Underwriting Assistant

Job Specification: Underwriting Assistant

Title: Underwriting Assistant

Reports to: Senior Underwriter, Cargo and Specie

Annual Salary: £26,000 - £28,000

Urgency: Immediate start/4 week Notice period/team expansion rather than replacement. Preferably start Q4 2024.

Employment Type: Permanent

Experience Level: Entry level

Primary Purpose of Job:

To assist Underwriters in the day-to-day administration and maintenance of the class of business. Ensure that records are accurate and completed on time.

Key Tasks and Review Frequency:

• Entry of underwriting risk data into underwriting system, including setting up new risks, amending, and completing entries.
• Efficient entry of aggregates and regular monitoring of team exposures and accumulations.
• Attaching and organizing documents on document library system.
• Keeping files up to date and organized appropriately.
• Monitoring reports for incomplete risks and error items, then correcting and/or chasing Underwriters or Brokers for information.
• Binder and Lineslip Management - Entry of bordereaux, management of monthly or quarterly bordereaux reporting and chasing Brokers and/or Coverholders for outstanding information.
• Compliance checks where required.
• Monitoring risk renewal reports and liaising with brokers for updates about upcoming risks.
• Assist team with other reporting, preparation for meetings and general administrative tasks.
• Build and maintain good relationships with brokers and clients, as appropriate, to deliver high quality service and value to customers.

Key Skills:

• Excellent written and verbal communication skills. Ability to interact effectively with team members and internal/external contacts.
• High level of accuracy, numeracy, and organization.
• Confident and professional attitude, capable of dealing with all levels within the company.
• Efficient and effective team member with a keen desire to learn and contribute to team goals.
• Commitment to order, clarity, and confidentiality in work presentation. Demonstrates dedication to the organization, team, and role.
• Ability to use initiative and adapt to various tasks.

Additional Skills:

• Understanding of the business, its culture, values, and strategic objectives.
• Ability to communicate core culture and values across the company.
• Marketing and presenting the company to brokers, clients, capital providers, and prospective business partners.
• Establishing and maintaining relationships with senior partners and peers across the market, including Lloyd's and LMA.

IT Knowledge:

• Proficiency in Microsoft packages (Word, Excel, Internet software).
• E-placing experience (if experienced in the Lloyd's market).

Conduct Standards:

The following conduct standards prescribed under the Senior Managers & Certification Regime are applicable to the role:

• Act with integrity.
• Act with due skill, care, and diligence.
• Be open and cooperative with the FCA, the PRA, and other regulators.
• Pay due regard to the interests of customers and treat them fairly.
• Observe proper standards of market conduct.

Prescribed Responsibilities:None

Cargo and Specie 4020:

The Cargo team operates within the Lloyds of London Cargo market, underwriting from a ground floor box in Lloyds, offering various insurance solutions to manufacturers, distributors, and logistics providers for all types of interests being shipped and stored around the world. Coverage is provided for a wide range of interests from foodstuffs, to autos, to domestic goods, to bulk commodities like wheat and oil, to satellites, through all stages of the manufacturing process. This includes all types of raw materials through to the finished products seen on the shelf.

Knowledge of specific interests, inherent risks associated with those interests, geographical exposures, and political environments through which goods are traded is crucial for providing insurance and underwriting successfully. The team trades with all major broking houses and focuses on maintaining good relationships with brokers to provide excellent service to a diverse client base.

The above contains the main outline of your duties. However, it is inevitable that tasks may arise which do not fall within the remit of the above list.