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Insurance Underwriting Professionals

 

Insurance Underwriting Professionals

Added on: 15 Jul 2017

Contract type: Full Time

Location: London

Salary: Very competitive + sizeable bonuses


Broadly, the criteria that our client is looking for is as follows: 

• GWP: £10m+ very interesting, £6m - £10m interesting
• Maturity of capacity discussions: Capacity organised – very interesting, Capacity interest - interesting
• Loss ratios: <50% interesting, 50% - 70% 
• Portability: 70%+ (i.e. attaches to the underwriter) interesting, 40% - 70% 


Our clients proposition to underwriters / teams:


Better Place to Work 

- No bureaucracy, get it done, continuous improvement culture 
- Professional management practices in place – CII Corporate Chartered Insurer
- Ethos of providing underwriters with the resources they need to build a large, profitable book (capacity, systems, marketing, support, etc.) 
- Plug-and-play operating environment covering permissions, systems, finance, compliance, etc. 
- Broker security committee approval in place with every broker to date 
- Independently-owned – no broker conflict-of-interest 

Clearer Reward Structure 

- Underwriting teams are paid salary and direct share of profit commission 
- Segmented P&L – bonuses not impacted by profitability of other lines 
- We secure and diversify capacity to de-risk the business (but clearly existing capacity would typically be better) 
- We accelerate books through marketing, quote-to-bind solutions, cross-selling, new product development, research capabilities / reports, etc. 

We want to incentivise bringing in teams writing big books of business, not big salaries.  We differ from others in that we are recruiting for books of business rather than recruiting for skills to fill specific roles.

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