Assistant Underwriter - London, United Kingdom - Aspen Insurance Holdings

Aspen Insurance Holdings

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Date:
Apr 10, 2024

Location:
London, GB, EC3M 3BD

Company:
Aspen Insurance

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.

We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

The role:

To appropriately underwrite risks and support the respective underwriting team in accordance with the business plan and within delegated underwriting authority with Aspen Values demonstrated in the delivery and performance.

Our Aspen Values are expected to be reflected in the delivery and performance of every role.

Key Responsibilities:
Strategy and Planning

Awareness of and contribution to the delivery of the divisional business plan, referring to more Senior/Underwriters as appropriate
Participate in all relevant meetings, in order to share and develop strategy, knowledge and best practice
Positively promote the department, division and company as a whole, in order to maximize brand leverage

Policy, Process and Procedures

Perform underwriting activities, where authority given, in accordance with all legal and regulatory requirements to ensure obligations are met
Adheres to underwriting standards, instructions and good practice to minimise risk and maximise efficiency
Ensures the recording and measurement of [reinsurance/insurance] risks, including delegated underwriting authorities (DUA's) where relevant, to ensure accuracy and good practice, developing an understanding on modifying or developing policy wordings
Awareness and understanding of reinsurance requirements to minimize risk and to deliver business plan objectives

Environmental Awareness/Customer Focus

Establish technical knowledge and judgement to support Senior/Underwriters with identifying issues and opportunities
Establishes, develops and strengthens relationships with stakeholders including customers, brokers, business partners and colleagues to maximise influence and achieve business objectives
Demonstrate support for market associations and trade bodies
Demonstrates an understanding and awareness of market dynamics and market cycle to drive and enhance business performance

Technical Performance

Develops expertise and technical knowledge through collaboration with Head of/Senior/Underwriters identifying and implementing appropriate learning and development activities
Underwrites [insurance/reinsurance] risks, where authority given, in accordance with the business plan and the delegated underwriting authority to meet business objectives. This may include negotiating rates, terms and conditions for existing and new business (developing or modifying policy wordings as appropriate), ensuring compliance with internal and external regulations and guidelines, ensuring contribution to the business plan and objectives, and support credit control, where required, in payment collection
Aware of any review and analysis of the portfolio to identify progress toward business objectives
Ensures all business, where authority given, is thoroughly evaluated by peer review and that risks written adhere to the Company's underwriting standards and individual authority

Skills & Experience:

Education experience up to Alevel or equivalent (preferable)
Undertaking/Interest in completing industry qualification e.g. CII (preferable)
Experience of working in an underwriting environment within a specialised/complex underwriting area (preferable)
Experience of resolving underwriting queries
Good interpersonal and communication skills
Good negotiation skills
Good customer orientation skills
Ability to analyse data
Good decisionmaking and underwriting judgement
Strong attention to detail
Strong level of numeracy and literacy skills
Strong organisational and prioritisation skills
Ability to collaborate effectively within a team environment
Used risk profiling and pricing tools and loss models