General
Job description and person specification
Job Title: Underwriter - Safeguard
Division: Specialty Risks
Reports To: As per Beazley's organisation chart
Key Relationships: Local, regional and national brokers, Beazley SML underwriters (London team, MiscMed, Hospitals), Specialty Risks Underwriters, Specialty Risks Underwriting Management, Product Development, Broker Relations, Claims, Marketing, external clients and service providers.
Job Summary: To plan and execute business development and relationship management activities in line Safeguard growth plans that builds our product's reputation and standing in the market. Be responsible for underwriting a profitable portfolio of business for each product in support of the business plan.
FLSA: Exempt
Key Responsibilities:
Relationship Management
- Work with key internal stakeholders to develop and maintain product-specific business development plans for Safeguard, identifying, segmenting, detailing and evaluating potential broker and agent prospects, and executing such plan to ensure that Beazley generates targeted levels of growth and 'hit' ratios in this market.
- Lead in the education of the broker market on the products in a way that creates a need to buy, highlights our competitive differentiation, illustrate the need for service led products to grow the brand and facilitate the placement of new business with Beazley with a particular focus on new relationships.
- Raise the profile of Beazley within the broker community increasing the strength of relationships within the broker market to achieve a highly productive level of consistent, strong producer relationships over time.
- Develop effective and engaging broker education delivering these regularly with the aim of deepening broker knowledge of our products building affinity with our brand.
- Track metrics around broker engagements maintaining actions and follow ups from visits and share client and broker feedback on product with key stakeholders in a structured manner.
- Ensure we remain front of mind of brokers by planning and engaging in regular virtual/face-to-face meetings while acting as a contact point for broker queries and product education engaging in appropriate communication via social media.
- Identify, participate and present in conferences and events that increase Beazley's exposure of Safeguard to potential target markets.
- Advise, assist and service clients on insurance and risk matters to ensure clients' satisfaction.
- Foster positive relationships with clients to get a mutual understanding of both their and Beazley's needs.
- Maintenance of good business relationships with brokers.
- Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
Underwriting
- Develop and underwrite a profitable portfolio of Safeguard business in support of business plans.
- Work closely with the Safeguard team, and eventually with Executive Risk leadership, to launch the POT and be an active participant in its success.
- Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
- Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
- Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
- Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley Insurance Company Inc, or Beazley's internal MGAs.
- Develop a good working relationship with Claims Managers, service providers, as well as US and London based Underwriters on this class of business.
General
- Develop best practice and disseminate business and class knowledge with key internal stakeholders.
- Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
- Collaborate internally on the production of presentations and marketing literature as required.
- Production of business plans/research documents for the Safeguard team as required.
It is important that within all your interactions both internally and externally you adhere to 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:
- 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 Culture & People 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 Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date 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:
Education and Qualifications
- Minimum Bachelor's degree education
Skills and Abilities
- Effective relationship management skills with customer focussed approach
- Ability to develop strategic plan and execute on its implementation
- Active listening and emotional intelligence
- Ability to work independently for significant periods of time
- Strong business development and sales skills
- Accurate and numerate
- Computer skills - good working knowledge of MS Office, advanced Excel skills
- Strong analytical skills with attention to detail
- Able to communicate effectively with others, both verbally and in writing
- Ability to manage time, meet deadlines, and prioritise to meet sales targets
- Ability to spend time frequently travelling/on the road
Knowledge and Experience
- General commercial and financial knowledge
- Proven sales results and client service experience
- Knowledge of underwriting philosophy, processes and practice
- Extensive experience in the insurance industry ideally within an underwriting, broking, relationship management or sales role
Aptitude and Disposition
- Result focused, self-motivated, flexible and enthusiastic
- Professional approach to interact successfully with key stakeholders
- Team worker as well as able to work on own initiative
- Customer focused, with a strong ethic of service and fairness to the customer
Competencies
- Achievement drive
- Analytical thinking
- Strategic thinking
- Service focus
- Team working
- Forward thinking
- Conceptual thinking
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 annual 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 annual PTO (full-time, prorated for 1st calendar year of employment), plus paid public holidays with the ability to flex the religious bank holidays to suit your religious beliefs. Additional PTO purchase is available up to a maximum of 5 days per calendar year.
- Up to $700 reimbursement towards home office setup
- Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance in support of your wellbeing
- The opportunity to save for, and purchase, shares of Beazley stock
- Six months fully paid parental leave, regardless of how you come to parenthood
- Company paid sabbatical up to 12 weeks after 10 years of continued service
- Support with exam/study leave and fees for relevant qualifications related to furthering education
- Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually
- Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business
Salary for this role will be tailored to the successful individual's location and experience. The expected compensation range for this position is 80k - 100k per year plus profit related pay and discretionary annual bonus. You will be able to discuss your salary expectations should you be contacted about this role.
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.
This document is subject to review after consultation with your Manager.