Senior Underwriter - Fleet

Senior Underwriter - Fleet

Reporting to: Product Manager

Division/ Team: ERS - Underwriting

Location: London

Regulated Position?: No

Position held within 3 Lines Model: 1^st Line

About us

Starr is a global insurance and investment organisation providing property and casualty insurance solutions to business and industry. Starr has grown into one of the world’s fastest‑expanding insurance organisations, writing business in 128 countries across six continents. Our talented and experienced associates manage risk and ultimately support the profitable growth of organisations in a dynamic, competitive and ever-changing marketplace. Join us and become part of our talented and passionate workforce.

ERS Syndicate 218 at Lloyds is managed by Starr. We are the UK’s largest specialist motor insurer with an A+ rating and have been making motoring passions and livelihoods possible since 1946. We work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.

Role Purpose

The Senior Underwriter’s primary responsibilities are for the execution of our underwriting strategy and development of our underwriting appetite, working closely with the Pricing and Technology teams, as well as other stakeholders across the business including our operations teams. 

You will be responsible for materially contributing to the achievement of our short to medium-term financial plans through translating specialist underwriting knowledge into an implementable set of rules.

The role is highly market visible, involving extensive broker contact when communicating our strategy, managing the financial performance of existing relationships and in seeking to broaden our market penetration.

Success in the role requires extensive technical expertise in our product(s) and frequent collaboration with other business functions to ensure that we leverage capabilities from across the business in delivering first class propositions to our chosen market.

Key Responsibilities

• Leading the development of the underwriting strategy for our product(s) based on your market knowledge and product expertise whilst being responsible for executing the underwriting strategy through working with the product delivery team. 
• Contributing to the management of portfolio performance through the analysis of results, execution of our selection and pricing strategies and providing recommendations that will drive continuous performance improvement, thus ensuring that we will meet or exceed our financial plans.
• Working alongside the Product Performance Analysts within the team, providing them with direction and support to improve their knowledge and utilising their skills to support the delivery of our strategic goals.
• Providing input to constantly refine our underwriting appetite to ensure that we take advantage of market opportunities and outperform our peers through superior risk selection and proactive management of our business mix.
• Acting as a point of technical referral from other members of the underwriting team, brokers, and other internal functions, using your extensive risk, product and pricing knowledge to inform appropriate decisions in respect of those referrals.
• Provide feedback to Product Managers & Heads of Class and to members of our Pricing team relating to the effectiveness of our risk pricing models to help us constantly drive enhanced sophistication and accuracy in our risk pricing.
• Working closely with all areas of the business to ensure that we deliver a clear and seamless set of propositions to the market.
• Understanding the risk environment in which we operate. Contribution to the identification and mitigation of the key risks which threaten the success and sustainability of our business.
• Providing substantial contribution to our “first line of defence” activities, using audit and peer-review tools, complimented by exception reporting and performance MI, to constantly assess and monitor our underwriting activities to ensure that all business is being written in accordance with our stated underwriting authorities, agreed processes and in compliance with our regulatory and conduct standards.
• Establishing and continually enhancing a range of business relationships with our key partners, ensuring that we understand and satisfy their needs and those of their customers.
• Always ensuring that, we operate in a way which adheres to all legal and regulatory provisions. We are a business which takes our stated values and behaviours seriously and are absolutely committed to always acting in ways which are ethical, compliant and appropriate.

The above duties and responsibilities are not an exhaustive list, and you may be required to undertake other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.

Conduct Rules

All employees are subject to the following regulatory conduct rules:

• You must act with integrity.
• You must act with due care, skill and diligence.
• You must be open and cooperative with the FCA, the PRA and other regulators.
• You must pay due regard to the interests of customers and treat them fairly.
• You must observe proper standards of market conduct
• You must act to deliver good outcomes for retail customers

Qualifications, skills and experience

This role carries strategic input and financial responsibility as well as being recognised as a market leading subject matter expert in our product(s). We therefore require our role-holders to demonstrate leadership and management capabilities and to possess the following skills, attributes and knowledge:

• The ability to collaborate with a talented team of people towards the achievement of a set of challenging financial targets.
• Possessing extensive technical knowledge of the product(s), including the features of the product, factors that drive product performance, market dynamics which influence how the product is delivered and the requirements of customers using the product(s).
• An analytical mindset with comprehensive skills using Microsoft Excel within your role.
• To demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally.
• The ability to produce coherent and comprehensive Microsoft PowerPoint presentations to be presented at various committees, including senior stakeholders, both internally and externally.
• Extensive commercial awareness, being able to spot and take advantage of opportunities and to fulfil their role in a way which enhances our financial performance.
• Detailed understanding of pricing practices and methodologies with the ability and experience to help us constantly enhance our pricing capability, providing insight and feedback on our pricing models
• Interpersonal skills which will allow you to build and maintain value-adding relationships. You must be able to articulate what a mutually beneficial relationship looks like and be comfortable having difficult conversations with business-partners and colleagues.
• Extensive knowledge of and experience in a sophisticated underwriting control environment which allows us to execute ‘first line of defence’ activity, with a focus on constant performance improvement.
• Extensive knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market.

Core behavioural expectations

• Analysis and decision making
• Innovation and problem solving
• Strategic perspective
• Commerciality
• Performance focus
• Communication and influence

Starr is an equal opportunity employer, which means we will consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.

Additional Information

• A full job description can be seen here.