Assistant Underwriter - Partnership

ABOUT US

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Copenhagen, Miami, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website www.chaucergroup.com

Job Profile Summary

To assist the Underwriters in underwriting new and renewal Partnership opportunities as detailed within the main duties.

Job Description

• Supporting the Partnership Class Underwriters in all aspects of the underwriting and management of the account.

• Agreement of endorsements, amendments and promised lines in accordance with any agreed underwriting authority.

• Carry out e-placement (PPL/Whitespace) tasks to ensure no backlogs build up and response times are kept to a minimum

• Monitor risks written and due for renewal as well as developing list of target accounts.

• To interpret, prepare and analyse underwriting data to provide comprehensive modelling information to support the underwriting process.

• Support ongoing pricing model development

• Contribute to the successful implementation of business segmentation monitoring / management to allow the team to pursue optimal portfolio strategy.

• Daily liaison and correspondence with brokers including selective marketing

• Prepare reports and data analysis using Chaucer Analytics Portal to assist the team in driving sustainable business growth

• Coordination and quality control with Underwriting Operations, ensuring tasks are conducted to a high standard and in a timely manner

• Liaise with other business areas within Chaucer as required to ensure effective management of the Partnership account including credit control, compliance, claims, exposure management, internal risk review and actuarial functions

• Preparation and monitoring of peer review documentation/process

• Deputising for peers when absent at divisional meetings

• Assisting with strategic projects and underwriting insight assessment

• Assisting Innovation underwriters as appropriate and as required

• Undertake input of underwriting data into pricing models to generate risk assessments and premium calculations, review and validate model outputs to ensure accuracy in pricing recommendations and work closely with underwriters to interpret pricing model results and make necessary adjustments. Assist in the development and enhancement of new pricing tools and methodologies.

Regulatory Responsibilities

Comply with all policies and procedures and ensure that due regard is paid to providing good customer outcomes and the fair treatment of customers.

Manage the relationships with Customers, Agents and Service Providers:

• Advise, assist and service customers on insurance and risk matters to promote customers' satisfaction;

• Foster positive relationships with Customers and attain an understanding of their needs;

• Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate; and,

• Assist with the completion of all required annual product review assessments to agreed timescales with approvals obtained and recorded

• Follow all Chaucer Group Product Governance processes in the UCM and obtain appropriate approvals

• Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers.

Skills and Competencies

• Excel and PowerPoint - Intermediate

• Knowledge, understanding and interest in the concept of portfolio underwriting.

• Casualty/Specialty experience preferred.

• Knowledge of underwriting placement systems: PPL and Whitespace.

• Ability to communicate confidently to varying levels of management and with external stakeholders.

• Involvement in the interpretation and assessment of data analytics

• Organised and able to work to tight deadlines

• Able to communicate with different levels and is adaptable

Education

• Studying towards ACII qualification

Why Join Chaucer?

An established market leading Insurer, where over the past 5 years, the Chaucer Group has seen significant and successful growth. In 2019, we wrote $1.4bn of Gross Written Premium, closed 2023 with $2.7bn, and are on track to write well over $3bn in 2024.

This is an exciting time for Chaucer; we have the people, the platforms, the expertise and the relationships to continue our recent success. We will remain focussed on the areas where we can provide the most expertise and value to our brokers and clients.

We offer:

• A flexible 2 days in the office hybrid work model that supports individual and team needs.
• A diverse, inclusive culture that values people for who they are.
• Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.