Development Underwriter – International Property

Job Title: Development Underwriter – International Property

Location: London Market  

Salary: Circa £110,000 + Bonus

Job Type: Permanent       

Purpose of the Job:

Support the organisations engagement with strategic broker partners, working alongside the Portfolio Underwriters across a range of products, developing opportunities to grow in line with its business plan and acting as a key point of contact for brokers using the platform. Provide review and oversight of business bound and market insight for the Portfolio and Underwriting Committee.

Principal Accountabilities:

Strategy, Planning and Budgeting

 Strategy, Planning and Budgeting

• Work with the Portfolio Underwriters to help define, develop and deliver the revenue strategy:-

– Identify opportunities by mapping and segmenting the distribution landscape.

– Monitor renewal pipelines and proactively pursue these opportunities with regular broker engagement meetings.

– Develop an understanding of the market, identifying new opportunity areas.

– Leverage existing relationships and build new relationships, generating new products, markets and distribution channels.

• Support the implementation of the customer relationship management (CRM) system in order to track business opportunities and manage a large distribution network.
• Manage distribution and partner broker relationships
• In conjunction with the Portfolio Management function, continually monitor distribution and risk appetite patterns in order to drive the team’s revenue strategy.
• In collaboration with the Product Manager, create a feedback loop from distribution partners to the Portfolio Management team in order to continually develop insurance products in line.
• Assist the Portfolio Underwriters, MD and the management committee in the production of the annual business plan.

Business Production, Relationship Management and Marketing

• Working with the Portfolio Underwriters and MD, be the face of the group and the first point of contact for all distribution partners, driving revenue and promoting the brand.
• Communicate strategy, appetite and news to all external stakeholders.
• Communicate messages from the market, distribution partners and competitors regarding product and appetite developments.
• Explore and develop new insurance product initiatives and markets.
• Work with Marketing to develop brand strength and reputation as an innovative start-up syndicate, including broker awareness.

Underwriting Performance

• Create a strong, transparent and collaborative working relationship with the Portfolio Underwriters, MD and Portfolio Management to ensure that they are provided with a large volume of diverse and desirable risks for the algorithm to underwrite.
• Regular collaboration with Portfolio Management to:

– optimise the commercial lense of the algorithm by giving updates from the market, distribution partners and competitors.

– develop the revenue strategy with input from the algorithm’s appetite in order to optimise revenue generation and business mix.  

• Peer review – To support the Portfolio Underwriters and the MD in Peer Reviewing risks written by the algorithm, in particular risks following nominated leads
• Analyse and Re-underwrite risks written following nominated leads to ensure wordings are appropriate and risks remain in group’s appetite. Create a robust feedback loop with the Portfolio Management team for further input into the algorithm.

Team

• Work cross-functionally with other team members to support delivery of new revenue opportunities and product development.

Education, Qualifications, Knowledge, Skills and Experience:

The incumbent must demonstrate the following:

• Track record of success in the development and execution of commercially viable strategies, with high standards of delivery in a timely, cost effective way.
• Excellent negotiation, communication and presentation skills in order to drive revenue and business development opportunities across distribution network.
• Strong organisational credentials in order to help drive a dynamic team to deliver the revenue strategy in a coherent manner.
• Capable of managing, developing and profiting from new and existing relationships.
• A commercial understanding of underwriting. Able to assimilate into strategic discussions around the structuring and management of portfolios.
• Independence; the ability to manage their own workload and self-motivate in order to execute targets successfully.
• Experience of working in the London and Lloyd’s insurance markets.

Leadership

• Ability to establish direction/vision
• Ability to develop breadth of perspective/think corporately
• Ability to develop strategies to produce change and make a difference

Aligning People

• Ability to communicate direction
• Ability to ‘sell’/support corporate direction
• Ability to gain the commitment of others and secure their ‘buy-in’

For extra information please contact:-

London: 0203 411 8430

Email: admin@lawesgroup.co.uk