Markel
Underwriter
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Who we are
Business Unit overview
Professional & Financial Risks (PFR) focus on international and UK-domiciled business. The team is made up of five business divisions, Professional Indemnity, Management Liability, Warranty & Indemnity, Financial Institutions and Cyber Liability. We provide excellent service via our knowledgable underwriters who are available both at Lloyd's and in our offices. We have a flexible and innovative approach to underwriting that ensures that we can provide the product required by our customers.
The Warranty & Indemnity (W&I) team is currently comprised of 9 individuals: Director - Head of W&I, three Senior Underwriters, an Underwriter, three Assistant Underwriters and a Graduate Assistant Underwriter. It is a relatively new team that was set up in Q4 2022 to write open market W&I risks. PFR has supported a broad portfolio of coverholders in the transactional liability space since 2014, which has performed well and informed a long-term strategy to underwrite directly alongside the delegated book. The team focuses on underwriting SME risks (deal sizes of c. GBP/USD/EUR 3m to 300m) in the UK and Europe, using the data and insights from its coverholder portfolio and the resources of a global, multi-line specialist insurer.
Part of Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.
What you’ll be doing
Contributing to the W&I underwriting strategy to establish a market leading team within the W&I marketplace. Review and underwrite new risks using a technical rating model and coverage guidelines that we have developed. Harvest insights from the sizeable data pool we have access to through the 10+ years of supporting coverholders to derive claims trends and inform underwriting approach. Build and develop positive relationships with new and existing brokers, other distribution partners and private equity / acquisitive corporate clients, and establish yourself as a market leader in your skill-set. Support the analysis of overall portfolio data and act upon those findings – i.e., iterate on the rating model and coverage guidelines as the book matures to expand margin and drive profitable growth over the market cycle. Develop skills in negotiating policy terms and conditions. Help to build and maintain strong working relationships within Markel.
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Key Skills
Technical Underwriting
- Experience within your specialist skill-set relevant for W&I underwriting or direct experience underwriting W&I risks.
- Strong understanding of the risks inherent in underwriting W&I from the perspective of your specialist skill-set.
- Develop an understanding of the principles of the technical rating engine and monitor portfolio rate adequacy according to Markel’s underwriting principles and in line with authority limits.
- Use analytical skills to improve Markel’s underwriting capabilities (e.g. loss performance and underwriting efficiency).
- Work with others to navigate the complexities of drafting / amending a wording / clause in particular with respect to your specialist skill-set.
Business Development
- Help to develop, own and enhance the W&I portfolio, assessing risk-reward for targeting certain countries (within the UK and Europe) and sectors conducting M&A.
- Help to maintain and update a broker / customer engagement plan for a portfolio of brokers and use this to drive quote requests and conversion.
General Skills
- Come up with new points of view and innovative ideas to support the achievement of goals.
- Be computer literate and have the ability to develop a full understanding and capability of in-house and MS systems.
What’s in it for you
A great starting salary plus annual bonus & strong benefits package…
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- Up to 16% company pension scheme,
- Private medical and dental cover, Menopause plan, emergency care benefit (children/Pets/dependants)
- Income protection, Life assurance, electric car scheme, travel insurance
- 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave
As well as other great benefits on offer there are countless opportunities to learn new skills and develop in your career!
Are you ready to play your part?
If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward, reach their full potential and seize opportunities. You’ll find your fit amongst our diverse global community of optimists and problem-solvers. We’re always pushing each other to think further because we believe that when we strive for better and realise our potential, we can help others reach theirs.
Join us and play your part in something special!
Choose ‘Apply Now’ to fill out our short application, so that we can find out more about you.
At Markel we are all about the people, celebrating the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also happy to consider candidates who are looking for flexible working patterns.
We will ensure that individuals are provided with any reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful. Please contact us via email at rec@markel.com or call us at 0161 507 5827 to request any accommodations or adjustments that may be needed, including alternative formats of documents or information on how to apply offline.
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