affinity or niche portfolios.
Fantastic opportunity for an experienced Underwriter to join a growing & innovative business.
Duties for Technical Underwriter
- Assisting maintenance and updating of the Underwriting System, Technical underwriting guides, endorsements, referrals from the trading teams, conduct risk and underwriting technical controls.
- Focusing on Underwriting quality, including assisting with conducting QA , large case/claim reviews and reviewing & updating exception reports
- Contributing to research and assisting in the Product Lifecycle and Ongoing Product Governance Process including FVA for our schemes
- Contributing to group transformation project assisting migrating product specifications to build the product from a technical underwriting perspective supporting the wider technical team
- Building and maintaining relationships with all teams and the wider group.
- Ensure technical documentation is compliant with regulatory and binder requirements
- Ensure all scheme and product underwriting guides are in place and regularly updated and re-issued appropriately
- Ensure technical underwriting endorsements maintain contract certainty and are kept up to date with any technical documentation system changes.
- Manage manually applied technical underwriting endorsements in accordance with our authority.
- Respond to internal referrals from Trading and Claims teammates
- Work alongside Underwriting Governance and Product teams to ensure the oversight process is managed in line with the required frequency or when changes required, or when launching new products and ensure all technical documentation suite is signed off by the required deadlines
- Contribute to creation, maintenance, version control and review of wordings, FAQs, Product Summaries
- Assist in testing any changes made within our systems to ensure compliance
- Assist in maintaining exception reports, embed in operation and monitor
- Assist with Data and MI analysis ready for the team to analyse, update and maintain performance reports for internal and external use to ensure we are hitting agreed targets
- Assist in maintaining and reviewing Underwriting Licences
Experience Required for Technical Underwriter
Previous Commercial Underwriting /Technical Underwriting experience is essential.
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