York, United Kingdom
Internship Explorer
Internship Explorer
This is a chance to join our team and fast track your career and become a qualified insurance underwriter. The Trading Operations Underwriting teams are located regionally throughout the UK in our regional underwriting hubs of Colchester, Glasgow and York. Part of Hiscox UK’s central operations function, they are responsible for the volume underwriting of our referrals across new and existing business. The Trading Operations underwriters manage ~95% of policies written and ~45% of gross written premium in our open market UK retail division. The Trainee Underwriters work with the underwriting teams to deliver market leading service in line with the agreed sales strategy. Underwriters will be responsible for creating renewal terms, ensuring retention of those customers on the best possible terms and cross-selling new products to our existing customer base. The role will provide a breadth of development opportunities and exposure to our products, underwriting platform and underwriting strategy. We recognise that the most effective way to develop future underwriters is through a structured academy environment. Our approach delivers rapid progression to competence, consistent onboarding and training and a clear pathway toward achieving an underwriting licence. Through the Academy, underwriters gain hands-on exposure to live policies, insight into our wider UK business divisions and regular interaction with senior leaders across the UK retail business. The Underwriting Academy will consist of technical training syllabus and a live trading environment. The technical training will focus on Foundation of Underwriting, professional and specialist commercial products (PSC), appetite and how to underwrite them, beginning your CII (professional qualification) studies, broker trading skills and understanding our customers. The academy is designed to put the technical knowledge into practice with a clear route to achieving a level 1 Underwriting Licence by the end of the academy. Candidates who successfully complete academy will move into a Trainee Underwriting role within the Service Delivery teams. What You’ll be doing: · Underwriting new/existing business across our PSC products in line with our high standards · This will be across our broker distribution channels and commercial insurance products. · Working towards set targets each month including profitability, GWP, conversion, retention, cross-sell, referral rate reduction, quotes per day, turnaround times, workflow management, phone service and prospecting. · Developing your sales skills and appreciation of sales and underwriting strategy in collaboration with the wider teams and regions · Effectively negotiating with both internal and external parties and identified points of contact within brokers · Challenging non-standard underwriting decisions leveraging the expertise of product specialists and senior members of the team · Showing courage and innovation by spotting process improvements and how we can do things differently to improve the customer experience and drive profitable growth
