A market leading Global and Lloyd's Market Insurance company are currently recruiting for a Head of Underwriting Operations
London Based (3 Day London, 2 days home)
Responsible for managing Underwriting Operations and the Operations Centre for UK and Europe to ensure delivery of enhanced support and guidance to the Underwriting teams. Working closely with all business functions to ensure a complete support for the Underwriting community.
The role operates across all business units and territories for Europe, and will need to ensure Lloyd’s minimum standards are achieved.
Key Responsibilities
Manage and lead Underwriting Operations
Underwriting Efficiency:
- Create a vision & target operating model for underwriting operations to move tasks off underwriters desks
- Implement and manage Underwriting Centre; vision, model and strategy
- Review TOMs for Underwriting, work with leaders or stakeholders to ensure they are fit for purpose.
- Take the business strategy and operationalise it
- Support digitalization of simple business by becoming a strategic enabler
- Improve customer service and develop standards
- Ensure consistency of all underwriting process regardless of platform or Business Unit, documenting any differences
- Develop a collaborative high performing team culture both in team and across the business
- Accountable for all touch points where Underwriting touches the business functions ie Finance, CSC, ERM, MI and data / actuarial
- Comply with all applicable legal and regulatory requirements and ensure, at a level appropriate to the position, that appropriate measures are in place to ensure this compliance
Underwriting Optimisation:
- Accountable for issuing, maintaining and implementing a consistent framework for Underwriting authorities
- Tracking and assurance that Underwriters adhere to processes and future improvements (to validate adequacy), setting and respecting SLA’s
- Ensure Underwriters are trained on new and existing processes, requirements and complying with the best practice guidelines and or compliance
- Ensure we consistently capture data for MI reporting purposes
- Ensure premium entries are accurately recorded (deductions, commissions, premiums) and outstanding payments chased
- Monitor EPI against signed and ensure accuracy is maintained in accordance with agreed thresholds (thresholds to be agreed)
Skills, Knowledge & Experience
- Proven leadership skills
- Change management skills
- Strong stakeholder management
- Technical understanding of commercial underwriting
- Understanding of the insurance industry and market
- Typically a minimum of 10+ years of related insurance work experience, with 5-8 years management experience.
- ACII Desirable
