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Underwriting and Product Development Lead - Admiral Pioneer

Cardiff

  1. Full time

Closing date

10/03/2021

About the job

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About Admiral Pioneer

Admiral Pioneer is a new entity within the Admiral Group with the objective of seeding, launching, and scaling new businesses. We are focused on three business domains:

  • Mobility
  • Future of Work
  • Live to 101

We aim to build multiple businesses in each domain, all anchored around meeting customer needs in new and better ways. We aren’t an incubator, we are building a dynamic and energizing environment where we will provide all the excitement and freedom of a start-up, with the support and stability of an established organization.

We are now looking for a driven and experienced Underwriting & Product Development Lead to join our team that is building a new proposition for small businesses (primarily the self-employed and micro businesses with 0-9 employees).

About the Role

The underwriting lead will play an instrumental role in designing and implementing the underwriting strategy and product development for our proposition, which will comprise a range of products to protect small businesses (e.g. public liability, professional indemnity, employers liability, tools & materials cover, haulage, health, business interruption).

The ideal candidate will be excited by the idea of working in a fast-paced environment to build a new business, and will combine hands-on underwriting and policy wording experience with a passion for creating products that customers understand and that meets customers’ underlying needs.

Your Responsibilities

  • Create, analyse and refine our product structures and underwriting across a range of small business insurance products
  • Understand what matters to our customers and treat them fairly
  • Make recommendations to change and improve the product risk profile, underwriting footprint, underwriting rules and insurance policy wording
  • Communicate results and generate ideas for how underwriting can become a strategic lever for the business – for example by monitoring adherence to best underwriting practice, highlighting threats to the loss ratio and opportunities to increase revenue and profit
  • Manage relationships with internal and external capacity providers to secure appropriate capacity arrangements for a range of small business products
  • Monitor external market conditions and competitor underwriting strategies
  • Contribute to pricing strategy, working closely with pricing lead and making recommendations where appropriate
  • Develop strategies and policies to counter financial crime keeping up to date with industry initiatives and regulatory and legal changes
  • Share your expertise and insurance knowledge to help shape the underwriting and pricing strategy for the new insurance products
  • Provide technical advice and input into underwriting non-standard risks, as well as a technical support to Claims
  • Steer insurance policy wording and document development for the new products ensuring it is current, is technically sound, and is easily understood by our customers
  • Develop and implement an appropriate underwriting criteria supported by written procedures and strong internal controls for monitoring adherence to the framework created
  • Research and track competitor activity in the market, and identify new opportunities to generate profitable growth whilst maintaining an excellent customer journey

Qualifications, Skills and Experience

  • A degree, 2:1 (or equivalent) or equivalent experience
  • At least 5 years' experience in an underwriting role, with substantial experience in UK SME insurance
  • Team player with proven ability to collaborate and build relationships
  • Excellent interpersonal and communication skills (both written and verbal)

Additional Information

Due to Covid, the whole Admiral Pioneer team is working remotely. We will provide you with everything you need to work comfortably from home.

We expect you to be working remotely for the foreseeable future, however, once it is safe to return to the office, we will have days when the whole team comes together to collaborate. You can decide if you want to come to the office between 2-5 days per week.

Salary, Benefits, and Work-Life Balance

We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package. Do not hesitate to contact the Recruitment Officer looking after this position if you would like to discuss this further.

At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it is one of the reasons we're voted no. 1 in the 2019 Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.

About Admiral

Admiral Group is a leading FTSE100 Financial Services company with a presence in eight countries.

The company was set up in 1993 as a car insurance specialist, but since then the Group has expanded in other countries and other insurance verticals such as household and travel insurance, in loans, price comparison platforms, and has developed innovative products.

The Group has 7 million customers worldwide and employs over 11,000 people across its operations. Admiral is a growth story with an enviable track record of strong financial performances, ROE consistently over 50%, a turnover of £3.5 bn, and a profit before tax of £520 m in 2019. Admiral’s philosophy is that ‘people who like what they do, do it better’ and Admiral is proud to offer an open culture where achievement is rewarded and recognised and where coming to work is exciting every day. In 2019, Admiral received a special award from ‘Best Companies to Work For’ as the only company to feature within their rankings since they began 20 years ago: a true testament to the Group’s culture.

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Our Benefits

As one of our four pillars to our culture, Reward and Recognition is extremely important. We believe that happy staff make happy customers, so we have a huge range of great benefits to make sure everybody has something to smile about! Here are a few of our more popular ones.

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Schemes

Flexible
Working

Local
Discounts  

Travel Season
Ticket loans

Groups
& Societies 

Development 
Opportunities

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