Term Life Assurance Underwriter
Term Life Assurance Underwriter for Life Insurance Company – City London
Our Client is looking to recruit a Life Underwriter with at least 5 to 10 years experience of working within the insurance market in the UK.
You will have experience of managing and underwriting Schemes for life insurance cover.
The Client is keen to interview candidates who have had a background in medical underwriting and also ideally worked as an actuary.
You will be involved in the pricing of life term assurance for customers in the UK and any expertise in this arena would be a big plus.
For this role you must a very sound and strong mathematical background.
The team size for the Life Underwriting team is 6 people.
You will be the number 2 in the Life Underwriting team at this company and therefore must have the confidence and flair to deal with personnel at all levels.
The following are some aspects of the role:
A minimum 3 new coverholder arrangements each year with potential annual income within 3 years from inception of £100,000 each, with a targeted underwriting profit of 20%.
Ensure all allocated Coverholders perform to expected standards. Assist Coverholders to target profitable growth of at least 10% per annum with an underwriting profit net of expenses and PC's of at least 25% over a 3 year cycle.
Responsible for the monitoring of performance and provision of statistical information to include but not limited to loss ratio's earned and incurred, immediately reporting deviance from planned outcomes and escalating any identified concerns to the Active Underwriter without delay.
Proven use of understanding and experience of life business to aid the development of activity in its' chosen markets by direct and indirect action and supporting the team as required, including but not limited to keeping up to date with Lloyd's/FSA regulations and providing training for other members of staff where appropriate.
Provide quotations and fulfilment as required.
Develop the subscription market and direct business to achieve at least £250,000 new business per annum, with a targeted underwriting profit of 20%.
Develop and maintain strong connections with brokers and distributors to promote and secure business opportunities.
Assist the AU in the development of strong and cost effective reinsurance programs. Provide support to reinsurance processing teams as required.
Provide support for the development of junior staff.
The position will be based in the City London.
The salary for this role will be in the range £60K - £75K plus benefits.
Please do send your CV to cv@nexusjobs.com in MS Word format urgently.