Underwriting

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Due to growth ambitions, we are looking for a Senior Underwriter to join our Power & Utilities team. In this role you will be responsible for helping managing the profitability of the book by underwriting and processing new business, renewals and midterm adjustments, monitoring rate adequacy of all business written or handled for the Line of Business. You will ensure that the strategy is executed and reviewed and performance and results are monitored, reviewed and reported upon as required. As a Segment Expert, the role requires continuous learning and knowledge updating to maintain expertise.

Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.

This role is eligible for a £2,500 new joiner bonus. If you are successfully referred by an employee at Travelers Europe, both you and the person who referred you could be eligible for this bonus.

What Will You Do?

• Manage the underwriting of a particular Line of Business.Support the overall profitability, growth and retention of the Line of Business line and consistency of all related underwriting initiatives.
• Ensure that the business is written in accordance with the Company's policies, procedures and controls (including audit requirements) at all times, and adheres to Lloyds Underwriting Management Standards ensuring business is only accepted in accordance with: individual underwriting authority where relevant, with approval under the Lloyd's Individual Registration Byelaw and the Unit's business plan for the relevant year.
• Support the development of assigned Line of Business and services such as researching and identifying the target business, competitor information, industry and economic factors across the business.
• May utilise appropriate systems to accurately enter quotes, risks and endorsements, so as to ensure correct management, statistical and regulatory reporting.
• May prepare the analysis and gather data to support the professional execution of corporate/business underwriting policies/standards.
• Work closely with other business functions to allow optimum use of resources available with the organisation.
• Monitor Line of Business results (i.e. line profitability analysis, quarterly loss trends, utilisation/productivity, etc.) and make recommendations for corrective action as necessary.
• Monitor market factors and world affairs as part of research and development of new opportunities.
• Promote Travelers' Line of Business, distribution strategy and philosophy and provide guidance on the Company's underwriting philosophy, procedures and requirements by building strong partnerships with Agents, Brokers and Customers.
• Provides guidance, mentoring and coaching as appropriate.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Degree Education preferred.
• Thorough knowledge of industry business operations and work methods, critical business issues and financial drivers that affect the Line of Business.
• Thorough knowledge of the local insurance marketplace and effectively uses that knowledge to the Company's advantage; continuously seeks out local market insight.
• Routinely sought out by others as a knowledge resource; coaches / mentors less experienced employees on an ongoing basis.
• Demonstrates full knowledge and experience in respect of Business Perspective: Uses knowledge of internal and external factors that impact the Lloyd's Market to make decisions.
• Demonstrates Intermediate knowledge and experience in respect of Analytical Thinking/Financial Acumen: Identifies current or future problems or opportunities, analyses, synthesises and compares information to understand issues, identifies cause/effect relationships, and explores alternatives to support sound decision making.
• Utilises understanding of finance and accounting principles to identify the impact of responsible underwriting decisions on the overall profitability of the business.
• Demonstrates full knowledge and experience in respect of Relationship Management: Seeks out, builds, fosters and maintains productive relationships or alliances to meet goals and achieve objectives.
• Makes sound quoting and pricing decisions that are in the Company's best interests.
• ACII qualification preferred.

What is a Must Have?

• Thorough underwriting experience in the Lloyd's and/or company market required.