Role Title: Underwriting Assistant
Division: Business Support
Department: Operations
Location: London
Type: Permanent
About the Role:
The underwriting assistant role within operations at LSM is an administrative role and is the first link for the underwriting teams into business support. The primary objective is to ensure risks and any amendments to those risks written by the underwriting teams are processed onto the system in an accurate and timely manner.
The ability to effectively communicate with many teams across LSM and prioritise work according to various system close dates, SLAs and KPIs is a fundamental attribute required to fulfil the role.
We currently have vacancies in renewable energy, offshore energy, D&O and Aviation.
About the Department & Team:
Underwriting Support is a team in the business support division which sits within the wider operations department. As a team we ensure our offshore colleagues are provided all the information required to accurately process premiums onto our policy admin systems within the agreed SLAs. Supporting the underwriting teams in general administration of the policy file, reporting, operational process advice and guidance and other ad-hoc requirements also forms an important part of the role the team plays within the business. We also work very closely with the cash and credit control functions to ensure any issues or queries relating to payments are investigated and actioned accordingly.
The operations department also comprises divisions such as MI and analytics, claims operations, facilities, strategic operations and IT. Data timeliness, quality and accuracy are at the heart of our core responsibilities and processes and together we provide effective support services to the whole business enabling LSM to meet its revenue, growth and other strategic goals.
Key Responsibilities:
Documentation & Risk Administration:
- Accurate and timely creation/update of documentation required to process submissions, policies and policy updates onto the processing systems for both syndicate & company risks. These include but are not limited to frontsheets and raters.
- Liaise with underwriting teams to ensure all required information has been provided for entry onto the processing documentation.
- Passes the fully completed processing documentation onto our offshore processing partners within SLA for entry onto the systems.
- For Company risks ensure a 4-eye check is completed on the financial information entered by our offshore processing partners and responds for either sign off or requesting correction.
- Responds to queries from the offshore processing partners and/or QC team within SLA.
- Ensure documentation is filed according to the teams prescribed filing structure.
- Monitors own performance against team’s SLAs and KPIs.
- Respond positively when data quality issues are identified within your work and takes corrective actions in timely manner.
- Assist in the resolution of all transactional data management issues within SLAs.
- Ensure regular weekly work is carried out resolving any unallocated cash and outstanding debt queries and investigations.
- Support various month close procedures as directed.
- Ensure knowledge of the systems is kept up to date by personally processing between 5-10 items a month.
- Investigate any items on team monitoring reports sent by underwriting support management and respond accordingly in a timely manner.
Communication:
- Inform underwriting support management and underwriting teams of any potential backlogs or build-up of work as required.
- Keeps underwriting support management and underwriting teams up to date with progress against SLAs and KPIs weekly.
- Ensure all queries are responded to within 3 days of receipt, if no resolution then advise query originator of the delay.
- Actively participate in team meetings and 1:1 catch ups with team mangers.
Ancillary Tasks & Teamwork:
- Assist with any audit activities as required.
- Work with underwriting support management to ensure any training materials either internal or for our offshore processing partners is up to date and contains the correct information.
- Train members of the offshore processing team, new starters and other support teams as and when required.
- Work with a continuous improvement mindset and raise any possibilities for improvement to our processes to underwriting support management.
- Assist and support the team on ad hoc tasks and projects or other duties as reasonably requested.
- Contribute to system and process change activities as directed by Underwriting Support Management.
Stakeholder Management:
- Regularly meet and have open dialogue with the underwriting customers, to ensure:
o That service levels are being met
o Underwriter feedback is captured and where necessary, acted upon.
o Data quality issues are identified promptly
o New administrative tasks can be captured and assessed in good time.
- Support other stakeholders and colleagues as required, e.g. Claims Adjusters, Risk Engineers Exposure Management
- Liaise with Brokers to manage accounts as required.
- Raise important or critical business issues to the Underwriting Support Management team.
Skills and Experience:
Relevant insurance experience, preferably within the London/ Lloyd’s Market desirable.- Experience with transactional insurance system Genius/IRIS highly desirable.
- Good verbal and written communication skills.
- Good MS Office skills; in particular Excel.
- Experience of working to varying and tight deadlines.
- Ability to work independently.
- Strong analytical skills required.
About Liberty Specialty Markets (LSM):
Liberty Specialty Markets is part of Liberty Mutual Insurance Group, a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
Offering a vibrant and inclusive environment and committing to their career development.- Promoting diversity, equality and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
For more information, please follow the links below:
https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us
https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion