Senior Underwriter
Reporting to: Lead Underwriter
Location: London
About us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
The role
The role of a Senior Underwriter at IQUW is one which proves challenging yet truly rewarding. The role offers the opportunity to become a key member of a leading edge, next generation underwriting team within IQUW’ new Specialty operation.
The key to success in this role will be a highly detailed and analytical underwriting approach, pro cyclical mindset with a profit driven focus. You will also need strong organisational skills.
Key responsibilities
- Drive underwriting excellence by ensuring adherence to risk appetite, lines setting, standards and guidelines, rating and pricing adequacy.
- In collaboration with the Head of Class & Lead Underwriters, you will be responsible for delivering the Class approved plan and providing input into the longer-term strategy.
- Providing input to the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise and being responsible for executing that underwriting strategy.
- Underwriting a range of risks in accordance within our stated underwriting appetite. You will also provide input and feedback such that we constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix
- Acting as a point of technical referral and opinion from other members of the underwriting team, brokers and other internal functions, using your extensive risk, product and pricing knowledge to inform appropriate decisions in respect of those referrals
- Provide feedback to Lead Underwriters & Heads of Class and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing
- Working closely with all areas of the business to ensure that we deliver a clear and seamless set of propositions to the market.
- Understanding the risk environment in which we operate. Contribution to the identification of and helping to manage the key risks which threaten the success and sustainability of our business.
- Providing substantial contribution to our “first line of defense” activities, using audit and peer review tools, complimented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure that all business is being written in accordance with our stated underwriting authorities, agreed processes and in compliance with our regulatory and conduct standards.
- Identify new opportunities for expansion of the business to the syndicate, in accordance with the strategy set for the syndicate and within the risk appetite set by the IQUW Board.
- Maintain and establish strong relationships with our clients, intermediaries, and promote the IQUW brand.
- Client facing as required by the market and by specific transactions.
- Work closely with the Lead Underwriter, use his/her knowledge, expertise and track record within the marketplace to further grow a credible and profitable platform.
- Adhere to IQUW Group’s compliance framework, policies and procedures and ensuring compliance with key regulatory and risk management responsibilities.
- Ensuring that at all times, we operate in such a way which is consistent with all legal and regulatory provisions. We are a business which takes our stated values and behaviours seriously and are absolutely committed to acting at all times in ways which are ethical, compliant and appropriate.
- Maintain a high performance and open management culture.
Essential qualifications, skills and experience
- A proven track record of and a strong reputation of underwriting in the Lloyd’s market
- Excellent sales skills and an insatiable appetite to increase the profitability of the portfolio
- A great communicator who can work with people at all levels, being just as comfortable with clients and leaders in the industry as they are with their own team
- Excellent Broker and Client relationships and the ability to develop business from a variety of sources
- Track record of developing and executing product strategies and portfolio management
- Strong business partnership skills in engaging and influencing internal and external stakeholders
- Client management gravitas – someone who is respected for his/her technical abilities and appreciated for his/her relationship management skills
- Possess a Bachelor’s degree or ACII qualification or equivalent, or relevant experience and proven track record in the relevant class of business
Desirable behavioural attributes
- Strong interpersonal and relationship building skills.
- Strategic thinker, highly adaptable and resourceful in problem solving.
- Decisive in nature, displaying good judgement in decisions and taking responsibility for outcomes.
- Clear evidence of the ability to motivate and inspire peers.
- Highly articulate and numerate.
- A team player.
- Innovative and able to generate creative solutions.
- Highly organised with a clear ability to prioritise and deliver on allocated tasks.
