Job Description
Job Title: Underwriter – Cyber Risks, Asia Pacific Division: Cyber Risks Key Relationships: Brokers, underwriters, claims, wordings, insureds, external clients and suppliers Job Summary: To underwrite an Cyber Risks account within the International Cyber Risks team. 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
Key Responsibilities: Underwriting Develop and underwrite a profitable portfolio of Cyber Risks business as part of the Cyber Risks team in Singapore with a focus on North Asia markets 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
Manage innovation and development of non-insurance service offerings to insureds and others
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 Cyber Risks Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Cyber Risks Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley’s international subsidiaries or Beazley's internal MGAs
Develop a good working relationship with the claims managers on this class of business
Client Management 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
Building, identifying opportunities to deepen and maintaining good business relationships with brokers across the Asia Pacific region Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients
General 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 Cyber Risks Work with peers within Cyber Risks 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 Cyber Risks account as required
It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers
We also expect Beazley employees to: Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct
Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
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
Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas
This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
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
Personal Specification: Skills & Abilities Proficient underwriting skills Accurate and numerate 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 Fluency in English – written and spoken - ideally with written and spoken ability in Japanese or Korean
Knowledge & Experience General commercial and financial knowledge Experience in insurance industry in particularly North Asia market, including Japan and Korea
Experience of Cyber underwriting or broking strongly preferred - general Undewriting experience consdidered
Thorough knowledge of underwriting policy, philosophy and practice Advanced knowledge of underwriting processes and systems Client service experience Aptitude & 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 Competencies Achievement drive Analytical thinking Strategic thinking Service focus Team working Conceptual thinking Forward thinking