Insurance Underwriting Specialist
5 days ago
We are looking for a seasoned Insurance Underwriting Specialist to join our team at JustTheJob. As a Senior Underwriter, you will play a critical role in our Professional Indemnity department, where you will be responsible for evaluating and managing risk.
Main Responsibilities:
- Evaluate insurance proposals for new and renewal business, gathering and assessing background information, conducting necessary research, and determining the suitability of the risk.
- Calculate possible risk and determine appropriate insurance premiums using underwriting tools and practices, underwriting information and own judgement and experience.
- Quote within designated authority levels and refer where necessary in accordance with company policy and technical guidelines.
- Monitor portfolio performance and ensure that renewals, new business, and lost business are tracked and that the cancellation reserve does not exceed 2.5%.
- Set accurate, realistic premium forecasts and draft financial reporting as required in a timely manner to enable management to set budgets and monitor performance targets for your own portfolio of accounts.
- Articulate complex technical information and deliver training sessions to internal stakeholders and external partners.
- Collaborate with junior underwriters to develop their skills and knowledge in underwriting and renewal negotiations.
- Enter accurate data into company systems and generate management reports that provide valuable insights into risk exposure.
- Contribute to continuous improvement initiatives aimed at enhancing the effectiveness and efficiency of the department.
- Take on additional responsibilities as required by the U/W Head or Manager to support the team's objectives.
- Utilize advanced underwriting methodologies to inform strategic decisions and drive business growth.
- Develop and implement best practices in underwriting, ensuring compliance with regulations and industry standards.
- Promote a culture of excellence and quality within the team.
- Manage relationships with brokers and clients, providing exceptional service and support.
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