Apprentice Insurance Professional

3, Whiting Street, Bury St. Edmunds, IP33 1NX
£18,000.00 - £22,000.00 annually
11 Jan 2021
31 Jan 2021
Role Type
Apprenticeship, Higher
Start Date
An exciting opportunity to work within a front line Lloyd's MGA with nearly 30 years' experience in the market and long established relationships within the Broking community.

We underwrite predominantly non-standard residential property policies, working to provide solutions to complex risks.

We have recently been recognised with Chartered status by the Cii as a Chartered Underwriting Agent and are looking to add more experienced and qualified staff to the team.

The successful candidate will underwrite non-standard property insurance on a range of product types, using in house practices and working within binding authority guidelines.

You will have the opportunity to apply your own judgement and experience to your cases to ensure a good balance of a commercial approach while protecting the performance of the book.

This opportunity is a formal apprenticeship that combines extensive in-house training and on the job experience, with formal study towards the CII's level 4 Diploma in Insurance. If you are ready to take your household insurance experience on to the next level and start your career as an Underwriter, this could be the role for you in 2021.

This is a full time role with the apprenticeship element expected to last 24 months, but will be offered on a permanent contract.

Job Purpose
  • To provide support and work with the business development team ensuring all Mid Term Adjustments, Renewals and Extensions are completed.
  • To develop an ability, through training and experience, to underwrite non-standard property insurance policies within the binder limits.
  • Negotiating with brokers, studying various insurance proposals by gathering and assessing background information in order to effectively underwrite the risk involved.
  • You will be responsible for calculating the possible risk and deciding how much individuals should pay for insurance whilst remaining commercial at all times.
  • Develop an understanding of complex underwriting cases.

Key Result Areas
  • Deliver excellent customer service to clients / IFA's and Brokers throughout
  • Making contact with clients paying annually to collect payment and secure the business
  • Study for, and pass, the CII's Diploma in Insurance as part of your apprenticeship
  • Assisting Underwriters with support tasks to ensure policies can be underwritten correctly and in a timely manner.
  • Dealing with Mid Term Adjustment enquiries and obtaining the information required to underwrite these changes.
  • Make contact with brokers who have lapsed policies based on price to see if we can generate new business the following year
  • Learning to underwrite renewals for all products without supervision
  • Learning to underwrite changes to all policy types without supervision
  • Making decisions and assisting with premium reviews both at renewal and mid term
  • Responding to underwriting referrals; providing advice and guidance on underwriting matters
  • Learning how to check and authorise all renewals, both referred and non-referred
  • Monitor renewals offered and report back to the Business Retention Manager with any concerns
  • Keep the Business Retention Manager informed of any changes in the market which may cause the business to suffer
  • Ensuring renewal retention stays at a minimum of 85%
  • Be proactive in considering the department's processes and in highlighting the need for change/improvement

Requirements and prospects

Desired skills

  • Excellent communication and negotiation skills both over the telephone and in writing
  • Planning, organisational and time-management skills
  • Willingly provides help and support for others
  • Eye for detail with accurate data entry and typing skills
  • Demonstrates a 'can do' attitude
  • Computer literate and thorough understanding of magenta insurance Trading Platform

Technical Experience:
  • Minimum of 2 years Insurance experience
  • Minimum of 1 years Household insurance experience

Personal qualities

  • Willingly provides help and support for others
  • Hardworking
  • Enthusiastic
  • Motivated
  • Punctual

Desired qualifications

  • A Levels or equivalent qualifications
  • CII Certificate in Insurance

Future prospects

Permanant role and progression within the business upon completion of the apprenticeship.

Things to consider

The Apprenticeship National Minimum Wage guide (ANMW):

Similar jobs

More searches like this

Similar jobs