Job Profile Summary
The Underwriting Assistant plays an important role in the success of the Cyber division, supporting the team in delivering the business plan, product development, underwriting of risk and overall management of the Cyber portfolio..
Job Description
Support underwriters with pre-underwriting, administration of slips, record keeping and reporting including but not limited to:
- Review new and renewal risks including attendance and write up and documentation of client underwriting meetings
- Cyber application analysis, slip analysis, perform rating analyses and undertake premium monitoring
- Maintain compliance with underwriting risk appetite, syndicate/company and regulatory procedures
- Ensuring on-boarding and maintenance of coverholders is completed in accordance with both Group Delegated Authority standards
- Prepare reports and statistical information as required by the underwriters
- Support new business opportunities through liaison with brokers and clients
- Use market, industry and other sources to enhance awareness of technical factors and developments relevant to underwriting and the general Cyber security landscape
- Support product development opportunities from idea through to inception
- Assist in the continuous development and assessment of rating models
- Assist in the monitoring of statistics and claims and report accordingly
- Work closely with the Cyber Centre of Excellence on monitoring trends in Cyber risk
Regulatory Responsibilities
- Assist with the completion of all required annual product review assessments to agreed timescales with approvals obtained and recorded
- Follow all Chaucer Group Product Governance processes in the UCM and obtain appropriate approvals
- Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Provider
Skills and Competencies
- Demonstrates a professional approach aligned with Chaucer’s values
- Knowledge of the Lloyd’s Market
- Awareness of cyber risks, common threats (e.g. ransomware, Phishing,) and basic IT terminology
- Ability to review and interpret data, spot trends and support risk assessment
- Cyber class specific experience - Cyber risk management knowledge (certifications/coursework in cybersecurity)
- Binder administration experience
- Knowledge of Cyber risk accumulation management tool (RMS/Cyence/CyberCube
- Excellent written and verbal communication skills
- High level of accuracy and attention to detail
- Collaborative team player
- Committed to delivering excellent customer service, with prompt and professional responses to internal and external queries
- Adaptability & willingness to learn
- Capable of prioritising tasks, managing multiple responsibilities, and using time effectively
Education
- 3 ‘A’ Levels or equivalent
- Working towards achieving ACII qualification
ABOUT US
Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.
Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
Top Skills
What We Do
Chaucer are a leading specialty (re)insurance group working with brokers, coverholders and clients to protect and support business activities around the world. Our services are accessed both through Lloyd’s of London and the company markets.
We are defined by an enterprising, bespoke approach to (re)insurance, enabled by the individual character, experience and imagination of our expert teams.
Chaucer is a member of the China Re Group and backed by their financial and operational resources. China Re is one of the world’s largest reinsurance companies whose outstanding and comprehensive strength is rated A (excellent) by AM Best and A (strong) by S&P Global Rating.
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