Assistant Underwriter - Fine Art & Specie, Business Solutions

The role holder will be responsible, with underwriter support, for reviewing, pricing and analysing enquiries sent to the team, and then responding to brokers with indications of SCOR’s Terms be they acceptance or declinatures ; as well as agreeing endorsements to existing policies. The role will support the underwriting function through risk assessment, broker engagement, portfolio monitoring and underwriting decision-making within delegated authority levels.

 During an initial transition period, you will support both underwriting and underwriting administration activities. As certain operational and administrative tasks are transferred to dedicated underwriting support resources, the role will become increasingly focused on underwriting analysis, broker engagement, portfolio management and underwriting decision-making within agreed authority levels.

Required experience & competencies

Essential

• Experience within an underwriting, assistant underwriting, underwriting support, broker, or insurance operations role.
• Demonstrable understanding of commercial insurance underwriting principles, including risk assessment, pricing methodologies, policy structures and underwriting controls.
• Experience reviewing and analysing new business, renewal and endorsement submissions.
• Strong numerical and analytical skills, with the ability to interpret underwriting information, premium calculations and exposure data.
• Experience working within underwriting authorities, guidelines, referral frameworks and compliance requirements.
• Ability to exercise sound judgement and make underwriting decisions within delegated authority levels.
• Strong organisational skills with the ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Excellent written and verbal communication skills, with experience liaising professionally with brokers, clients and internal stakeholders.
• Strong attention to detail and commitment to data accuracy, record keeping and regulatory compliance.
• Proficiency in Microsoft Office applications, particularly Excel, Word, Outlook and PowerPoint.

Desirable 

• Experience within the Lloyd's and/or London Market.
• Experience underwriting or supporting commercial or specialty insurance classes.
• Experience providing quotations, indications, endorsements and policy amendments.
• Familiarity with aggregation management, exposure monitoring and portfolio reporting.
• Experience using underwriting, rating and policy administration systems, particularly Xuber.
• Experience attending broker meetings and developing broker relationships.
• Knowledge of Lloyd's market systems and processes.
• Experience within an international insurance or reinsurance environment.
  
   

Personal Competencies 

• Outcome focused, self-motivated, flexible, enthusiastic
• Professional approach to working with key stakeholders at all levels of authority
• Organised
• Demonstrate ability to manage time, meet deadlines and prioritise effectively
• Proactive with drive to succeed
• Uses initiative and common sense
• Approachable
• Strong communication skills verbally, in writing and via email and telephone
• Team player as well as capable of working on own initiative

Education & Qualifications 

• Educated to A-Level standard, or equivalent qualification and/or relevant insurance experience.

• ACII qualified, or actively working towards completion of ACII qualifications.

Desirable

• A relevant university degree or equivalent professional experience.

• Completion of the Lloyd’s Market Test.

• Additional qualifications in insurance or financial services.

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Underwriting Support:

• Underwriting within guidelines of Letter of Authority and Syndicate Guidelines for NBIs, renewals, new business and endorsements as applicable. 

• Contract certainty checks on all lead slips

• Ensure KYC is up to date on all SCOR Europe business

• Review and rate all enquiries to obtain adequacy ratios

• Know the referral criteria and ensure all underwriters have referred relevant risks to relevant reviewers

• Know sanctioned risks and refer to Compliance team if required

• Photocopying, filing and archiving of key documentation in a timely manner as required

• Ensure calculations of premiums and local taxes are accurate for reporting requirements.

• Ensure timely scanning of core risk documentation to relevant folders or document management systems

• Data verification and integrity checks

• Liaise with the Underwriter as required to ensure contract wording is fit for purpose

• Research submissions using appropriate sources

• Work with the credit analysts to discuss the financial position of obligors on relevant risks 

• Track the live status of all risks through every stage in the risk cycle 

• Monitor upcoming renewals and risks in the new business pipeline

• Attend SCOR’s Lloyd’s box to service brokers submissions and endorsements, and negotiate policy terms

Broker/Client Interaction :

• Provide a professional service to brokers, clients and external suppliers in person, writing, email and telephone

• Maintain and develop broker relationships, responding to queries in a timely fashion

• Prepare for, attend, and take minutes at client meetings as required

• Liaise with brokers to ensure all slips and additional information received is accurate and complete

Reporting & Operational Requirements:

• Provide accurate management information to the Underwriting team and senior management when required.

• Monitor and relay to the whole Team, the constant movements of the Team’s Aggregation Exposre to the following… Nat Cat, Man Made Cat and single premises exposure. Produce ad hoc reports, presentations and other team literature for key relations as and when requested

• Monitor and chase brokers for all credit control aged debt ensuring the timely collection of premiums

General Requirements:

• Identify and report problems within the underwriting administration system and assist with solution design.

• Assist with User Acceptance Testing of the underwriting administration system as and when required.

• Interact with all SCOR teams including claims, finance, operations and compliance on matters affecting or related to accounts within the team’s portfolio

• Help maintain SCOR minimum standards by assisting Underwriting Assistants in achieving their service levels and targets as required

• Participate in cross-team projects as required

• Undertake any other reasonable duties as may be requested by SCOR staff

• Comply with SCOR policies, procedures and regulations relevant to your role

• Manage training needs through attendance of relevant training as advised by your line     manager and also market presentations where relevant to your role

• Carry out additional responsibilities as defined through your objectives

• Uphold the principal of Treating Customers Fairly

Finalities

Contributes to the Company’s result by:

• Guaranteeing that the underwriters have accurate and up to date information to assist them in performing their dutie

• Contributing to the team’s targets through effective and quality Underwriting within agreed limits.