The posting
Job Summary:
To provide underwriting and operational support to the APAC Jewellery, Fine Art and Specie team in achieving its business plan. The role will support the review of new and renewal business, preparation and processing of policy changes, and management of account activities throughout the underwriting lifecycle. The role will help ensure that underwriting and administrative processes are completed efficiently, accurately and in accordance with applicable underwriting guidelines and control standards.
Key Responsibilities:
Underwriting
- Assist Underwriters in assessing risks, preparing proposed terms and conditions, undertaking premium modelling and monitoring account profitability, in accordance with applicable underwriting guidelines.
- Assist Underwriters in determining and documenting appropriate terms and conditions for new business, renewals and endorsements.
- Monitor premiums, costs and claims ratios at account and portfolio level, identify material trends or concerns, and refer these to the appropriate Underwriter for review and action.
- Assist in portfolio analysis, accumulation monitoring, claims trend analysis and production of management information reports.
- Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.
Underwriting Support
- Support the Underwriters to deliver excellence services to our clients with efficiency and accuracy
- Provide pre-underwriting and post-binding support to Underwriters, consistent with underwriting guidelines,
- Monitor and ensure underwriting controls are present and completed within the agreed SLA for the risks underwritten by the team.
- Review underwriting documentation, quotations, slips, certificates, endorsements, closings, bordereaux and/or SOAs etc to secure contract certainty& data accuracy;
- Serve as the first point of contact for any internal administration/operation related inquiries during the account life cycle for all risks written by the team.
- Work closely with Underwriting & Claims Operation (UCO) supporting team to ensure timely and accurate processing of the business and system entry for the risks underwritten by the team
- Monitor and chase for closings, bordereaux, SOAs and renewal accounts due timely
- Engage with credit control/UCO team to monitor the premium payment status for risks written, and provide assistance to credit control/UOI team if required to secure timely and accurate premium payment
- Produce business reports, statistics and information with data accuracy, ad hoc reports, market research, presentations and marketing literature as requested
- Interact with other teams within the Company e.g. Claims, Credit control, Compliance and other teams on matters affecting or related to accounts within the portfolio to ensure full compliance and effective and efficient solutions as may be required to meet internal and external regulatory/compliance/ business requirements;
- Attend underwriting training and internal & external meetings as appropriate or required
- Other duties assigned from time to time
Broker/Client Interaction
- Support Underwriters in developing and maintaining effective relationships with brokers, cedants and other key business partners.
- Provide professional, accurate and timely service through email, telephone, virtual meetings and face-to-face interaction.
- Act as an initial point of contact for routine administration and operational enquiries relating to assigned accounts, escalating technical, complex or sensitive matters to the appropriate Underwriter.
- Maintain and develop good business relationships with internal and external clients by responding to all client queries in a timely and accurate fashion
- Support the promotion of Beazley Jewellery, Fine Art and Specie capabilities across the Asia-Pacific region, as appropriate to the individual’s experience and development.
Knowledge and Experience/Essential Criteria
- Strong interest in Jewellery, Fine Art and Specie Insurance, with a desire to develop into a recognised and respected JFAS Underwriter within the specialist insurance market.
- Demonstrates patience, commitment and a long-term growth mindset, with a willingness to develop specialist JFAS underwriting expertise and progress alongside the growth of the APAC JFAS business.
- Bachelor’s degree, preferably in a quantitative, analytical or business-related discipline such as Science, Engineering, Mathematics, Economics, Finance or Data Analytics, or equivalent relevant professional experience.
- Strong analytical and problem-solving skills, with the ability and willingness to use technology, data analytics tools and Company resources to improve underwriting efficiency, data accuracy and operational effectiveness.
- Strong attention to detail, intellectual curiosity, willingness to learn and genuine interest in specialty insurance products
- Excellent communication and interpersonal skills, with the ability to work effectively with brokers, clients and internal stakeholders.
- Positive, open-minded, collaborative and solution-oriented mindset, with the ability to contribute effectively within a regional team environment.
- Strong organisational skills, with the ability to manage competing priorities, meet deadlines and consistently deliver high-quality work.
- Demonstrated commitment to continuous learning, professional development and the achievement of relevant insurance qualifications.
- Candidate with 2-5 years insurance, financial services or other relevant industries ispreferred. Candidates with more extensive relevant experience may also beconsidered, depending on the appropriate role level.
- Applications from fresh graduates seeking an underwriting trainee pathway will also be considered.
- Previous experience as an Assistant Underwriter or Underwriting Assistant would be advantageous but is not essential.
General
It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
We also expect Beazley employees to:
- Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
- Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability development or assurance teams (compliance, risk, internal audit)either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management, assurance teams (compliance, risk, internal audit) and ensure you keep up todate with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Personal Specification
This role requires someone result focused, self-motivated, flexible and enthusiastic. This role would be ideal for somebody with a professional approach to interact successfully with other clients, building relationships and an ability to negotiate with both internal and external parties.
Skills and Abilities
- Fluency in English and other languages based on regional business requirements
- Demonstrated ability to build relationships with a wide range of stakeholders
- Accurate and numerate
- Computer skills – good working knowledge of MS Office
- Strong analytical skills with attention to detail
- Effective communication skills (written, verbal, active listening)
- Ability to manage time, meet deadlinesand prioritize
Competencies
- Achievement drive
- Analytical thinking
- Information seeking
- Customer focus
- Initiative
- Collaborative
- Problem solving
- Detail oriented
- Team working
- Time management
- Relationship development
- Effective communication
Aptitude and Disposition
- Result/outcome focused, self-motivated, flexible and enthusiastic
- Ability to negotiate with both internal and external parties
- Professional approach to interact successfully with managers/colleagues/external suppliers
- Team worker and also able to work on own initiative
- Values continuous personal and professional development
