OverviewThe roleERS is a leading underwriter of a wide range of specialist motor insurance products.
Within ERS's strategy of being the UK's leading specialist motor insurer, our focus is on delivering sustainable, high margin growth in these segments through the provision of high quality propositions to a wide range of broker partners.The Regional Trading Underwriter's primary responsibilities are for the execution of our underwriting strategy and underwriting appetite, and materially contributing to the achievement of our short and medium term financial plans.
The Regional Trading Underwriter's role is responsible for driving the performance of a selected number of brokers' portfolios often located in the broker's office to extract the budgeted revenue whilst meeting our budgeted loss ratios.
This is achieved through superior underwriting and pricing skill and honed negotiation skills.Work with the Head of Underwriting / Product Manager to define and deliver the Regional Underwriting Model, including how and who best to engage with the brokers and what the optimum business model is to deliver our financial plans.The role is highly market visible, involving extensive broker contact when communicating our strategy, managing the financial performance of existing relationships and in seeking to broaden our market penetration.Success in the role requires extensive technical expertise in our product and frequent collaboration with other business functions to ensure that we leverage capabilities from across the business in delivering first class propositions to our chosen market.Key responsibilitiesWork with the head of segment to define and agree the Regional Underwriting business model and execute this in line with plan to ensure that maximum value is extracted from the region and broker panel.Identify a panel of brokers to support our business model and ensure optimum coverage for the region.Underwrite a range of complex, unusual and non-standard risks in accordance with our stated underwriting appetite.
Provide input and feedback to constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix.Meet or exceed our financial plans for the individual broker panel and find new opportunities to deliver profitable growth.Establish a firm reputation for being the 'go to' Underwriter for your region / brokers.Provide input to the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise and be responsible for executing that strategy.Contribute to the management of portfolio performance through the analysis of results, execution of our selection and pricing strategies and providing recommendations as to actions which will drive continuous performance improvement.Provide feedback to Product Managers and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing.Work closely with all areas of the business to ensure that we deliver a clear and seamless set of propositions to the market.Understand the risk environment in which we operate and contribute to the identification of and help manage the key risks which threaten the success and sustainability of our business.Use audit and peer review tools, complemented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure compliance with our stated underwriting authorities and regulatory standards.Use existing market knowledge to establish and continually enhance a range of business relationships with our key partners.Ensure that we operate in a way that is consistent with all legal and regulatory provisions, acting ethically and appropriately at all times.The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies.
This description may be varied from time to time to reflect changing business requirements.Essential qualifications, skills and experienceThis role carries strategic and financial responsibility as well as being recognized as a market leading subject matter expert in our product(s).
We therefore require our role holders to demonstrate leadership and management capabilities and to possess the following skills, attributes and knowledge:Extensive technical knowledge of the product(s), including features, factors that drive performance, market dynamics, and customer requirements.Strong portfolio management skills with the ability to manage financial performance in a complex and competitive market.Demonstrate gravitas and clarity of purpose to instill confidence in senior stakeholders.Commercially aware with strong negotiation skills.Detailed understanding of pricing practices and methodologies.Interpersonal skills to build and maintain value-adding relationships, including handling difficult conversations.Extensive knowledge of underwriting control environments focused on performance improvement.Knowledge of the legal, regulatory, and compliance provisions applicable to the UK motor insurance market.Ability to maintain high levels of personal motivation while working remotely.The combination of these skills, experiences, and knowledge will ensure that you are able to materially contribute to the development of our underwriting strategy and risk appetite and to the achievement of our short and longer term financial plans.BenefitsCompetitive Benchmarked Salary25 days holidayDiscretionary bonus schemeEmployee assistance programmeAnnual holiday buy (up to 3 extra days)Salary sacrifice benefitsAnnual benefits reviewsThe option for professional qualifications and study supportAdditional InformationA full job description can be seen here.
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