General
Job Title: Underwriter
Division: Property
Reports To: As per Beazley’s organisation chart
Key Relationships: Brokers, underwriters, claims staff, other staff, coverholders, external clients and suppliers
Job Summary: To underwrite a Commercial Property account and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain market reputation of the Beazley brand.
FLSA: Exempt
Key Responsibilities:
Underwriting
- Develop and underwrite a profitable portfolio of Commercial Property business as part of the Property 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 and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Property.
- Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc 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.
- 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.
- Work with peers within Commercial Property and the broader Property team 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.
- Production of presentations and marketing literature 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 this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.
- Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
- Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development 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 Talent Management 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:
Education and Qualifications
- Minimum graduate level education
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
- Good people management skills
Knowledge and Experience
- General commercial and financial knowledge
- Extensive experience in insurance industry
- Extensive experience of Commercial Property underwriting
- Thorough knowledge of underwriting policy, philosophy and practice
- Advanced knowledge of underwriting processes and systems
- Client service experience
Aptitude and Disposition
- Result focussed, 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 orientation
- Analytical thinking
- Strategic thinking
- Service focus
- Team working
- Forward thinking
- Developing people
- Conceptual thinking
The rewards:
- The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
- Attractive base compensation and discretionary performance related annual bonus
- Competitively priced medical, dental and vision insurance
- Company paid life, and short- and long-term disability insurance
- 401(k) plan with 5% company match and immediate vesting
- 22 days annual PTO (full-time, prorated for 1st calendar year of employment), plus paid public holidays with the ability to flex the religious bank holidays to suit your religious beliefs. Additional PTO purchase is available up to a maximum of 5 days per calendar year.
- Up to $700 reimbursement towards home office setup
- Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance in support of your wellbeing
- The opportunity to save for, and purchase, shares of Beazley stock
- Six months fully paid parental leave, regardless of how you come to parenthood
- Company paid sabbatical up to 12 weeks after 10 years of continued service
- Support with exam/study leave and fees for relevant qualifications related to furthering education
- Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually
- Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business
Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is 100k - 145k per year plus discretionary annual bonus. You will be able to discuss your salary expectations should you be contacted about this role.
This document is subject to review after consultation with your Manager.
