Underwriter - Engineering & Construction

About us

Avencia consulting is partnered with a Corporate & Specialty Insurer part of the Talanx Group. With over 120 years of experience, they operate across five continents, around 40 countries and employs over 5,000 people worldwide.

The Engineering & Construction team are a multi-discipline, multi-class UK and International programmes Underwriting team.

The role

To carefully select and underwrite risks, in a cost effective manner and in accordance with statutory and company requirements/guidelines to ensure profitability and business targets are met.

Key accountabilities

• To examine insurance proposals, gathering and assessing background information and liaising with specialist colleagues, in order to effectively assess the risk.
• To calculate possible risk and determine appropriate insurance premiums using actuarial information, other statistics and own judgement, within own authority level, making necessary referrals in accordance with company policy.
• To develop and maintain relationships with key brokers and clients at all relevant levels of their business.
• To liaise with brokers, clients and potential clients preparing quotes and negotiating terms as required, writing polices and specifying any conditions that should apply to policies.
• To set accurate, realistic premium forecasts and business plans in a timely manner to enable management to set accurate budgets and performance targets.
• To deliver training as and when necessary for staff, brokers and clients and assist with the development of underwriting assistants.
• To accurately enter data into company systems and produce management reports that ensure that the company remains aware of the nature and financial impact of risks written.
• To maintain accurate paper and electronic records for auditing and regulatory purposes.
• To proactively participate in projects or other initiatives designed to improve the effectiveness or efficiency of the department.
• To undertake any other tasks as requested by the Director, in order that the team achieve its objectives.

Skills & experience

• Relevant technical experience of CAR and EAR
• Good understanding of insurance and the terminologies used, across all lines of business
• Good technical understanding about underwriting policy construction; able to read underwriting files and understand what data needs to be recorded
• Able to evaluate information from a variety of sources and solve problems
• Good decision-making skills; able to consider the costs and benefits of various decisions and choose the appropriate one
• Good communication and interpersonal skills; comfortable with phone & face to face discussions with underwriters, brokers & other technical colleagues; confident in negotiation and networking scenarios
• Accuracy and attention to detail
• Able to organise own workload effectively to meet service standards
• Deadline focused; able to work under pressure to meet tight deadlines
• Competent user of Excel, Word and Rating tools
• Good systems knowledge, experience of using various company bespoke systems to interrogate data
• Insurance qualifications are desirable
• External industry knowledge to be demonstrated by membership and/or liaison with external professional, industry or commercial bodies