Senior Underwriting Performance Analyst

Job Details

Contact Info

Contact Person: Tony Massenhove Email: tony@massenhove.co.uk Telephone: 01621 786 220
Job Title: Senior Underwriting Performance Analyst

Job Description

Department: Underwriting Performance

An ambitious leading Lloyd’s Insurer is looking for an individual to work within the small Underwriting Performance team to help develop and actively apply underwriting performance framework.

Reporting to the Head of Underwriting Management, the person will be an important member of the broader Underwriting Management department and would be involved with many aspects of the business.

This is an important and exciting time for the insurance industry and for the company in particular. This new role is to improve delivery of existing performance management functions and help with the development and enhancement of further performance management capabilities.

Summary of Underwriting Performance:

The underwriting performance function can be divided into two main areas and involves:

Performance Management:

Monitoring and analysis of performance against historic performance, business plan, underwriting strategy and external benchmarks

Use of all available internal data and external industry information to conduct effective performance analysis

Identification of key trends, patterns and outliers and identifying possible drivers of change

Investigation of individual accounts and analysis of overall business portfolio

Quarterly and ad hoc underwriting performance analysis and reporting

Work with Underwriters, Heads of Underwriting Divisions and Actuaries to understand, explain changes and implement action plans as necessary

Challenge and work with Heads of Division on performance matters

Work with active underwriter to address poor performing classes

Assess merits of alternative portfolio mixes and make recommendations for change to underwriting or reinsurance as necessary

Contribute to decisions with respect to the allocation of aggregate and loss caps across classes and agreement of actions in response to breach of appetite

Capital, Risk Appetite and Business Planning:

Carry out annual and long term business planning work

Sensitivity and scenario analysis of business plans and performance

Determine capital allocation between underwriting classes

Set underwriting risk appetite framework

Provide input to review of underwriting and reinsurance strategies

Assess effectiveness of reinsurance structure for delivery of underwriting plan

Provide necessary input to actuarial reserving, pricing and capital model review process

Description of Role:

As part of the above function, specific responsibilities will include:

Monitor and analyse performance against historic performance, business plan, underwriting strategy and external benchmarks

Identify trends, patterns and outliers in data and possible drivers of change

Identify and investigate poor performing classes or segments

Succinct presentation of results and conclusions

Conduct investigation of individual accounts and analysis of overall business portfolio

Assessment of individual business classes, including detailed numeric analysis and discussion with underwriters and actuaries

Assess merits of alternative portfolio mixes and make recommendations for change to underwriting or reinsurance as necessary

Carry out sensitivity and scenario analysis of business plans and performance

Carry out annual and long term business planning work

Management of the process to deliver regular and timely underwriting performance analysis and reporting to the business

Facilitate business planning reviews and regular underwriting/portfolio reviews

Provide necessary input to actuarial reserving, pricing and capital model review process

Work with underwriters and actuarial to agree business class metrics and distributions for use in internal capital model

Identify, obtain and make use of necessary data and information to enable effective performance analysis

external market and industry data / information from all available sources

internal performance information

Process, analyse and report on quarterly Lloyd’s and LMA information in conjunction with quarterly internal data

Close liaison with those providers responsible for the delivery of data, both internal and external

interact with Lloyd’s over all performance information and statistics

In addition, the person would need to be flexible enough to respond to ad hoc requests within the department and assist the rest of the underwriting management team as required.

Personal Profile:

The role requires the practical application of a broad range of knowledge, skills and experience.

Much of the work involves informed, objective analysis of a variety of classes of insurance business. The role will very data-centric, requiring an inquisitive and analytical approach coupled with flexibility, enthusiasm, commitment and professionalism.

The key purpose of the role is to analyse numbers and information and discuss thoughts and conclusions with the rest of the team. Central to ongoing success will be the ability to discuss results with underwriters, incorporate feedback into conclusions and develop action plans as necessary.

This person is likely to be:

already fulfilling this role for an insurer or Lloyd’s managing agent

a business analyst with sound understanding of insurance sector dynamics, including Lloyd’s syndicates

an experienced, analytical underwriter with a broad appreciation of key performance metrics

Key experience and skills:

Insurance and reinsurance experience gained, possibly, in an underwriting or business analyst environment.

Collation, analysis and interpretation of data, information and commentary from a range of sources.

Ability to produce insightful output of data / information with a strong emphasis on clarity and accuracy.

Strong presentation skills – drafting reports and presentations.

Strong academic mathematically-based qualifications as well as, ideally, ACII.

Highly organised with consistently high attention to detail.

Confident and self-motivated – good initiative and work ethic.

Ability to plan, organise, communicate and influence

Numerate, analytical and logical

Articulate, personable and able to interact at all levels within the organisation.

Enthusiastic and rounded individual.

Advanced knowledge of all Microsoft Office software essential.

Experience of Palisade @Risk software beneficial.

Details

Job Ref: MASS 957 Hours: Full Time Location: London Working Term: Permanent Position Salary: £100,000 + Benefits

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