Cyber Underwriter

This job is with Munich Re, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Please see our website for more information.

Cyber Underwriter

We are currently looking for a Cyber Underwriter to be based in London on a full-time basis, reporting into the CUO- Cyber.

You to ensure the prudent underwriting of quality business in line with the Syndicate’s business plan. The goal is to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.

Responsibilities:

• To assist delivering the agreed business plan;
• Underwrite cyber and technology risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan;
• Conduct and develop effective relationships within Lloyd’s, both with peers and with Brokers, with a view to securing new business that falls within the Munich Re Specialty – Global markets/ Munich Re Syndicate Ltd portfolio, specifically cyber and technology risks
• Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority;
• Make written records of all conversations with customers, both internal and external, in accordance with the firm’s procedures manual;
• Review and administer existing contracts and make amendments in line with the firm’s underwriting philosophy;
• Monitor recording of risk entry and amend where appropriate;
• Review daily claims report;
• Be aware of and take ownership of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner. In this context risk is the potential for loss or failure to meet business objectives as a consequence of internal or external events;
• Ensure Syndicate process for contract certainty and PBQA is followed and documented;
• Attend relevant meetings in the company on team/business performance to maintain and develop understanding of own team’s performance and a good overview of company performance;
• Draw on your knowledge of, and relationships within, the Australia and New Zealand Cyber markets to help formulate and execute a regionally-specific development strategy for the Australasia region.

Knowledge and Skills

• Intermediate (Level 2) knowledge and understanding of:

Underwriting Principles;Legal Principles;FCA and Lloyd’s rules and regulations including contract certainty issues;All company specific procedures that relate to own role

• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm;
• Develop and maintain market and risk awareness and willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious

#LI-DNI

Location: London, GB

Posted Date: 9/19/2024