Marsh Portfolio Solutions (MPS) is a dynamic client-centric practice within Marsh UK that places and manages a range of innovative portfolio placement solutions on behalf of Marsh Specialty Practices. MPS comprises of 120 dedicated professionals who provide a range of intermediary services to insurer clients including sophisticated management information and innovative placement structures.
We are seeking an Underwriting Manager to join MPS, leading a team within our new cross class facility. This role will take you in a different direction in comparison to a more “traditional” underwriting role in insurance. Leading a team of Account Managers, you will ensure that our binding authority is managed in line with DUA procedures, regulatory requirements and best practice whilst managing internal stakeholder relationships across Marsh Practices, engaging with brokers and senior stakeholders to support the placement of risks into the facility. This role will suit an experienced underwriter who is confident and articulate who has a strong level of technical understanding across a broad range of products, with the ability to lead and support a team, has great attention to detail and the ability to think on their feet, as well as working well under pressure in a flexible role.
What can you expect?
Oversee and work alongside identified product specialist within team to engage with Marsh Practices to identify issues and improvements, to support the usage of fast track and develop further understanding and dealing with enquiries.
Provide leadership, guidance and support to the team.
Manage the Underwriting Framework amendments and link in with template team to ensure updates on broker templates align with u/w framework. Ensure updates are shared with participating markets and approved by Leader.
Maintain knowledge of current Cat limits and ensuring changes and updates are communicated to Aggregates team to allow for RMS engagement to be up to date.
What you will be rewarded with?
We offer and embrace a hybrid working model that nurtures a collaborative working environment in the office 3 days per week allowing 2 days per week to be spent working on a remote basis.
Competitive Benefits Package including: 27 days annual leave, excellent pension contributions, private medical cover, life assurance, income protection, employee assistance program, plus a range of flexible benefits including the option to buy or sell up to 5 days holiday per year, cycle to work, dental insurance, health assessments plus many more.
Generous Family Leave including: 6 months paid maternity leave, 4 months paid paternity leave, 6 months paid adoption leave plus shared parental leave options. To help ease the transition when you return to work you will be able to work 8 weeks at 80% of your normal work pattern and receive 100% of your normal salary.
We will rely on you to:
Undertake the delegated underwriting process for a global cross-class DUA Facility.
Ensure, through the team, that individual risks are bound promptly and in accordance with the Delegated Underwriting Authority and consistently review efficiencies.
Ensure full compliance with the Delegated Authority from insurers.
Provide leadership, guidance and training to Account Managers (junior underwriters) and Work alongside senior stakeholders to support Facility training throughout Marsh.
Identify issues and improvements, to support the usage of the facility and develop further understanding and dealing with enquiries.
Responsible for understanding market changes with respects to changes in clauses accepted as well as exclusion languages and organise communication with support from Legal and Compliance.
Support Transaction Team in the Placement of Property Quota Share eligible risks under the current DUA, including peer review of risks in the form of a SPOEC (Second Pair of Eyes Check)
Build relationships with the senior stakeholders across the different business areas within Marsh as well as the panel of Facility Insurers, including attending regular meetings.
Tracking and achieving all KPl's and SLA's for the contractual obligations
To have an awareness and understanding of the regulatory framework in which the Company and MPS operates, and the regulatory requirements and expectations relevant to officer.
What you need to have:
Proven experience of working within the insurance market from an Underwriting, Broking or Claims background.
Comprehensive understanding of London insurance market dynamics and core processes.
Technical insurance knowledge of one or more classes of Insurance (Wholesale/Retail) in particular policy wordings
Support Management of and contract amendments in line with the Governance Framework
Ability to build relationships internally at all levels of senior management and peers within other departments is essential.
Previous experience managing a team.
Highly organised and methodical in approach
Ability to work under pressure, often to tight deadlines.
What makes you stand out:
Experience using the Placing Platform Limited (PPL) or Whitespace when placing risks.
Experience in handling delegated authority business is beneficial.
About Marsh
Marsh is the world’s leading insurance broker and risk adviser. With more than 45,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue of over $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. For more information, visit marshmclennan.com, follow us on LinkedIn and Twitter.
Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, civil partnership status, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin colour, or any other characteristic protected by applicable law. We are an equal opportunities employer. We are committed to providing reasonable adjustments in accordance with applicable law to any candidate with a disability to allow them to fully participate in the recruitment process. If you have a disability that may require reasonable adjustments, please contact us at TAUK@mmc.com.
Marsh McLennan is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh McLennan colleagues are expected to be in their local based teams will identify at least one “anchor day” per week on which their full team will be together in person. office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.
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