Underwriting Manager

5 months ago

Birmingham, United States Travelers Full time

Who Are We?

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Job Category

Underwriting

Target Openings

1

What Is the Opportunity?

Business Insurance (BI) SME provides Property and Casualty insurance for Small to Medium sized businesses through our Broker networks and deals with high volume eTrade Insurance.

We're looking for an Underwriting Manager to manage the SME portfolio, in partnership with the VP, SME, and partner with brokers to provide insurance solutions to customers. In this role you will analyse and evaluate risk to achieve business goals, helping shape, form, and execute strategic initiatives.

Using your technical expertise in etrade or digital underwriting, you will ensure the Underwriting decisions and standards are implemented and maintained across the SME portfolio.

We are looking for a decisive and detail-oriented person to build relationships internally and externally and negotiate terms to drive results. Your ability to independently analyse a portfolio, negotiate terms, and sell our products in challenging markets will contribute to the sustainable profitability and success of Travelers.

Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.

This role is eligible for a £5,000 new joiner bonus. If you are successfully referred by an employee at Travelers Europe, both you and the person who referred you could be eligible for this bonus.

What Will You Do?

Be Committed, Be Connected, Be Creative and Be Energised – these are the values we are passionate about. Understanding and embracing our values will shape your success and contribute to making Travelers Europe a great place to work.

Implement, define and monitor underwriting appetite & rules for new and existing products in collaboration with US/CAN Select, Europe portfolio managers and Europe UW office.  Work with product development on coverage analysis in new or optimisation of products to be market relevant and in line with our underwriting strategy. Ensure the appropriate use of ‘input’ data, third party data and SoF to select and manage risks in a eTrade model that is in line with our target risk selection strategy.  Provide UW guidance for referral handling within the team – what info to collect, risk management approaches to use. Identify and take corrective action based on portfolio analysis across SME, ensuring rules are working as expected and that any knowledge or behavioural gaps are addressed through communication, coaching and training. Manage the profitability, growth, and retention across the portfolio ensuring the underwriting quality is maintained.  Underwrite and skillfully negotiate risks to minimise risk and maximise profitability, including Mid Term Adjustments (MTAs). Proactively manages SME portfolio, ensuring key performance indicators are consistently achieved and you actively target new business and retention. Identify and capture opportunities to write additional lines of business using knowledge of products, risk characteristics and appetite. Proactively utilise various technology platforms to quote and bind E-Trade risk efficiently. Prepare, lead and present Underwriting Reviews for individual policies or portfolios/schemes and manage action points. Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to identify cross-selling opportunities. Foster and maintain relationships with brokers to ensure they have an appropriate understanding of BI SME products and the BI SME goals and objectives.  Develop and rollout UW training material to support SME product trading as a result of new products, product optimisation, UW strategies developed with the product portfolio owner and national UW officers. Support and collaboration across SME, providing coaching and guidance, including referrals.

To be successful, you will need to consistently deliver a great experience in every customer contact; connect with the right partners internally to find creative solutions to problems; be a role model; and consistently deliver on your commitments. 

What Will Our Ideal Candidate Have?

Knowledge: Expert knowledge of products, the regulatory environment, and the local insurance market. Portfolio Management: Ability to execute strategic direction across assigned portfolio in partnership with leadership. Analytical/Critical thinking: Strong critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyse available information to make decisions in alignment with our risk appetite. Communication/Influence: Excellent communication skills with the ability to successfully negotiate in difficult situations with brokers. Inclusion: Ability to work with and lead people from different backgrounds, experiences, cultures, races, etc. and views those differences as assets to be leveraged to accomplish business goals and objectives. Leadership: Experience coaching and mentoring others. Industry / Competitor Analysis: Review competitor press releases and industry trade press for helpful insights, linking key themes together and identifying applicability to team strategies. Project Management: Participate in and/or lead projects that involves complex analysis and implementation of non-complex, routine business and regulatory changes relating to the enhancement, maintenance or introduction of new products

What is a Must Have?

UK: A-Levels or similar qualification Advanced experience of underwriting, product knowledge, financial analysis, or risk assessment experience.

What Is in It for You?

Private Medical Insuran ce:  On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction. Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan. Additionally, if you decide to contribute to the plan, you will receive an increased company contribution. Holiday Entitlement:  Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year. Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs. Volunteer Encouragement:  We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 

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