Underwriter - US Commercial Property

General

Job Title:

Underwriter

Division:
Property

Reports To:

As per Beazley’s organisation chart

Key Relationships:
Brokers, underwriters, claims staff, other staff, coverholders, external clients and suppliers

Job Summary:

To underwrite a Commercial Property account and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain market reputation of the Beazley brand.

FLSA:
Exempt

Key Responsibilities:

Underwriting

• Develop and underwrite a profitable portfolio of Commercial Property business as part of the Property team.
• Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Property.
• Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.
• Develop a good working relationship with the claims managers on this class of business.

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Maintenance of good business relationships with brokers.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

General

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
• Work with peers within Commercial Property and the broader Property team to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• Production of presentations and marketing literature as required.

At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification:

Education and Qualifications

• Minimum graduate level education

Skills and Abilities

• Proficient underwriting skills
• Accurate and numerate
• Computer skills – good working knowledge…