General
Exciting opportunity to join Beazley’s successful Cyber Risk team. We are looking for an enthusiastic underwriter with strong technical ability and a service-focused mind-set who enjoys business production and building relationships..
Job description and person specification
Job Title: Underwriter – Cyber Risks
Division: Cyber Risks
Key Relationships: Brokers, underwriters, claims staff, coverholders, external clients and suppliers
Job Summary: To underwrite a Cyber & Technology account within the Cyber Risks division 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 Cyber & Technology business, comprising middle market and large accounts, as part of the Cyber Risks 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 Cyber & Technology account.
§ Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team.
§ Comply with the Group’s minimum underwriting standards for business written through Lloyd’s, Beazley Insurance Company Inc or other Beazley entities.
§ Develop a good working relationship with the claims managers on this class of business.
§ Operate as a senior member of the team, providing internal support and handling key broker relationships.
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 retail and wholesale brokers.
§ Maintain awareness of overall Beazley product range and take advantage 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 Cyber Risks team and across the company
§ Work with peers within Cyber Risks 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 Cyber & Technology account as required
It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – 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 which incorporates the PRA and FCA Conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
§ 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.
§ Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
§ Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Personal Specification:
Skills and Abilities
§ General commercial and financial knowledge
§ Possess underwriting ability
§ 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
§ Motivational skills, team worker as well as able to work on own initiative
§ Ability to manage time, meet deadlines and prioritise
Knowledge and Experience
§ Experience of Cyber & Technology underwriting
§ Thorough knowledge of underwriting policy, philosophy and practice
§ Advanced knowledge of underwriting processes and systems
§ Client service experience
Aptitude and Disposition
§ Results focused, self-motivated, flexible and enthusiastic
§ Professional approach to interact successfully with managers/colleagues/external suppliers
Competencies
§ Achievement drive
§ Analytical thinking
§ Strategic thinking
§ Service focus
§ Team working
§ Conceptual thinking
§ Forward thinking
Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is 135K - 170K per year plus profit related pay and discretionary annual bonus. You will be able to discuss your salary expectations should you be contacted about this role.
Don’t meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.
This document is subject to review after consultation with your Manager.
