Management Trainee - London UW - Delegated Authority Business

About

With a startup spirit and 90,000+ curious and courageous minds, we have the expertise to go deep with the world’s biggest brands - and we have fun doing it. Now, we’re calling all you rule-breakers and risk-takers who see the world differently, and are bold enough to reinvent it. Come, transform with us.

Job Role:

• Setting up Binding Authority contract with Contractual rules and aggregate limits on DUA tool
• Completing a Bordereau Questionnaire by mapping the bordereaux with relevant reporting standards using the DUA schema questionnaire
• Review of errors/ breaches and perform data enrichments within the DUA system
• Reconciliation of the Premium and Claim amounts with the signing present on Syndicate and Commercial applications
• Logging of data quality issues into the query log.
• Working with the onshore team regarding a quality control review of issues as part of an onshore escalation process to underwriters 
• Bordereaux standardization and Financial Reconciliation for monthly BDX spreadsheets
• Exposure to London Market (Syndicate & Company) is a must
• Knowledge of P&C, Specialty, Reinsurance, Claims and Underwriting services
• Working as per the TAT and SLA agreed for the business
• Maintaining customer’s services and Quality standards by adhering to client procedures and process requirements

Responsibilities:

• Lloyds Market Insurance or UK Insurance Experience 
• Manage team of 10-15 staff as per given service level targets
• Knowledge of Binding Authority/ Delegated Authority Business for Coverholder
• Good Knowledge of MS Office, MRC, MRCE and Bordereaux.
• Provide technical support and bordereau processing assistance to other members of the team
• Experienced in a technical insurance role, such as account handling, wordings or underwriting, is essential 
• Be experienced in producing Binding Authority MRC Slips & Endorsements from scratch
• Excellent knowledge of binders process
•  Monitoring submissions of the monthly Bordereaux and chasing up any that are late
• Leading weekly/monthly/quarterly discussions on operations with client UW and company stakeholders.
• Understanding of risks faced by the function and the controls in place to manage and mitigate the risks 
• Ensuring clarity around priorities and goals for the entire functional area
• Ability to function effectively in a team environment exercising good judgment
• Working with senior management and other peers for strategy development and execution planning
• Root Cause Analysis on escalations received
• Very good problem-solving skills & attention to detail.
• Ability to accurately interpret and compile information from a variety of sources and systems

Minimum qualifications:

• Graduate (in any discipline)
• Relevant work experience for London Market Insurance
• Should have wing to wing knowledge of the Underwriting lifecycle 
• Must demonstrate and foster customer focus, teamwork, accountability, initiative and innovation.
• Fluent in English language- both written and oral
• Preferred Qualifications
• Any Graduate (Preferred - BSc/B Com)

Preferred qualifications:

• Insurance domain awareness
• Good knowledge of MS Office
• Preferred with certification on one of the streams i.e., CII London i.e., ALMI, FIT or Cert CII or equivalent or AINS, CPCU certification
• Knowledge of Bureau/Non-Bureau market
• Knowledge of Binder, Lineslip and Consortium Processing
• Exposure to Reinsurance Market and its types such as Prop and Non prop
• Exposure to Treaty and Fac Reinsurance