Motor Portfolio Underwriter

Job Title – Motor Portfolio Underwriter   

Contract – Permanent

Salary – Circa £50,000

Location – West Yorkshire

Industry – Insurance, Underwriting, Motor

Role Overview

To underwrite within prescribed authority levels by analysing, evaluating and rating new and renewal portfolios as well as reviewing individual queries raised by the operational teams. ensuring all processing and policy preparation is accurate and compliant under the guidance of the line manager and Head of Underwriting. Support the company strategy and objectives

Principle Responsibilities

• Awareness of and compliance with ethical, legal and social responsibilities as an employee,
• Confidentiality maintained when appropriate.
• Demonstrate high degree of loyalty to the Company, its customers and objectives.
• Ensure all group underwriting philosophies and procedures are followed according to Company and market conditions.
• Ensure products are designed with the customer in mind, offer value for money, are fairly priced with suitable cover and are fully compliant with all key features presented and no unreasonable post-sale barriers
• Work with the line manager to identify key individuals whose support and involvement is required to accomplish key tasks.
• With the support of the line manager, establish relationships that will enable the jobholder to call upon key individuals for information and/or support.
• To liaise with administrator or customer to review pricing requests, make any suggestions necessary to improve the request from an underwriting perspective, and then to provide all necessary information to group’s Actuarial / Pricing Department to enable them to properly price the product.
• To work with group’s Actuarial / Pricing personnel to review their pricing calculations and to ensure that the prices calculated are appropriate in all respects for the products requested.
• To respond to all internal and external underwriting and claims related queries relating to programmes and to involve other group Departments (e.g. Claims or Actuarial / Pricing) as necessary before issuing a response.
• To carry out a monthly review of underwriting performance on programmes and to identify in writing key movements arising each month and any action required as a result.
• To work with the Pricing / Actuarial Department to produce quarterly updates of the expected ultimate loss ratios on programmes within the area of responsibility.
• Work with the line manager to conduct annual reviews of programmes to ensure that any changes in customer requirements are identified and new premiums are calculated and communicated to the customer / administrator at least 60 days before the review date.
• To maintain a constant focus on the underwriting profitability of all programmes with a view of achieving company profit objectives (subject to any decision having been made to accept a lower return on individual programmes), carrying out appropriate remedial action where required.
• To ensure that all direct insurance contracts/booklets and all reinsurance inwards and outwards contracts programmes are prepared and finalised on an efficient and timely basis within a maximum of 14 days of launch and ensure that such contracts comply with company standards.
• To identify improvements in systems and procedures both within the company and its partners.
• To ensure that assigned equipment is operated in a way that ensures data confidentiality, adequate data back-up, and adherence to any other standards that may be applicable.
• Other duties may be assigned in order to meet the on-going needs of the organization

Personal and Professional Development

• Willingness to study towards professional qualifications if not held already.
• Attend internal and external training courses, as required, in order to further develop appropriate business, negotiation and business skills.
• Maintain and update a detailed knowledge of all group products.
• Provide support for product development activities as and when required by the business
• Identify personal development needs together with your line manager in order to be more effective in the role.

Skills & Attributes

• Excellent verbal and written communication
• Excellent presentation skills with an ability to present group training material to small / medium sized groups in the dealership
• Demonstrate the ability to develop and increase product performance within the client group
• Demonstrate the ability to identify and successfully gain support to group product lines
• High level of computer literacy/IT skills including the ability to effectively use MS Office products (specifically, Word, Excel and Power Point)
• Positive, flexible, resilient and capable of working using own initiative
• Excellent people skills and a team player with a high level of customer focus and the ability to motivate, coach and develop individuals to support sales initiatives and be able to improve the performance of the sales team
• Strong organisational and planning skills and to be able to establish priorities so that results are delivered, and deadlines are met
• Ability and experience of working within a team as well as alone
• Strong inter-personal skills
• Enjoys new challenges, and learns quickly
• Honest, reliable, hardworking
• Committed to high standards of customer care
• Self-motivated, experienced in multi-tasking and meeting deadlines
• Effective in time-management
• The ability to keep abreast of product knowledge in respect to all group and competitor products, both current and any newly introduced.
• The skills and ability to keep abreast of and adapt to regulatory requirements.

Qualifications, Experience, Competence:

Qualifications

•  
• Certificate in Insurance or progress towards Diploma in Insurance or above is desirable.
• A level Maths Grade C or better desirable.

Experience

Minimum of 5 years underwriting or claims experience in an underwriting or reinsurance environment is essential.

Proven experience in:

• Decision making at class underwriter level; desirable
• Analysis of insurance trends and portfolios desirable
• Operational implementation of underwriting decisions; desirable
• Financial acumen relating to insurance performance on an underwriting and financial year basis; desirable
• Risk analysis understanding management information relating to performance at a granular level; desirable
• Verbal & numerical reasoning skills in top 2 deciles; desirable
• MS Office competence essential

Functional/Technical Competencies

• Able to work with Underwriting & Actuarial colleagues to review pricing calculations and implement agreed pricing structures alongside agreed policy terms and conditions.
• Underwrite and price risk.
• Understand the impact of customer behaviour on performance.
• Understand the different aspects of risk selection and how they are influence by distribution channels.
• Understand technical insurance matters relating to policy terms and conditions.
• Understand insurance and reinsurance contracts.
• Understand market regulation and its impact on the business.
• Understand core business processes.
• Operate in accordance with the Underwriting Standards and Controls. Supporting the Head of Underwriting through the review and administration of core underwriting processes, such as the Risk Recording Register

For extra Information please Contact:-

London: 0203 411 8430

Email: admin@lawesgroup.co.uk