Deputy Head of Underwriting

Location:

Dublin

Job Type:

Permanent / Full Time

Sector:

Insurance

Salary:

€100,00 - €120,000 plus benefits

Key Accountabilities:

  • Contribute and actively support the development and delivery of Ireland’s underwriting strategy, which supports Ireland’s risk appetite, delivers profitable growth in Ireland, and sustainable underwriting, underpinned by:
    • Expertise in chosen markets, including personal market presence
    • Customer propositions including product development, pricing, risk appetite in the sectors which our client operates
    • Technical pricing and rate strength to deliver target return on capital and earned loss ratio for each portfolio
    • An effective framework of internal and delegated underwriting authorities, enabling optimal operational decision-making
    • An effective exposure management process (including monitoring), which fully complies with the Centre of Excellence Underwriting Standards
    • Adherence with Centre of Excellence Underwriting Standards, Ireland Risk Appetite & Underwriting Authorisation Agreement
    • Analysis of underwriting performance and proactive utilization of full team to optimize underwriting results, technical competence, and pricing options
    • Responsibility for portfolio optimization and pricing in Ireland, covering the development, monitoring/reviewing, and implementation of competitive pricing reviews within local and Group risk appetite:
    • Review pricing and covers for all niches and all classes of business as required to support the financial objectives of the Company
    • Proactive management of portfolio trends, reporting on all niches quarterly or as required, and preparing a summary document with suggested actions to help deliver desired underwriting result
    • Develop risk quality criteria to inform all Pricing structures
    • Produce pricing rating structures and assist in the development of covers/wordings for new products
    • Analyze the suitability and adequacy of pricing split by account, niche, and broker
    • Monitor and analyze monthly management information to track rate strength and adherence to pricing strategy. Identify any corrective action required
    • Assessment of portfolio opportunities, including schemes or portfolios of business that would contribute to sustained profitable growth
  • Motivate and lead the development and performance of the team to ensure strong underwriting capability and risk selection and compliant, efficient service to brokers and customers:
    • Lead embedding of culture, creating empowered, disciplined, high-performance, and collaborative teams
    • Act as an expert point of referral for underwriting, pricing, negotiation, and service
    • Lead implementation of Group audit actions and local underwriting audit to ensure compliance and quality of underwriting
    • Lead development and utilization of Underwriting Capability Framework
    • In partnership with Group Reinsurance, ensure reinsurance is in place for all business written
  • Operate in line with Ireland’s control environment (inc agreed authorities, business standards), risk management framework, and Ireland regulatory and compliance requirements:
    • Ensure retention of underwriting records in line with regulatory requirements and Centre of Excellence Standards
    • Identify, resolve, and where appropriate, escalate risks to the business
    • Work collaboratively with peers across Ireland, GI, and Group Underwriting, ensuring local Underwriting strategy and practice align to Group
    • Ensure Underwriting quality is in line with Underwriting strategy through:
      • Development and coaching of Underwriting staff
      • Timely and appropriate quality control checks (audits of both internal underwriters and Delegated Authority brokers)
    • Keep up to date with market developments and build a strong, supportive network internally and externally

Key Performance Indicators:

  • Delivery of Ireland business plan, specifically:
    • GWP
    • Underwriting profit
    • COR
    • Retention target
    • New business target
  • Underwriting Results by sector and broker
  • Delivery of Ireland’s underwriting strategy and proposition
  • Timely and technically appropriate responses to all referrals and other contacts
  • Evidence of increased Underwriting technical capability across the function and development of talent across underwriting, including compliance with qualification and CPD requirements
  • Evidence of an increased level of technical knowledge across the business
  • Demonstrable personal contribution to Ireland’s strategy development and business results
  • 360º feedback from internal and external stakeholders
  • Implementing tactical and strategic actions following pricing/underwriting reviews to the wider business
  • Liaise with Group Reinsurance to ensure appropriate reinsurance is arranged for the Branch
  • Working with Technical Property Underwriter to develop and monitor an exposure management plan
  • Strong control environment evidenced through underwriting and internal audit
  • Delivery of relevant reports within the timelines required
  • Engagement with local and Group leaders
  • Bheard 3 star employee engagement results
  • Active performance management

Knowledge, Skills, and Experience:

  • Minimum ACII qualification, FCII preferred
  • Significant experience at a senior underwriting leadership level in commercial insurance
  • Significant experience in property & casualty underwriting
  • Affinity with and experience in our client’s sectors
  • Highly credible in the Ireland General Insurance market, with personal authority and credibility to establish a strong presence for our client
  • Outstanding commercial business acumen and judgment
  • Excellent analytical and numerical skills
  • Strategic thinker, with the ability to translate strategy into operational delivery
  • A highly impactful strategic communicator and negotiator, able to build effective relationships and influence key stakeholders, both internally and externally
  • Strong negotiation and trading skills
  • Experience of dealing with reinsurance is desirable
  • Strong leadership and engagement skills, with demonstrable ability to lead, direct, and coach both own direct reports and wider team
  • Track record of delivering cultural change, creating empowered and disciplined high-performing teams
  • Demonstrable predisposition and ability to work collaboratively with other Ireland functions and Group functions

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