We have an exciting opportunity to join Beazley's successful M&A underwriting team in the US. The portfolio covers the majority of liabilities arising from a merger or acquisition, including warranty breaches, adverse tax consequences and contingent liability claims and we can underwrite and place in all 50 US states. We are looking for an experienced underwriter with strong technical understanding who enjoys business production and relationship building. Our preference would be for this role to be based out of our Atlanta office but we are open to alternative locations for the right candidate.
Beazley is a flexible and innovative employer offering a friendly, collaborative and inclusive work environment. We welcome applications from all backgrounds.
Job description and person specification
Job Title: Underwriter – M&A
Division: Cyber & Executive Risk (CyEx)
Key Relationships: Brokers, Underwriters, Claims staff, Coverholders, external Clients and Suppliers
Job Summary: To underwrite an M&A Liability account within the CyEx division and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.
- Develop and underwrite a profitable portfolio of M&A Liability business as part of the Cyber & Executive Risks team.
- Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
- Draft and negotiate contracts on behalf of employers.
- Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
- Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
- Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Transaction Liability account.
- Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and CyEx.
- Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.
- Develop a good working relationship with the claims managers on this class of business.
- Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
- Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
- Maintenance of good business relationships with brokers.
- Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
- Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
- Develop best practice and disseminate business and class knowledge within the M&A Liability and CyEx teams.
- Work with peers within M&A Liability and CyEx to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
- Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
- Production of presentations and marketing literature as required.
- Production of business plans/research documents for the M&A Liability account as required.
At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.
- Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Education and Qualifications
- Minimum graduate level education; legal qualification preferred
Skills and Abilities
- Proficient underwriting skills
- Accurate and numerate
- Computer skills – good working knowledge of MS Office, advanced Excel skills
- Strong analytical skills with attention to detail
- Able to communicate effectively with others, both verbally and in writing
- Ability to manage time, meet deadlines and prioritise
- Motivational skills
Knowledge and Experience
- General commercial and financial knowledge
- Extensive experience in insurance industry
- Extensive experience of M&A Liability underwriting
- Extensive legal experience and/or understanding
- Thorough knowledge of underwriting policy, philosophy and practice
- Advanced knowledge of underwriting processes and systems
- Client service experience
Aptitude and Disposition
- Result focused, self-motivated, flexible and enthusiastic
- Professional approach to interact successfully with managers/colleagues/external suppliers
- Team worker as well as able to work on own initiative
- Customer focused, with a strong ethic of service and fairness to the customer
- Achievement drive
- Analytical thinking
- Strategic thinking
- Service focus
- Team working
- Forward thinking
- Developing people
- Conceptual thinking