General:
Job Title: Underwriter – Safeguard
Division: Specialty Risks
Reports To: As per Beazley’s organization chart
Key Relationships:
Brokers, cover holders, underwriters, Specialty Risks underwriters, Specialty Risks underwriting management, Product Development, Broker Relations, Claims, Marketing, outside clients and service providers.
Job Summary:
To manage underwriting for a Safeguard (Sexual molestation liability) product as part of the Specialty Risks team. Provide advice on underwriting and market issues. Apply technical expertise to strengthen our product's market reputation and uphold the Beazley brand image. Although Safeguard is the main focus, you will also handle underwriting and offer guidance on EPL.
Key Responsibilities:
Underwriting
- Develop and underwrite a profitable portfolio of Safeguard business as part of the Specialty Risk team.
- Structure customized solutions by taking into account the team underwriting parameters and underwriting policy, applying underwriting knowledge and experience to secure new business and maintain existing clients.
- Monitor premiums, costs, and claims ratios per contract and take corrective measures if necessary to ensure long-term profitability at the account level.
- Assess the suitable risk premium by examining risk costs, reinsurance cessions, capital exposure, and underwriting and general administration expenses. Use rating models when applicable to guarantee profitability.
- Supervise peer underwriters in their everyday activities to guarantee profitability as well as efficient and cost-conscious administration of the Safeguard account.
- Manage and support assistants in their routine duties to ensure adherence to underwriting philosophy and policy and harmony within the team.
- Align with Beazley’s underwriting control standards for business written through Lloyd’s 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’ happiness.
- Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
- Maintain good business relationships with brokers.
- Maintain awareness of Beazley’s overall product range and take advantage of opportunities to introduce other Beazley products to clients.
- Use networking opportunities within the business to develop a standardized underwriting policy and guideline within Beazley.
- Develop guidelines and share business and class knowledge within the Safeguard and team.
- Work with peers within Safeguard and LMER to improve business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources, and cross-selling opportunities.
- Share and gather knowledge within the Beazley Group to ensure the dissemination of guidelines and improve business opportunities and profitability across the Group.
- Produce presentations and marketing literature as required.
- Develop business plans and research documents for the Safeguard account when required.
General
Throughout all your engagements, both within the company and with external parties, you should uphold Beazley’s core values—Being Bold, Striving for Better, and Doing the Right Thing. These principles foster teamwork internally and support a favorable brand experience for our customers. We also expect Beazley employees to:
- Align with Beazley procedures, policies, and regulations including the code of conduct which incorporates the FCA and PRA Conduct.
- Participate in training on Beazley policies and procedures provided by your line manager, the People & Sustainability team, or assurance teams (compliance, risk, internal audit). This may be delivered directly, through e-learning, or via the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are passionate about delivering a fair outcome, including having the right products for their needs.
- Follow the responsibilities assigned to your role by your line manager, the People & Sustainability group, or assurance teams like compliance, risk, and internal audit. Stay updated on relevant developments. These responsibilities might involve Beazley’s underwriting and claims control standards, other standards, and managing customer relationships.
- Perform additional duties as specifically communicated to you, either via your objectives or through the learning management system. These may involve participation in any Beazley committees or working groups.
Personal Specification:
Skills & Abilities
- Growth mindset, with confidence to build and lead project initiatives
- Strong analytical abilities with a focus on detail
- A proven ability to communicate, negotiate and influence effectively at all levels
- Excellent documentation and presentation skills
- Ability to manage time, meet deadlines and prioritize
- Motivational skills, team worker as well as able to work on own initiative
Knowledge & Experience
- Solid experience in growing new business and markets, with the capability to guide new projects and initiatives
- Extensive experience of Casualty, General Liability, Financial Lines underwriting will be advantageous
- Detailed understanding of underwriting policy, philosophy, and practice
- Extensive understanding of underwriting procedures and platforms
- Client service experience, with mature Distribution relationships
Competence & Disposition
- Delivery focused, self-motivated, flexible and enthusiastic
- Professional approach to interact successfully with managers and colleagues
- Keen focus on accuracy
Proficiencies
- Team working
- Information seeking
- Problem solving
- Effective communicator
- Achievement oriented
- Personal Impact
- Leadership
- Organizational awareness
The Rewards
- The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
- Attractive base compensation and discretionary performance related bonus
- Competitively priced medical, dental and vision insurance
- Company paid life, and short- and long-term disability insurance
- 401(k) plan with 5% company match and immediate vesting
- 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
- Up to $700 reimbursement for home office setup
- Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
- Up to 26 weeks of fully paid parental leave
- Up to 2.5 days paid annually for volunteering at a charity of your choice
- Flexible working policy, trusting our employees to do what works best for them and their teams
Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is $100,000 - $140,000per year plus discretionary annual bonus.
Don’t meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.
We are an equal opportunities employer and as such, we will make reasonable adjustments to our selection process for candidates that indicate that, owing to disability, our arrangements might otherwise disadvantage them. If you have a disability, including dyslexia or other non-visible ones, which you believe may affect your performance in selection, please advise us in good time and we’ll make reasonable adjustments to our processes for you.