Underwriter (Delegated Authority) London 2023

We have a great opportunity to join Beazley's international Specialties division as an underwriter in our International Specialty Programmes team. The role will focus on binders business across PI, D&O and Allied Healthcare within the SME space for non-US territories. The ideal candidate will have some experience within the professional liability classes, a commercial mind-set and the ability to build and maintain relationships. Fluency in one or more European languages in addition to English would be an advantage.

Beazley is a flexible and innovative employer offering a friendly, collaborative, diverse and inclusive work environment. We actively encourage and expect applications from all backgrounds. We empower people to choose where to work given the work they need to do. Collaboration in office spaces is important, but we do not mandate a set number of days in the office or from home – you decide what works best for you and your team. Beazley offers a competitive salary and bonus with a strong benefits package, including pension, commuting reimbursement, free in-office lunch, excellent parental leave, and financial, physical and mental wellbeing contributions.

About the role

Division

• Specialty Risk

Key Relationships

• Brokers, Underwriters, Claims staff, Coverholders, external Clients and Suppliers

Job Summary

• To underwrite an International Delegated account within the Specialty Risks division and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.

Key Responsibilities

Underwriting

• Develop and underwrite a profitable portfolio of International Delegated business as part of the International Specialties team.
• Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the International account.
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and International Specialties.
• Comply with Beazley’s underwriting control standards for business written through Lloyd’s or Beazley’s internal MGAs.
• Develop a good working relationship with the claims managers on this class of business.

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
• Maintenance of good business relationships with brokers.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

General

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
• Work with peers within International Delegated and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
• Production of business plans/research documents for the International Delegated account as required.

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.

Personal Specification

Skills & Abilities

• Proficient underwriting skills
• Accurate and numerate
• Computer skills – good working knowledge of MS Office, advanced Excel skills
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Ability to manage time, meet deadlines and prioritise
• Ideally European language(s) in addition to English

Knowledge & Experience

• General commercial and financial knowledge
• Experience in insurance industry
• Experience of international professional indemnity underwriting or broking
• Knowledge of underwriting policy, philosophy and practice
• Knowledge of underwriting processes and systems
• Client service experience

Aptitude & Disposition

• Result focused, self-motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker as well as able to work on own initiative
• Customer focused, with a strong ethic of service and fairness to the customer

Competencies

• Achievement drive
• Analytical thinking
• Strategic thinking
• Service focus
• Team working
• Forward thinking
• Conceptual thinking

Don’t meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.