GeneralJob Title: Underwriting Manager – Miscellaneous Medical & Life Sciences
Division: Specialty Risks
Reports To:
As per Beazley’s organisation chart
Key Relationships: Brokers, Underwriters, Claims, Coverholders, external Clients and Suppliers
Job Summary:
To underwrite a Miscellaneous Medical account within the Healthcare 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. Manage a team of underwriters.
Flsa: Exempt
Key Responsibilities:
Underwriting ManagerDevelop and oversee the underwriting of a profitable Miscellaneous Medical portfolio with a focus on the South Region.
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 business, whilst working with direct reports to assist them to do the same.
Monitor premiums, costs and claims ratios throughout the portfolio and take corrective measures if necessary to ensure long term profitability.
Monitor underwriters in their daily work to ensure profitability as well as efficient and cost-effective administration of the account.
Work closely with claims managers to ensure team are aware of profitability and claims trends.
UnderwritingDevelop and underwrite a profitable portfolio of Miscellaneous Medical business as part of the Healthcare team.
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 and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the Miscellaneous Medical team, Healthcare and Specialty Risks.
Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.
Client ManagementAdvise, 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.
Maintenance of good business relationships with brokers.
Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
Team LeadershipProvide leadership, direction and support to the team.
Foster a spirit of inclusion, teamwork and unity that reflects Beazley’s overall workplace culture, values and appreciation of the benefits of diversity.
Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential and ensure continuous development of them and their wider team.
Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives.
Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution. Conversely, providing timely feedback to address poor performance, taking disciplinary action as appropriate.
Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc.
Encourage knowledge sharing and effective delegation to minimise key person dependencies.
Work with other team managers ensuring team resources overall are effectively utilised and people are appropriately challenged.
Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.
Work with People & Sustainability as appropriate to escalate performance concerns ensuring set objectives are clear and measurable and progress is tracked accordingly.
GeneralLeverage 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 Healthcare and Specialty Risks team.
Work with peers within Healthcare and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
Production of presentations and marketing literature as required.
Production of business plans/research documents for the Miscellaneous Medical account as required.
Personal SpecificationSkills & AbilitiesProficient underwriting skills
Accurate and numerate
Computer skills – good working knowledge of MS Office, advanced Excel skills
Strong analytical skills with attention to detail
Able to communicate effectively with others, both verbally and in writing
Ability to manage time, meet deadlines and prioritise
Motivational skills
People management skills
Knowledge & ExperienceGeneral commercial and financial knowledge
Experience in insurance industry
Experience of Miscellaneous Medical underwriting
Thorough knowledge of underwriting policy, philosophy and practice
Advanced knowledge of underwriting processes and systems
Client service experience
Aptitude & DispositionResult 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
CompetenciesAchievement drive
Analytical thinking
Strategic thinking
Service focus
Team working
Forward thinking
Developing people
Conceptual thinking
Who We Are:
Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.
Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.
Our Culture:
We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.
Be bold
Strive for better
Do the right thing
Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us – our ambitious inclusion & diversity and sustainability targets are testament to this.
We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.
Explore a variety of networks to assist with professional and/or personal development. Our Employee Networks include:
Beazley RACE - Including, understanding and celebrating People of Colour
Beazley SHE - Successful, High potential, Empowered women in insurance
Beazley Proud - Our global LGBTQ+ community
Beazley Wellbeing - Supporting employees with their mental wellbeing
Beazley Families - Supporting families and parents-to-be
We Encourage Internal Career Progression At Beazley, Giving You All The Tools You Need To Drive Your Own Career Here, Such AsInternal Pathways (helping you grow into an underwriting role)
iLearn (our own learning & development platform)
LinkedIn Learning
Mentorship program
External qualification sponsorship
Continuing education and tuition reimbursement
Secondment assignments
The RewardsThe opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
Attractive base compensation and discretionary performance related bonus
Competitively priced medical, dental and vision insurance
Company paid life, and short- and long-term disability insurance
401(k) plan with 5% company match and immediate vesting
22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
Up to $700 reimbursement for home office setup
Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
Up to 26 weeks of fully paid parental leave
Up to 2.5 days paid annually for volunteering at a charity of your choice
Flexible working policy, trusting our employees to do what works best for them and their teams
Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is $150,000 - $175,000 per year plus discretionary annual bonus.