The Underwriting Assistant plays an important role in the success of the Cyber division, supporting the team in delivering the business plan, product development, underwriting of risk and overall management of the Cyber portfolio.

Job Description

Support underwriters with pre-underwriting, administration of slips, record keeping and reporting including but not limited to:

1. Support underwriters with pre-underwriting, administration of slips, record keeping and reporting including but not limited to:
2. Review new and renewal risks including attendance and write up and documentation of client underwriting meetings
3. Cyber application analysis, slip analysis, perform rating analyses and undertake premium monitoring
4. Maintain compliance with underwriting risk appetite, syndicate/company and regulatory procedures
5. Ensuring on-boarding and maintenance of coverholders is completed in accordance with Delegated Authority Centre of Excellence and Group Delegated Authority standards
6. Prepare reports and statistical information as required by the underwriters
7. Support new business opportunities through liaison with brokers and clients
8. Use market, industry and other sources to enhance awareness of technical factors and developments relevant to underwriting and the general Cyber security landscape
9. Support product development opportunities from idea through to inception
10. Assist in the continuous development and assessment of rating models
11. Assist in the monitoring of statistics and claims and report accordingly
12. Work closely with the Cyber Centre of Excellence on monitoring trends in Cyber risk

Regulatory Responsibilities

1. Assist with the completion of all required annual product review assessments to agreed timescales with approvals obtained and recorded
2. Follow all Chaucer Group Product Governance processes in accordance with Group Underwriting Principles and Controls
3. Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Provider

Skills and Competencies

1. Demonstrates a professional approach aligned with Chaucer’s values
2. Knowledge of the Lloyd’s Market
3. Awareness of cyber risks, common threats (e.g. ransomware, Phishing,) and basic IT terminology
4. Ability to review and interpret data, spot trends and support risk assessment
5. Excellent written and verbal communication skills
6. High level of accuracy and attention to detail
7. Collaborative team player
8. Committed to delivering excellent customer service, with prompt and professional responses to internal and external queries
9. Adaptability & willingness to learn
10. Capable of prioritising tasks, managing multiple responsibilities, and using time effectively

Education

1. 3 ‘A’ Levels or equivalent
2. Ongoing CII learning & certification is desirable

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.