Underwriter

Package: £71,000 - £87,000 + up to 15% bonus

Location: Leeds or London (Hybrid)

Contract: Permanent

Working Pattern: Full time, 37.5 hours per week, Mon-Fri

Medical Protection Society has an exciting opportunity for an experienced Underwriter to join their growing team as a Corporate Underwriter. In this newly introduced position, you will play a crucial role in underwriting a profitable portfolio of new and renewal corporate risks. In addition, the Corporate Underwriter will contribute to the implementation of joint underwriting and pricing policies, to achieve plan and to ensure excellent service delivery.

In 2023 the Insurance and Partnerships team was formed in order to best support our B2B clients, including insurance clients, Healthcare Protection (HCP) and discretionary corporates. The team consists of dedicated and expert underwriting, business development, syndicate operations, pricing and product colleagues.

MPS offers a unique opportunity for professionals looking to make an impact in the MedMal corporate underwriting space. In this role, you will collaborate closely with account managers, brokers, and internal colleagues to assess submissions, underwrite risks, and drive new business and renewals.

We think this role serves as an excellent opportunity and allows you to:

• Do something good – We are the world’s leading Medical Defence Organisation (MDO), providing protection for doctors, dentists and healthcare professionals as well as world class risk prevention; by joining our team you will make a real difference for our members.
• Participate in the Lloyd’s environment – MPS are the only MDO operating in the Lloyd’s market. MPS’s Syndicate 1892 commenced underwriting on 1 January 2022, offering an innovative insurance solution to corporate healthcare providers and other independent healthcare organisations. MPS offers its medical malpractice insurance for corporate providers under its Healthcare Protection brand. You will have the exciting opportunity to work with a relatively new syndicate, shaping and influencing its growth.
• Join a dynamic team – We have real experts in the team including medical, dental and commercial professionals who are eager to work collaboratively to achieve the overall strategy of the Underwriting, Pricing and Insurance division.

As the Corporate Underwriter, you will also:

• Apply underwriting decisions on referrals and tasks from all areas of MPS and MPSUW business within their delegated authority level, ensuring precise implementation of underwriting and pricing policies, delegated authorities, and operational procedures.
• Analyse member/client profiles and identify high risk members/clients using appropriate tools/techniques.
• Provide oversight and thorough analysis of client/member profiles and case histories for those identified as potential high-risk to MPS and MPSUW.
• Monitor audit, risk, and control activities related to underwriting and pricing.
• Collaborate with the Class Underwriter to craft and execute corporate strategies, contributing to key initiatives.
• Assist in the development of the MPS UW business plan to drive organisational goals.
• Deliver exceptional service to members and clients by promptly resolving inquiries and concerns.
• Demonstrate a comprehensive understanding of risk management appetite within the role, including proactive reporting of perceived risks and strict compliance with relevant controls.

We are looking for:

The ideal candidate for the Corporate Underwriter position at MPS boasts a wealth of experience in underwriting within a regulated environment. You will possess significant underwriting experience, with sound understanding of the Lloyd's market, ideally having worked with other syndicates or company markets. Your background should include exposure to a range of risk classes including hospitals, and non-hospital corporate entities, associations and individual practitioners with a focus on Medical Malpractice insurance.

We believe candidates with previous experience in broker-facing underwriting roles, managing broker relationships while demonstrating underwriting expertise, will also thrive in this role.

To excel in this role, you will enjoy working autonomously, taking projects from initiation to completion, and have a track record of hitting the ground running within a short timeframe. Familiarity with the UK market is crucial, while knowledge of other territories would be advantageous.

The ability to analyse complex data, develop underwriting and pricing strategies, and present findings persuasively to senior stakeholders is essential.

If you are a proactive, analytical thinker with a passion for underwriting in the insurance industry, and if you are prepared to take on the challenges of shaping the future of corporate underwriting at MPS, we encourage you to apply for this exciting opportunity.

In return, we can offer you:

Alongside a competitive salary between £71,000 - £87,000, you will also receive:

• Up to 15% discretionary annual bonus
• 11% pension contribution (3% from you, 8% from us optional additional matched 3% contributions, e.g. 6% from you, 11% from us)
• 25 days annual leave plus flexible bank holidays (option to buy/sell 5 days)
• Private Medical Cover
• Healthcare cash plan
• 6x salary death in service
• Paid volunteering day
• A personal GP service enabling you to get a video consultation with an NHS-registered, private GP
• Employee Assistance Programme
• A range of shopping discounts from major high-street retailers

About MPS:

The Medical Protection Society Ltd (MPS) is the world’s leading protection organisation for Doctors, Dentists and healthcare professionals. We protect and support the professional interests of almost 300,000 members around the world.

We are a not-for-profit organisation, meaning member’s subscriptions are either invested into bettering the organisation, colleagues and products, or kept safe should members require support for complaints or claims arising from professional practice.

Our philosophy is to support safe practice in medicine and dentistry by helping to avert problems in the first place. We also actively campaign for regulatory and legal reforms that benefit members and the wider healthcare professions.

To do this, we need colleagues who are trusted and supported to deliver their best work, whether that be through leadership development, fully funded training courses or peer-to-peer support. We want colleagues to feel empowered to deliver positive change, display ambition to push themselves and be determined when faced with a challenge, whilst ensuring members best interests are at the core.

Job Types: Full-time, Permanent

Salary: £71,000.00-£87,000.00 per year

Benefits:

• Company events
• Company pension
• Cycle to work scheme
• Health & wellbeing programme
• Life insurance
• Paid volunteer time
• Private medical insurance
• Referral programme
• Sick pay
• Work from home

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday
• No weekends

Supplemental pay types:

• Bonus scheme

Work Location: Hybrid remote in London