Beazley
Underwriter - Crime & Fidelity
Division: Specialty Risk
Key Relationships: Brokers, underwriters, claims, wordings, insureds, external clients and suppliers
FLSA: Exempt
Job Summary: To underwrite a US Executive Risk account within Specialty Risks 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
- Develop and underwrite a profitable portfolio of US Executive Risk business as part of Specialty Risks.
- 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 US Executive Risk.
- Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks.
- Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley’s subsidiaries or 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.
- 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.
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 US Executive Risk and Specialty Risks.
- Work with peers within the US Executive Risk and Specialty 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 US Executive Risk account as required.
Employee Expectations
- 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 People & Sustainability 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 People & Sustainability 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
Essential Criteria
- 3‑5 years of direct underwriting experience in Crime or Crime & Fidelity products, with this line representing a significant portion of the candidate’s portfolio.
- Proven experience in underwriting US Executive Risk accounts, including risk assessment, pricing, and portfolio management within a regulated insurance environment.
- Strong analytical and financial skills, advanced knowledge of underwriting policy and practice, and proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas) with excellent communication skills for broker and client negotiations.
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
Knowledge & Experience
- General commercial and financial knowledge
- Experience in insurance industry
- Experience of US Executive Risk underwriting or broking
- 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
Rewards
- The opportunity to connect and build long‑lasting professional relationships while advancing your career with a growing, dynamic organization
- Attractive base compensation and discretionary performance‑related bonus
- Competitively priced medical, dental and vision insurance
- Company paid life, and short‑ and long‑term disability insurance
- 401(k) plan with 5% company match and immediate vesting
- 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
- Up to $700 reimbursement for home office setup
- Free in‑office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
- Up to 26 weeks of fully paid parental leave
- Up to 2.5 days paid annually for volunteering at a charity of your choice
- Flexible working policy, trusting our employees to do what works best for them and their teams
Salary for this role will be tailored to the successful individual’s location and experience. The expected compensation range for this position is $75,000 - $120,000 per year plus discretionary annual bonus.
Don’t meet all the requirements? At Beazley we’re committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway.
Seniority level
- Not Applicable
Employment type
- Full‑time
Job function
- Finance and Sales
Industries
- Insurance