Senior Legal Expenses Underwriter

Senior Legal Expenses Underwriter

Job Title: Senior Legal Expenses Underwriter
Contract Type: Permanent
Location: Sydney
Reference: 582680
Job Published: August 20, 2020 13:46

Job Description


▪ Bachelor’s Degree in Law, Economics, Business (or other appropriate discipline)
▪ 5-7 years professional underwriting experience
▪ Strong experience in underwriting profitable business within Liability market (Management / D&O) (or similar)
▪ Specialist expert understanding of Insurance product range and portfolio
▪ Policy and Market Management: Solid understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, renewal, and cancellation
▪ Strong insurance understanding of the legal and regulatory framework within Australia
▪ Ability to research and analyse highly complex data, from multiple sources in detail; identify and resolve issues before they occur
▪ Ability to prepare product calculations and discuss and review with actuarial areas ▪ Ability to work independently and accurately to confidently and proactively advise leadership team
▪ Provide guidance and insight to sales on determining new business

Highly desirable

▪ Stakeholder Management
▪ Establish relationships with stakeholders at a peer group level and within the Australian Insurance market
▪ Strong understanding of the legal landscape product development and claims handling
▪ Sensible judgement and attention to detail
▪ Risk Assessment and Management: Ability to assess inherent risk exposures relevant to Legal Expense Insurance
▪ Contract Drafting and Interpretation: Design, develop and implement consistent wordings
▪ Pricing and Market Management: Analyse current performance against various benchmarks to ensure adequate progress and satisfactory performance
▪ Excellent communication and presentation skills and ability to express ideas and projects clearly, both written and verbally

Overview Senior Underwriter

As a start-up, there are many aspects that this role will be involved in. Primarily you will be responsible for independently underwriting profitable new and renewal business to meet Legal Expense Insurance targets, as well as to negotiate participation, pricing and terms and conditions for (key) clients. In addition, you will have the responsibility to research and develop new Legal Expense Insurance products and opportunities in conjunction with sales and stakeholders. We are expecting that you develop and maintain strong relationships with external stakeholders and support expert teams and / or directors & management based on your profound underwriting know-how.
Management of policy documentation and online systems will also be part of the ongoing role. 

▪ Independently underwrite new and renewal accounts within assigned authorities to meet top and bottom-line targets (regional and/or global)
▪ Underwrite in line with Legal Expense Insurance governance framework – i.e. Underwriting Authorities, Underwriting Guidelines, Rules and Principles 
Negotiate participation, pricing and terms and conditions with customers
▪ Ensure contract certainty is achieved on all accounts at time of inception
Policy Documentation and Administration
▪ Ensure accurate policy documentation issued to broker (where its the companies responsibility to do so) or broker has issued documentation (where broker responsibility) independently
▪ File maintenance – ensure files are established (whether electronic or paper) and maintained for each risk and transaction ▪ Proactively support completion of policy administration and credit control processes
Market Management
▪ Proactively drive the companies acquisition of new business and actively drive the portfolio management for (key) clients and brokers (including client and broker negotiations where necessary)

Relationship Management

▪ Positively represent the company externally to the market with (key) clients
▪ Proactively drive involvement of functional areas in the Underwriting process, including e.g. Head Office, Actuary & Product department, Risk Management, Claims, Operations
▪ Develop and maintain strong relationships with relevant stakeholders in close cooperation with the management and sales team

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