About us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.
The role
(Hybrid working - 3-Days in office requirement)
ERS is a leading underwriter of a wide range of specialist motor insurance products. Within ERS’s strategy of being the UKs leading specialist motor insurer, our focus is on delivering sustainable, high margin growth in these segments through the provision of high-quality propositions to a wide range of broker partners.
The Senior Underwriter’s primary responsibility is to write a range of medium to complex risks within the products risk appetite and within own individual underwriting authority. You will also act as a referral point for team members with a lower level of authority helping to develop their technical knowledge and understanding.
The role is market visible which will see you working closely with our broker partners and forming solid trading relationships, these relationships will help ERS achieve their short- and long-term financial plans by seeking to broaden our market penetration.
Success in the role requires technical expertise in our product(s) and frequent collaboration with other business functions to ensure that we leverage capabilities from across the business in delivering first class propositions to our chosen market.
Key responsibilities
- Contributing to the execution of the underwriting strategy for the Class of Business, working within the agreed risk appetite and own individual authority to process quotes, renewals, Mid-term adjustments and cancellations.
- Providing input to the development of our underwriting appetite for our product(s) based on your market knowledge and product expertise to take advantage of market opportunities.
- Assisting in the management of portfolio performance through the analysis of results and the ability to make recommendations which will drive continuous performance improvement.
- Supporting the Team Leader and Operations Manager to create a high-performance culture by demonstrating role model behaviours.
- Work with the operational leadership team & technical training team to help identify training needs and support employee development through feedback, coaching and training to improve team competency and performance
The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Essential qualifications, skills and experience
- This role carries financial responsibility as well as being recognized as a subject matter expert in your product(s). We therefore require our role holders to demonstrate technical expertise and to use commercial judgment in the fulfilment of their role.
- An understanding of underwriting strategy and risk appetites and ability to operate within these.
- Possessing extensive technical knowledge of the product(s), including the features of the product, factors that drive product performance, market dynamics which influence how the product is delivered and the requirements of customers using the product(s)
- Underwriting, risk selection and pricing skills which will ensure that we optimize the financial performance of a range of product propositions in a complex and competitive market.
- Possess an understanding of pricing practices and methodologies with the ability and experience to help us constantly enhance our pricing capability, providing insight and feedback on our pricing models
- Possessing interpersonal skills which will allow you to build and maintain relationships. Being able to articulate what a mutually beneficial relationship looks like and being comfortable having at times challenging conversations with our broker partners.
- Having knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market
- Strong interpersonal and relationship building skills
Benefits
- Competitive Benchmarked Salary
- 25 days holiday
- Discretionary bonus scheme
- Employee assistance programme
- Annual holiday buy (up to 3 extra days)
- Salary sacrifice benefits
- Annual benefits reviews
- The option for professional qualifications and study support
Additional Information
- A full job description can be seen here.
