About us
Avencia Consulting are recruiting on behalf of a newly created MGA based in the City, who are looking to hire an Energy Assistant Underwriter to join, reporting directly into the CEO.
The role
The primary purpose of this role is to assist in underwriting a portfolio of (re)insurance business covering renewable technologies with a global remit.
The role further includes analysing and maintaining the accuracy of all submission data captured, policy information and the company's records, with the ultimate goal of ensuring that the company and its capacity providers' interests are properly managed and protected.
Key accountabilities
- Report Production
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Provide input for the production of underwriting reports.
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Assisting with word processing, documentation, and database requirements.
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Monitor and report contract performance on a quarterly basis.
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Producing timelines and reviews of projects.
- Team Support
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Provide technical and administrative support to the Underwriting Team.
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Develop procedures and practices that improve the Team's efficiency.
- Underwriting Support
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Supporting the pre-underwriting process focusing on the review of historical performance, policy wordings, and pricing adequacy based upon predefined underwriting rules and/or guidelines.
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Participate in the underwriting process, including a daily underwriting review, assisting in the evaluation of submissions, analysing and interpreting exposures, determining coverage and contract language, as well as evaluating and prioritising preparations.
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Scanning and accurately filing all submission data and related documentary information, as provided by brokers and clients.
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Reviewing the various underwriting and system generated reports on a regular basis so that you can become aware of unusual trends and/or adverse movements. These can then be escalated, and appropriate action taken to correct and improve erroneous or incomplete data.
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Enhancing and refining of risk modelling pricing tools and pricing methodologies.
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Expanding existing portfolio of business by developing existing relationships and new prospective clients through visits, entertainment, and conferences, as appropriate.
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Attending brokers meetings and client presentations as required to build and maintain broker and client relationships. Establish new links to the broking community and reinforce those that currently exist.
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Reinforcing relationships with capital providers.
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Working closely with all group departments and connected third parties to obtain and provide information as required.
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Monitoring market developments and remaining current in relevant classes of business, and legislative and regulatory changes.
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Ensuring accuracy and integrity of underwriting data in underwriting systems.
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Adhering to group underwriting procedures, controls and systems under remit, and any report trigger or alert factors that have the potential to impact negatively on the reputation or financial position of the company.
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Monitoring and following up on payments for outstanding premiums and liaising with the business on credit control, where appropriate.
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Perform pre-analysis support for submissions, endorsements, and other incoming documents based upon predefined underwriting rules and/or guidelines.
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Preparing quotes, policies, and endorsements for review by the CEO / team in an accurate and timely manner.
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Ensuring awareness of and compliance with internal and external underwriting regulations, liaising as appropriate with external bodies such as brokers, clients, auditors, and regulators, as required.
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Liaise with the placing broker throughout the underwriting cycle and policy period to ensure receipt of all necessary documents and manage any credit control issues.
Skills & experience
- Bachelor's Degree or an equivalent insurance-related qualification (i.e. ACII, etc.)
- Minimum of 2 years' (re)insurance industry experience in either a broking or underwriting capacity.
- Knowledge of commercial insurance and regulatory requirements.
- Knowledge of actuarial modelling techniques and familiarity with pricing tools.
- Strong negotiation skills and proven ability to effectively communicate financial data and information.
- High level of numeric competency, combined with the ability to perform detail-oriented qualitative review.
- Demonstrated ability to deliver and manage accurate, thoughtful, detail-oriented work within tight deadlines.
- Able to work flexibly to meet business needs in a fast-paced environment, including working outside of office hours as required.
- Good organisational and analytical skills with an ability to prioritise and effectively manage workload while maintaining a high level of accuracy, professionalism, and confidentiality.
- Strong proficiency in the Microsoft Office Suite of applications (particularly Excel, Word, Outlook) and experience with spreadsheets and database processing programs.
- Team player with strong work ethic and a strong interest in the performance of the business.