Technical Underwriter

Technical Underwriter

Location:
Haywards Heath
Salary:
Competitive
Department:
Underwriting
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We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
 

We currently have an exciting opportunity for a Senior Technical Underwriter to join our Underwriting team in Haywards Heath, West Sussex or Salford Quays, Manchester.
 
The Underwriting & Assurance Team are tasked with using analytics and insight to drive the ongoing optimization of the FCG underwriting footprint, monitoring of underwriting and pricing performance to support the delivery of profit and volume targets for the business, as well as owning FCG’s Underwriting Control Framework and ensuring regulatory compliance for the FCG Pricing and UW functions.
 
You'll be responsible for using industry knowledge, competitor insight, and relevant vehicle expertise to shape and monitor FCG’s performance from an Underwriting Footprint perspective. Drawing on analytics provided from within the team, you'll provide input and share ownership of internal department sign off on all Underwriting Footprint proposals and IT led projects.

You'll build, own and maintain the Underwriting Control Framework including Policy Wording and other Underwriting documentation ensuring regulatory compliance for the FCG Pricing and Underwriting functions.
 
 

Job responsibilities:

  • Evaluate and document current UW risk selection rules across all stages of quote and policy lifecycle, creating a version-controlled log of rules which is both technical and relatable.  Produce programme of testing to ensure document is maintained as an accurate assessment of FCG’s Underwriting Footprint

  • Provide technical underwriting expertise to the analytical/project work of the UW & Assurance Team and wider Pricing Department. Provide pre-committee internal sign off where required, ensuring regulatory compliance, TCF, and traditional UW principles are considered and where appropriate enforced – particularly in relation to:

- Relaxation of, or introduction of, UW criteria - including eligibility for NCD protection cover

- Use of data; specifically potentially sensitive data for Pricing or UW purposes.

- Impact on customers and any regulatory impact or reputational damage this may cause

- Support for the development and ongoing management of the FCG Telematics Proposition

  • Develop and maintain detailed knowledge of emerging trends/technologies/available data within the personal lines Motor insurance market, providing consult and input into project work of the team and wider Pricing and UW department when required; including but not limited to:

- Hybrid and Electric Vehicles and associated technologies

- Autonomous vehicles and ADAS technologies.

- Emerging/periodic trends such as catalytic converter theft

- Use of data from other UW adjacent areas – eg counter fraud specific data sources such as the CIFAS database for UW/Pricing.

  • Take ownership of FCG’s understanding and interpretation of upcoming, potential, and historic regulatory changes impacting the UW of the personal lines motor insurance market. Use knowledge to provide key insight and critique internally on topics including but not limited to

- Insurance market specific legislation referencing Pricing/UW – eg FCA market study

- Broader Insurance legislation – eg IDD, Consumer Insurance Act

- Broader legislation impacting insurance – EU/UK equalities legislation. GDPR,

  • Own FCG’s policy wordings and other relevant underwriting documentation ensuring changes are proposed and deployed in accordance with requirements from within the Underwriting and Assurance team or as part of wider topics such as regulatory change

  • Develop and maintain relevant internal relationships pertaining to the above – eg Counter Fraud, Claims etc

  • Develop and maintain relevant relationships with relevant third parties pertaining to the above

  • Take a leading role in relationship management for key third parties such as Thatcham

  • Build and maintain relationships with stakeholders across the business, providing consult, and where required, input to projects requiring Underwriting representation.

  • Review and Update FCGs Underwriting control framework for Pricing and UW changes.

 

Experience and Knowledge:

  • Minimum 2:1 degree in a relevant field

  • Demonstratable experience working in a relevant Technical UW or Product Management role for a Motor Personal Lines Insurer

 

Technical:

  • In depth knowledge of the UK Personal Lines Motor Insurance Market

  • In depth knowledge of motor insurance products and the motor insurance industry

  • Strong foundational knowledge in general insurance pricing techniques and data sources used.

  • Broad knowledge and awareness of the regulatory environment pertaining to Pricing and UW for UK personal lines insurance market

  • Strong commercial acumen

Skills/Behaviours:

Underlying Skills of:

  • Strong mathematical skills

  • Strong problem-solving skills, with the ability to adopt a logical approach to solving problems

  • Strong IT skills (including Excel and ideally programming skills)

  • Strong ability to interpret technical documents

  • Excellent communication skills, both verbal and written to a variety of stakeholders

  • Excellent time management and organisational skills

Proven ability to produce outstanding results based on own initiative

Demonstrable Behaviours of:

  • Logical thinker with solid reasoning ability

  • Commercially focused

  • Emphasis on attention to detail and accuracy

  • Quick learner

  • Self-motivated and enthusiastic

  • An organised and pro-active approach

Aligned to the values of Ambition; Agility; Ownership; Collaboration

 
What can we do for you?

 
We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…

  • Fantastic training and development opportunities

  • Employee benefit packages to suit your lifestyle

  • Flexible working

  • YOUday – we give you an extra day off to celebrate a special day

  • The opportunity to take a paid day off each year to do charity work

  • A health cash plan

  • Help with travel expenses

  • The opportunity to buy additional holiday

  • Company pension scheme

  • Group life assurance

  • Enhanced maternity and paternity pay

  • Professional subscription fees paid


Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.
 
If you’d like to work for an award-winning employer in a fast-paced environment, apply now!

Want to know what it’s really like to work at First Central? Take a look at our Glassdoor reviews.

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86% of people would recommend a friend to work at First Central

Based on 150 Glassdoor reviews (October 2021)

Benefits

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Flexible working

We support colleagues who wish to work flexibly whilst meeting the needs of the business.

YOUday

We give you an extra day off to celebrate a special day.

Holiday Extra

Not only do you get a generous holiday entitlement, you can also buy additional leave.

Volunteering

Get a day off each year to take part in volunteering activities.

Health cash plan

Claim money back on your healthcare costs, such as dental check-ups and eye tests.

Season ticket loan

We provide interest-free loans to cover the cost of season tickets for rail, bus or car parking.