Manchester , United Kingdom
At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.
MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.
As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.
Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.
Underwriter – Private Clients
We are looking to employ an Underwriter to be based in Manchester/Leeds/Birmingham and to work with us on a Full-Time basis.
If you’d like to work within an energetic, fun and collaborative team atmosphere where you can make difference, we’d love to hear from you.
- Underwriting new business, MTA’s and renewals in line with company underwriting authority.
- Review of underwriting referrals for more junior members of staff
- Proactively managing your own regional broker panel
- Seeking out and developing new opportunities for the business
- Working on additional projects to help the enable the continued development of the proposition
- Building new broker relationships and working with them to continue to grow their accounts in line with company profitability targets and business plan.
- Working closely with brokers to manage their portfolio, including; reviewing of MI, promoting cross-selling, visiting their offices to undertake business planning meetings and being the first point of contact for all broker queries.
- Working closely with internal colleagues and external parties in assisting with the development of new products, including; wordings, documents, UW appetite, system logic, etc.
- Reviewing of internal KPI’s (NLR, conversion/retention, ILF) to identify positive/negative trends and working with the necessary people to implement the required changes in order to continually maintain profitability and adherence to the company risk appetite.
- Monitoring developments in the insurance market or other industries and identifying innovative technologies which could substantially improve the customer journey.
- Other ad-hoc tasks as required by the business
This role has a direct impact on our customers’ satisfaction and how they perceive the quality of our products and services. You must therefore adhere to the following principles: -
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
- Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.
- You will collaborate with team and management to implement the organisational vision, operational requirements and direction in line with the overarching strategy
Measures and Controls
- You will monitor performance against targets and prepare reports where required
- You will drive forward good conduct for the business to deliver the best outcomes for customers/policyholders
- You will understand and implement all appropriate lines of escalation within MRSI and the wider business
What we are looking for
The primary objectives of this role are to act as a risk underwriter for Private clients business transacted via our panel of broker partners. Your focus will be on growing the business, focusing on new business and MTA’s, which are referred either directly from our brokers or which come via the broker platform and require specific risk underwriting. Initially the role will focus on Property but will include HNW Motor, Overseas Holiday Homes and other products as we continue to develop.
You will work closely with our broker partners to build sustainable, profitable books of business and work with the Strategic Relationship Manager and other internal stakeholders to manage broker portfolios, undertake reviews of MI and promote cross-selling of other business lines in order to fully maximise their potential.
Given the location of the wider team you will largely be required to work independently and manage your own work loads and be proactive in developing and managing your own broker panel in agreement with your manager.
You will also be involved in the wider development of our proposition to continue to enhance our offering. This will include involvement with policy wordings, external TPA partners (surveyors, valuation companies, security/water leak detection, etc) and new projects such as Flood Re as required.
Key Skills & Experience
- Industry knowledge of the Personal Lines market
- Proven knowledge and understanding of all company specific procedures that relate to own role and role of those employees that you are supervising
- Excellent organisational skills
- Proven grasp of data analysis and performance metrics
- Ability to problem solve quickly and proactively
- FCA principle-based regulation and relevant insurance law
- Lloyds Minimum Standards
- University Degree and/or relevant professional qualification
Your career with us
At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!
Diversity & Inclusion
Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.
Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.