Assistant Underwriter, Renewables - London, United Kingdom - Hiscox

Hiscox

Verified Company

London, United Kingdom

1 week ago

Posted by:

Tom O´Connor

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Description

job description:

Role:
Assistant
Underwriter, Renewables

Reporting to:
Senior Underwriter, Renewables & Power

Location:
London

Hiscox London Market Marine & Energy Division

About Hiscox:

As an international specialist insurer we are far removed from the world of mass insurance products, selectively focusing on key areas of expertise and strength, all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way.

Defined by our strong moral fibre we prioritise above all else the principle of doing what we say we will.

Insuring the unique and interesting, our search for talent is the same. We empower our people to think creatively, challenge the status quo and approach things with a solutions focused lens.

This results in us being able to provide the type of insurance solutions which are often too complex for other insurance companies, we find a way where others give up.

If you thrive in a challenging and collaborative environment where you are trusted to work instinctively and know the company will stretch you to your full potential look no further.

About the Team

Hiscox have been writing an Energy book as part of the wider Marine, Energy & Specialty (MES) Division within Hiscox London Market for many years and is viewed as one of the leading Markets in the class.

The Energy portfolio is written alongside Marine Hull & War, Marine Cargo and Marine & Energy Liabilities.

Starting off as an Upstream underwriter we have diversified our product offering in line with the requirements of our clients, the market and the broader 'Energy Transition'.

The Energy line at Hiscox currently underwrites a broad spectrum of the Energy value chain including Upstream, Midstream, Downstream, Renewables and Power.

Whilst we underwrite out of London we have a truly global footprint and a broad underwriting appetite.

Our team is currently comprised of 6 underwriters who are closely supported by a team of claims, pricing, exposure management and operations personnel.

The key to our success is our deep technical understanding of the products we sell and the activities our clients perform which enable us to identify the best risks and differentiate ourselves from our competitors.

This is your opportunity to become part of it and help influence and shape our offering.

The role:

Whilst the Hiscox Energy Team underwrites a broad range of Energy risks the primary focus of this role is to provide pre-underwriting and technical analytics support to the team that focuses on Renewables & Power.

The preparation of risks in readiness for underwriting is needed, including correctly organising submission flow, preparing rating sheets and pre-reading engineering reports.

Also, essential to the role is liaison with brokers and aiding with the processing of any facultative reinsurance purchases and treaty renewals.

Whilst being part of the underwriting team, the Energy Assistant Underwriter will work alongside the Operations, Exposure Management and Pricing teams to develop the necessary in-depth knowledge that is required as an Underwriter.

Overall book analysis, preparation of statistics and various other analytical tasks and skills will also be required.

The aim is that the responsibilities of this role will evolve into gaining full underwriting authority over time and of working in a tight unit of the wider Energy team (6 members).

Primary Responsibilities

Will carry out risk assessment with technical tasks requiring various analytical skills.
Learning and developing underwriter judgement including review of wordings and use of various modelling systems.
Act as the first point of contact for the operations team to ensure that appropriate documentation is present and the internal underwriting system remains accurate.
Support underwriting of new and renewal accounts by providing a technical opinion for underwriters through assessment of surveys and underwriting information.
Liaise with stakeholders including brokers, reinsurance brokers and colleagues to ensure a high level of service for clients.
Check and challenge team output to ensure it meets expectations.
Manage the Energy pipeline renewal process.
Help to manage and to preunderwrite the broker facilities written within the Energy team.

person specification:

_Business Technical:
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Understand the roles and needs of the Underwriters within your team as well as the state of the market in order to help tailor the team's service delivery accordingly.
Build key knowledge of all core systems, processes and regulatory procedures.
Build an awareness of the commercial considerations impacting underwriting support in order to evaluate and identify opportunities to reduce the Combined Ratio.

_ Professional:
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