Development Underwriter
Company
NMU Specialty
Location
Birmingham
, United Kingdom
About us
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.
Development Underwriter – Level 1
We are looking to employ a Development Underwriter to be based in the South West of England 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.
NB: we are considering candidates in a range of locations for this role (outside of London)
The Role
- Where requested by Underwriting, assist in the negotiation of terms and conditions consistent with Commercial and Underwriting strategies, in respect of:
- Strategic renewals.
- New business.
- Where requested by Underwriting, assist in the negotiation of new & renewal business, make considered, intelligent, and complete recommendations to Line of Business Managers, where appropriate.
- Act as a referral point for Brokers and or internal Underwriters on appropriate underwriting and/or Commercial matters.
- Act as a relationship guardian, proactively developing and maintaining commercially successful relationships with allocated intermediaries through a high level of visibility and using a disciplined sales management approach, including:
- Maintaining a structured performance review and visit plan for assigned brokers.
- Structured planning, preparation and follow up for all broker visits.
- A personal plan for assigned brokers in conjunction with the Distribution strategy to identify and capture new business opportunities and, to effectively cross sell all products, utilising CRM to build long term strategies to target and win new business.
- Consistently achieve superior financial results (retention, pricing, new business, profitability) through execution of Commercial strategy, in conjunction with the agreed Underwriting strategy.
- Assist in agency management and review/processing of new agency applications.
- Oversee promotional sales presentations for brokers, where appropriate.
- Work collaboratively with Brokers and/or the relevant Finance Department with regard to Credit Control matters.
- Continually seek out and share:
- Market insight, including product developments and enhancements, also proactively engaging with the Product Delivery Team
- General knowledge of the local insurance marketplace and effectively use that knowledge to the Company's advantage.
- General knowledge of industry business operations and work methods, critical business issues and financial drivers that affect different Lines of Business.
- Support and promote the company social media presence and marketing initiatives.
- Agree with your manager a Broker visiting plan.
- Actively look to suggest, organise and attend (as required) appropriate broker engagement events. Actively look to attend as many appropriate broker and industry organised events as possible.
- 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.
- Undertake other duties as directed within the job function.
What we are looking for
An individual to achieve and maintain a profitable, well balanced and growing portfolio with assigned brokers and customers to assist in meeting long-term trading objectives of the Company.
Understand, execute and support delivery of the agreed Commercial and Underwriting strategies, across all Lines of Business, to produce budgeted, profitable results.
Key Skills & Experience
- Thorough level of underwriting knowledge in respect of at least one of the company’s existing lines of business.
- 3+ years of relevant experience in the Insurance industry.
- Strong understanding of technical underwriting, philosophy and trading strategies.
- Ability to interpret and effectively use management information
Key Relationships
- Internal relationships with Directors, Function Heads, Sales & Development Manager, other Managers, team members, Underwriters, the Claims Department and the Syndicate.
- External relationships with a range of contacts within the allocated intermediaries and customers.
Qualifications
- Diploma in Insurance (Chartered Institute of Insurance) or substantial progress towards is preferred.
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.
Push Boundaries. With us. | Munich Re
