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Underwriter

Markel Corporation, City of Westminster

Underwriter

Salary not available. View on company website.

Markel Corporation, City of Westminster

  • Full time
  • Permanent
  • Onsite working

Posted 3 days ago, 2 Oct | Get your application in today.

Closing date: Closing date not specified

Job ref: f424f4af97254652b87e6b8f0b39079d

Location ref: City of Westminster

Full Job Description

  • Contributing to the W&I underwriting strategy to establish a market leading team within the W&I marketplace.
  • Review and underwrite new risks using a technical rating model and coverage guidelines that we have developed.
  • Harvest insights from the sizeable data pool we have access to through the 10+ years of supporting coverholders to derive claims trends and inform underwriting approach.
  • Build and develop positive relationships with new and existing brokers, other distribution partners and private equity / acquisitive corporate clients, and establish yourself as a market leader in your skill-set.
  • Support the analysis of overall portfolio data and act upon those findings - i.e., iterate on the rating model and coverage guidelines as the book matures to expand margin and drive profitable growth over the market cycle.
  • Develop skills in negotiating policy terms and conditions.
  • Help to build and maintain strong working relationships within Markel.
    • Key Skills: Technical Underwriting
  • Experience within your specialist skill-set relevant for W&I underwriting or direct experience underwriting W&I risks.
  • Strong understanding of the risks inherent in underwriting W&I from the perspective of your specialist skill-set.
  • Develop an understanding of the principles of the technical rating engine and monitor portfolio rate adequacy according to Markel's underwriting principles and in line with authority limits.
  • Use analytical skills to improve Markel's underwriting capabilities (e.g. loss performance and underwriting efficiency).
  • Work with others to navigate the complexities of drafting / amending a wording / clause in particular with respect to your specialist skill-set.
    • Business Development
  • Help to develop, own and enhance the W&I portfolio, assessing risk-reward for targeting certain countries (within the UK and Europe) and sectors conducting M&A.
  • Help to maintain and update a broker / customer engagement plan for a portfolio of brokers and use this to drive quote requests and conversion.

    Come up with new points of view and innovative ideas to support the achievement of goals.
  • Be computer literate and have the ability to develop a full understanding and capability of in-house and MS systems.

    The W&I team is currently looking for a M&A consultancy / advisory specialist with exposure to M&A transaction processes, due diligence, sale and purchase agreements, and related deal documentation (with direct experience of W&I insurance a plus) or experienced W&I underwriter to compliment it's existing expertise of market experience, law, tax and financial due diligence. You will be joining a highly motivated team at an exciting time as we look to establish ourselves as the market leader in W&I SME risks and embrace new ideas in terms of portfolio construction, policy development and IT/AI solutions.
    • We're all about people | We win together | We strive for better | We enjoy the everyday | We think further Who we are: Business Unit overview: Professional & Financial Risks (PFR) focus on international and UK-domiciled business. The team is made up of five business divisions, Professional Indemnity, Management Liability, Warranty & Indemnity, Financial Institutions and Cyber Liability. We provide excellent service via our knowledgable underwriters who are available both at Lloyd's and in our offices. We have a flexible and innovative approach to underwriting that ensures that we can provide the product required by our customers. The Warranty & Indemnity (W&I) team is currently comprised of 9 individuals: Director - Head of W&I, three Senior Underwriters, an Underwriter, three Assistant Underwriters and a Graduate Assistant Underwriter. It is a relatively new team that was set up in Q4 2022 to write open market W&I risks. PFR has supported a broad portfolio of coverholders in the transactional liability space since 2014, which has performed well and informed a long-term strategy to underwrite directly alongside the delegated book. The team focuses on underwriting SME risks (deal sizes of c. GBP/USD/EUR 3m to 300m) in the UK and Europe, using the data and insights from its coverholder portfolio and the resources of a global, multi-line specialist insurer. Part of Markel Group (NYSE - MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world., If you're looking for a place where you can make a meaningful difference, you've found it. The work we do at Markel gives people the confidence to move forward, reach their full potential and seize opportunities. You'll find your fit amongst our diverse global community of optimists and problem-solvers. We're always pushing each other to think further because we believe that when we strive for better and realise our potential, we can help others reach theirs.

  • A great starting salary plus annual bonus & strong benefits package…
  • Up to 16% company pension scheme,
  • Private medical and dental cover, Menopause plan, emergency care benefit (children/Pets/dependants)
  • Income protection, Life assurance, electric car scheme, travel insurance
  • 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave
  • As well as other great benefits on offer there are countless opportunities to learn new skills and develop in your career!

Direct job link

https://www.jobs24.co.uk/job/underwriter-127497272
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