A new vacancy has arisen with a legal insurance company looking for a solictor, ILEX or licensed conveyancer to join them as an underwriter. The salary range on this post is £30-50k. The company have contacted us because they are interested in recruiting a lawyer into the role as an alternative option to an underwriter per se. A lot of their insurance products seem to be linked to conveyancing and wills & probate. The company is located in Fenchurch Street, London EC3M. This is a permanent full time salaried role.
A job description is below – if you would like to apply please have a read through and let me know.
Underwriter or Senior Underwriter
To provide a professional and compliant legal indemnity underwriting service to all clients, current and prospective, including but not limited to: solicitors, licensed conveyancers, and brokers, with the intention of providing quotations and ultimately, policies to meet internal targets.
Underwriting all development, commercial and residential risks, with a focus on:
” providing a quality service that is fast, accurate, effective, transparent and professional;
” actively developing business opportunities
” identifying, establishing and building business relationships
” maximising business placement;
” maximising legal indemnity/insurer brand awareness including through presentations to generate income/cross selling opportunities.
” Conduct a thorough analysis of risks to ensure they are appropriate for the business, by assessing:
o Whether the risk is acceptable within the parameters and guidelines agreed with the insurer
o the level of premium for which to accept the risk on behalf of the Insurer to generate income and profit to the company
” Ensure the acceptability of a risk is always considered in line with company guidelines, procedures and processes.
” Determine correct pricing based on financial and competition analysis, and in line with compliance requirements, providing appropriate and justifiable quotations for risks.
” Act strictly within the personal authority issued by the Insurer from time to time.
” Complete the internal and external written referral procedure, as required, in an efficient manner. Including:
o referring risks outside of authority or knowledge-base to an Underwriter with the appropriate experience and authority level, with recommendations, and
o accepting verbal and written referrals from underwriters whilst effectively managing own work load.
” Escalate issues outside of remit or knowledge-base to Management, with recommended solutions.
” Assist in the creation of new policy wordings.
” Identify and manage any regulatory issues relating to new business initiatives.
” Ensure that all new enquiries are allocated in accordance with the business processes and in line with individual knowledge/capability and client relationships within the team.
” Provide cover for management if requested, or should the need arise.
” Ensure any changes that could impact the business are highlighted and communicated appropriately.
” Identify needs and provide training, guidance and mentoring to more junior staff as requested, or as required.
” Market products, services and the business throughout the Insurance community, attending client/site visits as necessary, to increase enquiries and foster client relationships.
” Attend from time-to-time appropriate business development and individual training events, both: inside, and outside, of core business hours.
” Provide advice and assistance to colleagues as requested and/or necessary in order to ensure the smooth running of the business and excellent customer service levels.
” Keep the necessary stakeholders advised of progress on underwriting of risks as necessary to provide excellent customer service.
” Liaise with clients (insurers/solicitors/brokers/licensed conveyancers) by email and phone, responding to requests and queries as a matter of priority, with the aim of progressing risks to quotation.
” Ensure Sanctions checks are correctly carried out.
” Strive to constantly increase, maintain and keep abreast of:
o legal indemnity and related products,
o property law and conveyancing procedure,
o insurance law, rules and procedures.
o Legal & regulatory rules
” Undertake the necessary research in order to conclude an issue as and when it arises.
” Ensure cover notes and policies are issued correctly and in a timely manner, in line with Company policies and guidelines, and always in line with service levels expected.
” Disseminate information to the rest of the team and/or across the business as necessary, to aid business success.
” Ensure maintenance of accurate and complete electronic and/or paper underwriting files, and as necessary check files in preparation for audit.