We are looking for an Assistant Underwriter to support our Construction department in EMEA. You will work with 5 underwriters and help them with their daily tasks, in coordination with data capture teams, technical accounting, and operations. You will also assist them in managing their book of business and improving the underwriting process. The role holder will be responsible, with underwriter support, for reviewing, pricing and analysing enquiries sent to the team, and responding to brokers with non-binding indications / declinatures, where relevant.
Underwriting Support:
Underwriting within guidelines of letter of authority for NBIs, renewals, new business and endorsements as required.
Contract certainty checks on all lead slips
Ensure KYC is up to date on all SCOR Europe business
Review and rate all enquiries reviewed to obtain adequacy ratios
Know the referral criteria and ensure all underwriters have referred relevant risks to relevant reviewers
Know sanctioned risks and refer to Compliance team if required
Filing and archiving of key documentation in a timely manner as required
Ensure calculations of premiums and local taxes are accurate for reporting requirements.
Ensure timely scanning of core risk documentation to relevant folders or document management systems
Data verification and integrity checks
Liaise with the Underwriter as required to ensure contract wording is fit for purpose
Research submissions using appropriate sources
Track the live status of all risks through every stage in the risk cycle
Monitor upcoming renewals and risks in the new business pipeline
Broker/Client Interaction:
Provide a professional service to brokers, clients and external suppliers in person, writing, email and telephone
Maintain and develop broker relationships, responding to queries in a timely fashion
Prepare for, attend, and take minutes at client meetings as required
Liaise with brokers to ensure all slips and additional information received is accurate and complete
Reporting & Operational Requirements
Provide accurate management information to the Underwriting team and senior management when required
Produce ad hoc reports, presentations and other team literature for key relations as and when requested
General Requirements:
Participate in cross-team projects as required
Undertake any other reasonable duties as may be requested by SCOR staff
Comply with SCOR policies, procedures and regulations relevant to your role
Manage training needs through attendance of relevant training as advised by your line manager and also market presentations where relevant to your role
Carry out additional responsibilities as defined through your objectives
Uphold the principal of Treating Customers Fairly
Finalities
Contributes to the Company’s result by:
Guaranteeing that the underwriters have accurate and up to date information to assist them in performing their duties.
Contributing to the team’s targets through effective and quality Underwriting within agreed limits.
Required Education
Essential
Educated to A Level, or equivalent qualifications
Desirable
Bachelor degree in engineering, actuarial/mathematics,finance, Insurance or risk management
ACII Diploma
Progression towards a professional qualification
Required experience & competencies
Essential
Willingness to learn and develop strong technical skills in Construction Insurance
Strong analytical abilities and attention to detail.
A track record for solution finding/problem solving as well as building and maintaining integrated workbooks and dashboards in Microsoft Excel
Desirable
Experience in risk, finance or insurance is a plus but not mandatory.
Good MS Office applications skills (Outlook, Word, Excel, PowerPoint)
Programming capabilities
Familiar with using UW systems, rating tools, reporting etc,
Experience within an International environment
Personal competencies
Outcome focused, self-motivated, flexible, enthusiastic
Professional approach to working with key stakeholders at all levels of authority
Organised
Demonstrate ability to manage time, meet deadlines and prioritise effectively
Proactive with drive to succeed
Uses initiative and common sense
Approachable
Strong communication skills verbally, in writing and via email and telephone
Team player as well as capable of working on own initiative
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.
Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by “The SCOR Way.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.
SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.
SCOR, one of the world's largest reinsurers, provides its clients with a diversified and innovative range of solutions to control and manage risk. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health as well as in P&C.
The reinsurance industry is about combining technical expertise and experience with the developments of science. However many tools we use to conduct our activities (models, databases, pricing tools, reserving tools, and so on), we also need expert judgments and human experience to correctly underwrite. This is what we call the art of underwriting. Reinsurance is a knowledge industry. Expertise is an accumulation variable.
The most advanced tool will never replace the intuition of a seasoned underwriter facing a complex risk. Because at the end of the day, you have to make a decision, to sign, to underwrite. And what we have underwritten, we cannot overwrite - our word is our bond, as is our signature. This dimension of our business, linked to the art of underwriting, is more important than some observers would have people believe.
One way to acquire this art is to share experiences – both good and bad – and to share doubts and questions. Artists always belong to a school, from which they learn their craft.
Like artists, we have to learn, imitate, mimic, and then innovate, in order to find our own style and create our own distinctive work.
