Assistant Underwriter - Jewellery Fine Art & Specie

Job Title:                     Assistant Underwriter

Division:                      Property/Jewellers Block, Fine Arts & Specie

Reports To:                  As per Beazley Org Structure

Key Relationships:     

Brokers, Cedants, Line Manager, Underwriters, Underwriting Assistants, Operation teams, Claims team, Credit control team, Compliance team as well as other internal and external clients and suppliers.

Job Summary             

To provide underwriting and operational support to the APAC Jewellery, Fine Art and Specie team in achieving its business plan. The role will support the review of new and renewal business, preparation and processing of policy changes, and management of account activities throughout the underwriting lifecycle. The role will help ensure that underwriting and administrative processes are completed efficiently, accurately and in accordance with applicable underwriting guidelines and control standards.

Key Responsibilities  

Underwriting

• Assist Underwriters in assessing risks, preparing proposed terms and conditions, undertaking premium modelling and monitoring account profitability, in accordance with applicable underwriting guidelines.
• Assist Underwriters in determining and documenting appropriate terms and conditions for new business, renewals and endorsements.
• Monitor premiums, costs and claims ratios at account and portfolio level, identify material trends or concerns, and refer these to the appropriate Underwriter for review and action.
• Assist in portfolio analysis, accumulation monitoring, claims trend analysis and production of management information reports.
• Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.

Underwriting Support

• Support the Underwriters to deliver excellence services to our clients with efficiency and accuracy
• Provide pre-underwriting and post-binding support to Underwriters, consistent with underwriting guidelines,
• Monitor and ensure underwriting controls are present and completed within the agreed SLA for the risks underwritten by the team.
• Review underwriting documentation, quotations, slips, certificates, endorsements, closings, bordereaux and/or SOAs etc to secure contract certainty & data accuracy;
• Serve as the first point of contact for any internal administration/operation related  inquiries during the account life cycle for all risks written by the team.
• Work closely with Underwriting & Claims Operation (UCO) supporting team to ensure timely and accurate processing of the business and system entry for the risks underwritten by the team
• Monitor and chase for closings, bordereaux, SOAs and renewal accounts due timely
• Engage with credit control/UCO team to monitor the premium payment status for risks written, and provide assistance to credit control/UOI team if required to secure timely and accurate premium payment
• Produce business reports, statistics and information with data accuracy, ad hoc reports, market research, presentations and marketing literature as requested
• Interact with other teams within the Company e.g. Claims, Credit control,  Compliance and other teams on matters affecting or related to accounts within the portfolio to ensure full compliance and effective and efficient solutions as may be required to meet internal and external regulatory/compliance/ business requirements;
• Attend underwriting training and internal & external meetings as appropriate or required
• Other duties assigned from time to time

Broker/Client Interaction

• Support Underwriters in developing and maintaining effective relationships with brokers, cedants and other key business partners.
• Provide professional, accurate and timely service through email, telephone, virtual meetings and face-to-face interaction.
• Act as an initial point of contact for routine administration and operational enquiries relating to assigned accounts, escalating technical, complex or sensitive matters to the appropriate Underwriter.
• Maintain and develop good business relationships with internal and external clients by responding to all client queries in a timely and accurate fashion
• Support the promotion of Beazley Jewellery, Fine Art and Specie capabilities across the Asia-Pacific region, as appropriate to the individual’s experience and development.

Knowledge and Experience/ Essential Criteria

• Strong interest in Jewellery, Fine Art and Specie Insurance, with a desire to develop into a recognised and respected JFAS Underwriter within the specialist insurance market.
• Demonstrates patience, commitment and a long-term growth mindset, with a willingness to develop specialist JFAS underwriting expertise and progress alongside the growth of the APAC JFAS business.
• Bachelor’s degree, preferably in a quantitative, analytical or business-related discipline such as Science, Engineering, Mathematics, Economics, Finance or Data Analytics, or equivalent relevant professional experience.
• Strong analytical and problem-solving skills, with the ability and willingness to use technology, data analytics tools and Company resources to improve underwriting efficiency, data accuracy and operational effectiveness.
• Strong attention to detail, intellectual curiosity, willingness to learn and genuine interest in specialty insurance products
• Excellent communication and interpersonal skills, with the ability to work effectively with brokers, clients and internal stakeholders.
• Positive, open-minded, collaborative and solution-oriented mindset, with the ability to contribute effectively within a regional team environment.
• Strong organisational skills, with the ability to manage competing priorities, meet deadlines and consistently deliver high-quality work.
• Demonstrated commitment to continuous learning, professional development and the achievement of relevant insurance qualifications.
• Candidate with 2-5 years' experience in insurance, financial services or other relevant industries is preferred. Candidates with more extensive relevant experience may also be considered, depending on the appropriate role level.
• Applications from fresh graduates seeking an underwriting trainee pathway will also be considered.
• Previous experience as an Assistant Underwriter or Underwriting Assistant would be advantageous but is not essential.

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.

We also expect Beazley employees to:  

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct.  Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system. 
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification

This role requires someone result focused, self-motivated, flexible and enthusiastic. This role would be ideal for somebody with a professional approach to interact successfully with other clients, building relationships and an ability to negotiate with both internal and external parties.

Skills and Abilities

• Fluency in English and other languages based on regional business requirements
• Demonstrated ability to build relationships with a wide range of stakeholders
• Accurate and numerate
• Computer skills – good working knowledge of MS Office
• Strong analytical skills with attention to detail
• Effective communication skills (written, verbal, active listening)
• Ability to manage time, meet deadlines and prioritize

Competencies

Aptitude and Disposition 

• Result/outcome focused, self-motivated, flexible and enthusiastic
• Ability to negotiate with both internal and external parties
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker and also able to work on own initiative
• Values continuous personal and professional development

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 employ over 1,500 people globally, hosting a wonderful diversity of cultures, experiences and backgrounds. 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.

• Being bold
• Striving for better
• Doing 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 proud to offer a flexible working environment, where our employees are able to work from the location that they consider most appropriate for the tasks they are undertaking. There will still be a requirement to attend the office based on business need, but our people are empowered to work with their teams to establish a model that works well for the individuals and for stakeholders.

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 as:

• Internal 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
• Beazley SHE - Successful, High potential, Empowered women in insurance
• Beazley Proud - Our global LGBTQ+ community

As a Beazley employee, you are provided access to our fantastic array of benefits. We are committed to offering employees and their families a comprehensive benefits package. Examples of some of our benefits include:

• Lifestyle allowance
• Commuting reimbursement
• Free in-office lunch, daily
• Six months parental leave