UNDERWRITER

Arc Legal Assistance is a specialist provider of legal expenses insurance and related services. Based in Colchester, we work with insurers, intermediaries, financial institutions and affinity groups, focusing upon delivering bespoke solutions providing 'best in market' legal advice and case handling.

Our business model for legal expenses insurance involves outsourcing legal advice and the legal conduct of claims to top quality law firms.

Purpose of the role

Evaluation of pricing proposals and making pricing recommendation to Head of Underwriting for sign-off. Assisting in the preparation of contract reviews and supporting in the relationship with underwriters for the provision of pricing and all general underwriting matters.

Main Tasks

Pricing:

  • Review Underwriting Pricing Proposals and TCF’s from Corporate Relations Managers/Executives (CRM/CRE’s) and making a recommendation for terms to Head of Underwriting
  • Liaising with CRM/CRE’s with recommended terms / request for further information to consider proposal
  • Providing guidance to CRM/CRE’s in preparing UW papers and assisting in the calculation of premium terms where pricing models not available
  • Referral of Underwriting Papers to Underwriters where they fall outside the terms of the binder
  • Where underwriting referral necessary, ensuring TeamSight Quotes Log is updated as status of quote develops / is signed off by Underwriters
  • Liaising with Underwriters in the provision of information to assist them in agreeing quotation proposals
  • Periodic Review of Underwriting Paper templates, TCF Scorecard to ensure suitable for use
  • Support in the development of TeamSight Quotes system with the integration of new business
  • Implementation of any changes in process agreed with Underwriters effecting pricing
  • Assisting the Head of Underwriting in proactively identifying any scope for improvements in current pricing process and implementing those changes.

Underwriter Relationship:

Supporting the Head of Underwriting and Chief Executive in our day to day relationship including:

  • Submission of referrals to Underwriters where they fall outside the terms of the binder
  • Ensuring Underwriting Referral Log is updated with any key developments
  • Engagement in negotiations with Underwriters to agree and vary terms of binding authorities
  • Submission of profit share requests and calculations to Underwriters as requested/prepared by CRM’s/CRE’s
  • Updating and maintaining Agent sub-delegation schedule and liaising with CRM’s/CRE’s to obtain required information
  • Attendance of Fortnightly Conference calls with Underwriters as required
  • Attendance of Quarterly Review Meeting with Underwriters
  • Preparing agenda and collation of material for Quarterly Review Meeting
  • Actioning requests for Management Information from Underwriters
  • Attendance of Monthly wording committee meetings to determine underwriting impact/exposure on policy wording changes
  • Liaising with / obtaining sign-off from Underwriters over variations to template policy wording where impact to underwriting exposure

Contract Reviews:

  • Assisting the Commercial Finance Manager in the production of regular and ad-hoc contract reviews across all business lines and undertaking full activity of this role in her absence/annual leave
  • Recommendation of terms to identify which contracts require repricing due to performance issues
  • Updating Trello with required renewal actions for CRM’s/CRE’s
  • Working with the Commercial Finance Manager in the development of our internal systems to achieve a fully automated renewal system including automated contract reviews and developing the renewal function in CMS 

General Tasks

  • Reviewing and updating flowchart in relation to all Pricing and Underwriting activities and updating Confluence
  • Ensuring all correspondence is clearly saved down creating a clear audit trail
  • Other duties and responsibilities as may be set in agreement with the Management/Directors
  • Ensuring all duties are carried out in accordance with company procedures and FCA regulations
  • Acting in the capacity of a Competent Advisor and complying with the conduct of business rules set by the regulator

Call us on 0344 770 9000