Underwriter

Beazley has an exciting opportunity to join our London operations as a US Private Enterprise (SME) underwriter. Sitting as part of Specialty Risks & US Programmes, theteam underwrites a broad range of Professional and General Liability, Allied Medical and Cyber & Tech E&O risks within a diverse industry base. The majority of the book is administered via delegated authority programmes and master policies. We are seeking an underwriter with binders experience who takes an analytical but commercial approach to high volume business. The successful candidate will be adaptable, flexible and have the ability to take a ’big picture’ view to structure risks creatively.

Beazley is a flexible and innovative employer offering a friendly, collaborative, diverse and inclusive work environment. We actively encourage and expect applications from all backgrounds. We empower people to choose where to work given the work they need to do. Collaboration in office spaces is important, but we do not mandate a set number of days in the office or from home – you decide what works best for you, your role and the team you are in. Beazley offers a competitive salary and bonus with a strong benefits package, including commuting reimbursement, free in-office lunch, excellent parental leave and financial, physical and mental wellbeing contributions.

Job description and person specification

Job Title: Underwriter - Private Enterprise (PE), Specialty Risks & US Programmes

Division: Specialty Lines

Key Relationships: Brokers, underwriters, claims staff, coverholders, external clients and suppliers

Job Summary: To underwrite a Private Enterprise (PE) account within the Specialty Risks & US Programmes team and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.

Key Responsibilities:

Underwriting

• Develop and underwrite a profitable portfolio of US PE business as part of the Specialty Risks & US Programmes team.
• Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the PE account.
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Lines.
• Comply with Beazley’s underwriting control standards for business written through Lloyd’s or Beazley’s internal MGAs.
• Develop a good working relationship with the claims managers on this class of business.

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
• Maintenance of good business relationships with brokers.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

General

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
• Develop best practice and disseminate business and class knowledge within the Specialty Risks & US Programmes and Specialty Lines team.
• Work with peers within Specialty Risks & US Programmes and Specialty Lines to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
• Production of presentations and marketing literature as required.
• Production of business plans/research documents for the PE account as required.

At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Doing The Right Thing, Striving For Better and Being Bold - as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to -

• Comply with Beazley procedures, policies and regulations, including the code of conduct.
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.

Personal Specification:

Skills and Abilities

• Proficient underwriting skills
• Accurate and numerate
• Computer skills – good working knowledge of MS Office, advanced Excel skills
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Ability to manage time, meet deadlines and prioritise
• Motivational skills

Knowledge and Experience

• General commercial and financial knowledge
• Experience in insurance industry
• Experience of professional liability underwriting
• Thorough knowledge of underwriting policy, philosophy and practice
• Advanced knowledge of underwriting processes and systems
• Client service experience

Aptitude and Disposition

• Result focused, self-motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker as well as able to work on own initiative
• Customer focused, with a strong ethic of service and fairness to the customer

Competencies

• Achievement drive
• Analytical thinking
• Strategic thinking
• Service focus
• Team working
• Forward thinking
• Conceptual thinking