Allied World Assurance Company Holdings, AG , through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. At Allied World, we have over 1,600 talented and loyal employees working in 25 offices globally who service clients throughout the world. We are focused on providing superior customer service and creative risk solutions, building long-term, mutually beneficial relationships. Our employees share our passion for progress and success, and we are looking for talented, committed people to join our team.
As a subsidiary of Fairfax Financial Holdings Ltd. and a Lloyds syndicate, we are situated in the heart of the London insurance market and benefit from a wealth of experience setting us apart from our competitors on the cutting edge of innovation. Based in the Walkie Talkie building at 20 Fenchurch Street, our office is on the 19th floor, providing fantastic views across London. With just under 200 employees in London, we pride ourselves on our warm and welcoming culture, with regular learning opportunities and support to achieve your career goals.
Allied World is an Equal Opportunities Employer. All qualified applicants will be considered for employment without regard to an individual’s race, colour, national origin, religion, sex, age, genetic information, or disability status.
Description of the role:
This position is responsible for underwriting a diverse book of business, employing the methods necessary to meet projected profitability, GWP, and expense goals, management and growth of the overall portfolio of business within the appropriate underwriting discipline/guidelines, marketing and servicing of existing and potential insureds.
Job Duties and Responsibilities:
- General underwriting functions including underwriting submission review, pricing analysis, setting of terms and conditions.
- Authorising of quotes and invoices in accordance with company guidelines.
- Responsible for timely and correct issuance of bound policies.
- Crafting of wordings and endorsements for authorisation by legal.
- Providing direction to the Junior Underwriters and/or Underwriting Assistant in the timely processing of Policy/Endorsement wordings.
- Perform extensive account analysis according to underwriting guidelines, including thorough review of underwriting application/submission, research, and reviewing requested terms and conditions.
- Active role in the development of business in Global Markets, exploring opportunities and marketing within the London Market and abroad as required.
- Accountable for the maintenance of underwriting files in an orderly and consistent manner and in accordance with underwriting guidelines.
- Liaise with actuarial support to develop premium benchmarking and pricing models.
- Liaise with Claims Department on any specific claim activity and overall market claim concerns that could potentially affect profitability.
- Stay current with respect to major market and industry issues and developments.
- Relationship management - external, via attendance at key, relevant client/broker meetings and other social outings as applicable.
- Correspond with brokers regarding outstanding information pursuant to binding.
- Ensure receipt of and review outstanding information to ensure consistency with the terms and conditions agreed at binding.
- Delegation (and supervision) of work to Underwriting Operations Assistants or Assistant Underwriters as deemed appropriate; responsible for the professional development and training of assigned team members.
- Support the departmental Vice President in setting strategic goals, setting budgets and producing regular Management Information.
- Other duties as may be assigned.
Person Specification:
- Ideally, an individual with a professional insurance qualification, ACII, already obtained.
- Engineering degree (civil or mechanical) would be preferable.
- Required 5+ years of demonstrable experience underwriting major international construction projects, with expertise and in-depth working knowledge of standard market wordings and endorsements.
- Must be highly articulate, with exceptional communication and interpersonal skills – required for significant liaison with clients and brokers, including delivering effective presentations and building strong working relationships.
- Strong marketing and business development capability – commercial acumen; ability to influence and negotiate at various levels of seniority, internally and externally.
- Highly computer literate, with advanced proficiency using an underwriting system. Knowledge of Genius and Open Box is a distinct advantage.
- Methodical approach to work, strong organization skills; capable of dealing with tight reporting deadlines and conflicting priorities; attention to detail.
- Overall, a team player with a collaborative outlook – acting as a role model for more junior members of the team.
- Language skills: fluent in English. Other languages would be beneficial.
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