About the Job
Motor Underwriter / Underwriting and Pricing Manager
Oue client is a leading player in the UK specialist motor insurance market Underwriting Motor individual Taxi and fleet. They are actively seeking to recruit an Motor Underwriter / Underwriting Manager based in Essex.
The purpose of the role is to manage and control the Underwriting and Pricing function to deliver GWP and loss ratio targets in a highly competitive market place.
Candidates will be required to have pricing/analytical experience and knowledge in motor insurance underwriting and achieved results to a high standard. Excellent knowledge of MS Excel is essential.
Key to the appropriate candidate, will be a positive personality with a strong commercial orientation in their underwriting decisions and recommendations
Purpose :
Monitor and manage the development of loss ratios on underwriting zones and recommend pricing and rating actions to deliver the target loss ratios and GWP targets.
To liaise with insurer partners on pricing issues where necessary, as well as developing a close working relationship with the IT development team
Key responsibilities
• To maintain and develop processes for determining ultimate loss ratios from current underwriting performance.
• To review underwriting results monthly and identify adverse underlying trends, projecting future profit commissions.
• To devise and implement the necessary corrective actions where the loss ratio projections are above budget.
• Development and analysis of competitor information
• To provide pricing input to new product developments.
• To co-ordinate the delivery of consistent performance reports.
• To maintain triangulation reports for each zone / product / insurer combination ensuring consistency across the group.
Motor Underwriter Responsibilities
The Underwriter shall ensure he/she:
• Handles all renewal and adjustment enquiries generated from the allocated client portfolio in accordance with the companies laid down service standards.
• Compile, manage, control and distribute statistics as required
• Complies with the requirements of insurers delegated underwriting authority agreement
• Operates within the confines of the agreed personal delegated underwriting authority as defined
• Assists other departmental managers with their allocated workload
• Reports complaints effectively in line with the companies complaints procedure
Required Competencies
The job holder will require the following competencies.
• Thorough knowledge of the methodologies of underwriting motor & ideally motor fleet business
• Analyse and forecast the portfolio so to maintain loss ratio GWP targets
• Understand the coverage provided by the taxi scheme policies
• Understand the principles and practice of insurance
• Understand the principles and practices surrounding the RTA and MID
• Knowledge of FCA requirements in respect of ICOBS
• Knowledge of the companies compliance procedures
• Knowledge of the limitations of the companies delegated authority agreement
• Knowledge and understanding of the companies various policies contained within the policies and procedures folder in the compliance directory, including but not limited to the "conflict of interest policy", "complaints procedure", "Whistle blowing policy" and other policies which may be necessary from time to time
Ref: 1307-61
MW Appointments is acting as an Employment Agency in relation to this vacancy.
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Company MW Appointments Location Essex, HC CM167JA Industries Insurance Job Type Full Time Permanent Salary £45,000.00 - £60,000.00 per year + Bonus Job Reference Code 1307-61_1376557608 Contact Information MW Appointments MW Appointments |
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