Underwriter - Motor Innovation

at  IQUW Group

ABOUT US

ERS is the UK’s largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it’s a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn’t enough. That’s why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.

ESSENTIAL QUALIFICATIONS, SKILLS AND EXPERIENCE

• An understanding of underwriting strategy and risk appetites and ability to operate within these.
• Possessing extensive technical knowledge of the product(s), including the features of the product, factors that drive product performance, market dynamics which influence how the product is delivered and the requirements of customers using the product(s)
• Underwriting, risk selection and pricing skills which will ensure that we optimise the financial performance of a range of product propositions in a complex and competitive market.
• Good commercial awareness that allows you to identify and take advantage of market opportunities.
• Possess an understanding of pricing practices and methodologies with the ability and experience to help us constantly enhance our pricing capability, providing insight and feedback on our pricing models.
• Interpersonal skills which will allow you to build and maintain relationships. Being able to articulate what a mutually beneficial relationship looks like and being comfortable having at times challenging conversations with our broker partners.
• Having knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market

BENEFITS

• A full job description will be found here

THE ROLE

The Underwriter’s primary responsibility are to support the Senior Underwriter in executing our underwriting strategy and supporting the development of our underwriting appetite, working closely with the Pricing and Product Technology teams. You will also act as a referral point for team members with a lower level of authority helping to develop their technical knowledge and understanding.
The role is market visible, which will see you working closely with our broker-partners and forming solid trading relationships, to help ERS achieve their short to medium-term financial plans by seeking to broaden our market penetration.

KEY RESPONSIBILITIES

• Contributing to the management of portfolio performance through the analysis of results, supporting the execution of our selection and pricing strategies and providing recommendations that will drive continuous performance improvement, contributing to meeting or exceeding our financial plans.
• Working alongside the Product Performance Analysts within the team, providing them with direction and support to improve their knowledge and utilising their skills to support the delivery of our strategic goals.
• Providing input to the development of our underwriting appetite for our product(s) based on your market knowledge and product expertise to take advantage of market opportunities.
• Supporting the Team Leader and Operations Manager to create a high-performance culture by demonstrating role-model behaviours.
• Work with the operational leadership team & technical training team to help identify training needs and support employee development through feedback, coaching and training to improve team competency and performance.
• Always aiming to get things right first time, achieving the agreed levels of quality
• Act as our first line of defence. Understand and adhere to the zero-tolerance fraud strategy by identifying and referring potentially fraudulent activity to the Policy Validation Unit within the required timeframe.