Underwriter - Cyber Risks

About the role

To underwrite a Cyber & Technology account within the US Cyber Risks team and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.

Key Relationships

• Brokers
• underwriters
• claims
• wordings
• insureds
• external clients and suppliers

Underwriting Key Responsibilities

• Develop and underwrite a profitable portfolio of Cyber & Technology business as part of the US Cyber Risks team.
• Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
• Maintain and develop non-insurance service offerings to insureds and others.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Cyber & Technology account.
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Cyber Risks.
• Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley's US subsidiaries or internal MGAs.
• Develop a good working relationship with the claims managers on this class of business.

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
• Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

General Leverage Networking Opportunities

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
• Develop best practice and disseminate business and class knowledge within the Cyber Risks teams.
• Work with peers within Cyber & Technology and the US Cyber Risks team to maximise business opportunities and profitability within the department.

Production of Presentations and Marketing Literature

• Production of presentations and marketing literature as required.

Production of Business Plans/Research Documents

• Production of business plans/research documents for the US Cyber Risks account as required.

Skills & Abilities

• Proficient underwriting skills
• Accurate and numerate
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Able to manage time, meet deadlines and prioritize
• Motivational skills

Knowledge & Experience

• General commercial and financial knowledge
• Experience in insurance industry
• 3-5 years' experience of Cyber & Technology underwriting or broking
• Thorough knowledge of underwriting policy, philosophy and practice
• Advanced knowledge of underwriting processes and systems
• Client service experience
• Aptitude & Disposition
• Result focused, self-motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker as well as able to work on own initiative
• Customer focused, with a strong ethic of service and fairness to the customer

Competencies

• Achievement drive
• Analytical thinking
• Strategic thinking
• Service focus
• Team working
• Conceptual thinking
• Forward thinking