Job Description

Overview

About us

ERS Syndicate 218 at Lloyds is managed by Starr. We are the UK’s largest specialist motor insurer with an A+ rating and have been making motoring passions and livelihoods possible since 1946. 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.

Starr is a global insurance and investment organisation providing property and casualty insurance solutions to business and industry. Starr has grown into one of the world’s fastest‑expanding insurance organisations, writing business in 128 countries across six continents. Our talented and experienced associates manage risk and ultimately support the profitable growth of organisations in a dynamic, competitive and ever-changing marketplace. Join us and become part of our talented and passionate workforce.

Role Purpose

The Regional Trading Underwriters primary responsibilities are for the execution of our underwriting strategy and underwriting appetite, and materially contributing to the achievement of our short and medium term financial plans.

The Regional Trading Underwriters role is responsible for driving the performance of a selected number of brokers portfolios often located in the broker’s office to extract the budgeted revenue whilst meeting our budgeted loss ratios. This is achieved through superior underwriting and pricing skill and honed negotiation skills Work with the Head of Underwriting / Product Manager to define and deliver the Regional Underwriting Model, including how and who best to engage with the brokers and what the optimum business model is to deliver our financial plans.

The role is highly market visible, involving extensive broker contact when communicating our strategy, managing the financial performance of existing relationships and in seeking to broaden our market penetration. Success in the role requires extensive technical expertise in our product and frequent collaboration with other business functions to ensure that we leverage capabilities from across the business in delivering first class propositions to our chosen market.

Key responsibilities

• Work with the head of segment to define and agree the Regional Underwriting business model and execute this in line with plan to ensure that maximum value is extracted from the region and broker panel
• Identify a panel of brokers to support our business model and ensure optimum coverage for the region
• Underwriting a range of complex, unusual and non-standard risks in accordance within our stated underwriting appetite. You will also provide input and feedback such that we constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix
• Meet or exceed our financial plans for the individual broker panel and finding new opportunities to deliver profitable growth
• Establish a firm reputation for being the ‘go to’ Underwriter for your region / brokers
• Providing input to the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise and being responsible for executing that underwriting strategy.
• Contributing to the management of portfolio performance through the analysis of results, execution of our selection and pricing strategies and providing recommendations as to actions which will drive continuous performance improvement, thus ensuring that we will meet or exceed our financial plans
• Provide feedback to Product Managers and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing
• Working closely with all areas of the business to ensure that we deliver a clear and seamless set of propositions to the market.
• Understanding the risk environment in which we operate. Contribution to the identification of and helping to manage the key risks which threaten the success and sustainability of our business.
• Using audit and peer review tools, complimented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure that all business is being written in accordance with our stated underwriting authorities, agreed processes and in compliance with our regulatory and conduct standards.
• Use existing market knowledge to establish and continually enhancing a range of business relationships with our key partners, ensuring that we understand and satisfy their needs and those of their customers
• Ensuring that at all times, we operate in such a way which is consistent with all legal and regulatory provisions. We are a business which takes our stated values and behaviours seriously and are absolutely committed to acting at all times in ways which are ethical, compliant and appropriate.

The above duties and responsibilities are not an exhaustive list, and you may be required to undertake other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.

Qualifications, skills and experience

This role carries strategic and financial responsibility as well as being recognized as a market leading subject matter expert in our product(s). We therefore require our role holders to demonstrate leadership and management capabilities and to possess the following skills, attributes and knowledge:

• 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)
• Strong portfolio management skills with the ability to manage the financial performance of a range of product propositions in a complex and competitive market.
• To demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both
• Commercially aware with strong negotiation skills
• Possess extensive commercial awareness, being able to spot and take advantage of opportunities and to fulfil their role in a way which enhances our financial performance
• Detailed 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 value adding relationships. You must be able to articulate what a mutually beneficial relationship looks like and be comfortable having difficult conversations with business partners and colleagues
• Extensive knowledge of and experience in a sophisticated underwriting control environment which allows us to execute first line of defense activity, with a focus on constant performance improvement
• Extensive knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market
• The ability to maintain high levels of personal motivation whilst working remotely from office

Core behavioural competencies

• Strategic perspective
• Commerciality
• Relationships
• Performance focus
• Communication and influence
• Development of self and others

Additional Information

• A full job description will be found here.

Wording to also be included:

Starr is an equal opportunity employer, which means we will consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.