The role
ERS is a leading underwriter of a wide range of specialist motor insurance products. Within ERS’s strategy of being the UKs leading specialiast 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 Regional Trading Underwriters primary responsibilities are for the execution of our underwriting strategy and underwriting appetite, and materially contributing to the achievement of our short and medium term financial plans. The Regional Trading Underwriters role is responsible for driving the performance of a selected number of brokers portfolios often located in the broker’s office to extract the budgeted revenue whilst meeting our budgeted loss ratios. This is achieved through superior underwriting and pricing skill and honed negotiation skills
Work with the Head of Underwriting / Product Manager to define and deliver the Regional Underwriting Model, including how and who best to engage with the brokers and what the optimum business model is to deliver our financial plans.
The role is highly market visible, involving extensive broker contact when communicating our strategy, managing the financial performance of existing relationships and in seeking to broaden our market penetration.
Success in the role requires extensive technical expertise in our product 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
- Work with the head of segment to define and agree the Regional Underwriting business model and execute this in line with plan to ensure that maximum value is extracted from the region and broker panel
- Identify a panel of brokers to support our business model and ensure optimum coverage for the region
- Underwriting a range of complex, unusual and non-standard risks in accordance within our stated underwriting appetite. You will also provide input and feedback such that we constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix
- Meet or exceed our financial plans for the individual broker panel and finding new opportunities to deliver profitable growth
- Establish a firm reputation for being the ‘go to’ Underwriter for your region / brokers
- Providing input to the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise and being responsible for executing that underwriting strategy.
- Contributing to the management of portfolio performance through the analysis of results, execution of our selection and pricing strategies and providing recommendations as to actions which will drive continuous performance improvement, thus ensuring that we will meet or exceed our financial plans
- Provide feedback to Product Managers and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing
- Working closely with all areas of the business to ensure that we deliver a clear and seamless set of propositions to the market.
- Understanding the risk environment in which we operate. Contribution to the identification of and helping to manage the key risks which threaten the success and sustainability of our business.
- Using audit and peer review tools, complimented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure that all business is being written in accordance with our stated underwriting authorities, agreed processes and in compliance with our regulatory and conduct standards.
- Use existing market knowledge to establish and continually enhancing a range of business relationships with our key partners, ensuring that we understand and satisfy their needs and those of their customers
- Ensuring that at all times, we operate in such a way which is consistent with all legal and regulatory provisions. We are a business which takes our stated values and behaviours seriously and are absolutely committed to acting at all times in ways which are ethical, compliant and appropriate.
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 strategic and financial responsibility as well as being recognized as a market leading subject matter expert in our product(s). We therefore require our role holders to demonstrate leadership and management capabilities and to possess the following skills, attributes and knowledge:
- 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)
- Strong portfolio management skills with the ability to manage the financial performance of a range of product propositions in a complex and competitive market.
- To demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally
- Commercially aware with strong negotiation skills
- Possess extensive commercial awareness, being able to spot and take advantage of opportunities and to fulfil their role in a way which enhances our financial performance
- Detailed 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
- Interpersonal skills which will allow you to build and maintain value adding relationships. You must be able to articulate what a mutually beneficial relationship looks like and be comfortable having difficult conversations with business partners and colleagues
- Extensive knowledge of and experience in a sophisticated underwriting control environment which allows us to execute first line of defense activity, with a focus on constant performance improvement
- Extensive knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market
- The ability to maintain high levels of personal motivation whilst working remotely from office
The combination of these skills, experiences and knowledge will ensure that you are able to materially contribute to the development of our underwriting strategy and risk appetite and to the achievement of our short and longer term financial plans.
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.
