Underwriter
Insurance
South East
up to £75Kpa

Portfolio Underwriter

Ref: 3916| Posted: 3rd Aug 2022

You are already a highly experienced portfolio underwriter who leads improvements in pricing and product methodologies and seeking a career development opportunity to be head of the UK underwriting function and insurance portfolios working for a thriving insurance business. 

You will have an excellent understanding of regulatory requirements, more than 5 years of experience in a similar position, strong underwriting processes, and procedures understanding, and you will have experience in risk and assessment including pricing the risk.

Advanced knowledge of MS Office Suite, including advanced knowledge and use of Excel PIVOT Tables, VLOOKUP, and POWER BI.

Job Duties/Responsibilities:

  • Ensure target loss ratio is delivered for allocated portfolios.
  • Adhere to prevailing underwriting processes, governance framework, and underwriting authority
  • Support business SMEs through underwriting new business growth opportunities and/or opportunities to profitably grow the existing business through optimization of underwriting terms.
  • Apply the underwriting strategy including appetite, risk selection, and eligibility criteria to all allocated portfolios.
  • Ongoing weekly / monthly scheme performance reviews to monitor the performance of allocated portfolios.
  • Provide business performance reports for portfolios
  • Proactively make interventions to correct adverse underwriting performance, and positive interventions to support the growth of sustainably profitable business.
  • Closely monitor premium written, ensuring premium adheres to the business financial plan.
  • Conduct large loss reviews, making appropriate adjustments to portfolio underwriting terms where necessary, and providing feedback to the business SMEs
  • Provide input into the technical underwriting strategy, providing performance and market insights where requested
  • Provide technical support and decisions on underwriting practices in accordance with Binding Authority Agreement
  • Provide technical support in underwriting processes, products, and pricing to internal and external stakeholders
  • Develop and maintain good working relationships with external insurers and other external partners, identifying opportunities for profitable new business growth and growth of the profitable existing business through optimization of underwriting terms.
  • Collaborate with internal stakeholders in delivering an updated suite of policy wordings, as well as supporting all product development activities.
  • Collaborate with Reserving colleagues to inform accurate ULR calculations.
  • Enhance personal credibility, in relation to market presence and industry knowledge.
  • Take ownership and of all portfolios-related documentation upkeep, including but not limited to, Policy Wordings, IPIDs, Underwriting Guides, Rating.
  • Proactively develop own skills to improve immediate performance and realise future potential.

We will consider portfolio underwriters across a broad range of either personal lines or commercial insurance as full product training is provided.

Salary up to £65Kpa + good benefits

Work from home flexibility with travel to their Surrey/London once and month and London on a quarterly basis.

Don’t meet every single requirement? Studies have shown that women and people of colour are less likely to apply for a role unless they meet every single qualification or criteria.  At Insure Recruitment, we work with clients who are dedicated to building a diverse, inclusive, and authentic workplace.  So, if you’re excited about this role but your past experience doesn’t align perfectly with every qualification or criteria in the above description, we encourage you to apply anyway.  You may be exactly what we’re looking for in this or other roles.

Please apply to this role by submitting your most up-to-date CV. If your application is successful, we will be in touch within 2 working days of receiving your job application to discuss the opportunity in more detail.

Due to the overwhelming application response, should you not hear from us within 5 working days then please assume that your application has been unsuccessful