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Form of work
SalaryJob Title: Property Underwriter
Location: Bury St Edmunds
Salary: Competitive
Role Overview:
An exciting opportunity has emerged for an experienced Property Underwriter to join our client's team of non-standard property specialists. We seek an individual with proven in-depth experience in residential property underwriting. The successful candidate will thrive in a dynamic and expanding new business team, contributing judgment, flexibility, and expertise.
Responsibilities:
- Negotiate with brokers, analyze insurance proposals, and underwrite risks in line with company procedures.
- Handle new business enquiries within allocated authority levels, following the company's underwriting guide.
- Develop and maintain strong relationships with key brokers, clients, and stakeholders.
- Act as a technical referral point for the New Business department, ensuring the sharing of technical expertise.
- Demonstrate professional communication, achieve contract certainty, and issue accurate policy documentation.
- Proactively support the acquisition of new business and represent the company externally.
- Support the development and execution of underwriting strategy.
- Report issues, concerns, and feedback to the relevant Associate Director.
- Recommend timely changes/updates to underwriting appetite, guides, pricing, and wordings.
- Stay informed about market developments and provide recommendations for action.
- Work towards set monthly targets, including profitability, GWP, conversion, quotes per day, turnaround times, and workflow management.
- Follow underwriting and pricing knowledge and guidance from the Senior Management Team to meet performance commitments.
- Comply with laws, regulations, and key regulatory, conduct, and risk management requirements in the insurance market.
- Utilize available actuarial information, statistics, and underwriting experience when considering acceptance, terms, and premiums.
- Make effective decisions when dealing with complex issues, justifying underwriting decisions and maintaining detailed and accurate records.
- Provide excellent customer service to build strong relationships with brokers.
- Act as the delegated underwriter for agreed brokers, offering a bespoke service when required.
- Undertake required training to ensure effective role performance.
- Authorise new business policies underwritten within the New Business Underwriting Team.
Key Result Areas:
- Consistent and professional communication
- Contract certainty and accurate policy documentation
- Proactive support for new business acquisition
- Positive representation of the company externally
- Support for underwriting strategy development and execution
- Timely reporting and recommendation of changes
- Achievement of set monthly targets
- Compliance with laws and regulations
- Effective utilisation of available information and underwriting experience
Skills and Competencies:
- Established underwriting experience and knowledge.
- Excellent communication and negotiation skills.
- Problem-solving ability and thinking outside the box.
- Comfortable working under pressure in a fast-paced environment.
- Strong interpersonal and relationship-building skills.
- Good market and competitor knowledge.
- Understanding of TCF principles and CIDRA.
- Attention to detail.
Qualifications:
- Minimum Cert CII.
- A-Level standard qualifications.
Experience Required:
- Minimum of 7 years' experience in Property Underwriting or
- Minimum of 5 years' experience in non-standard property underwriting.
Technical Experience:
- In-depth understanding of Residential Property Insurance.
- In-depth understanding of Property Insurance Underwriting.
- General understanding of Property Insurance Claims.
- General understanding of FCA GI Regulation.
