Underwriting Manager

Job Introduction

Development Underwriting Manager 

Salary - up to £59,000 (dependent on experience)

Full Time - 35 hours per week

Hybrid - at least once a month in the London or Ashford Office 

Here at Saga, we are seeking a Development Underwriting Manager. This role is responsible for the management of AICL’s Motor and Home Product Underwriting rules with a focus on developing the AICL footprint through effective analysis and underwriting risk control to ensure technical results meet or exceed business plan performance criteria.

Aiding in the control of AICL’s Loss Ratio performance through careful monitoring of its Underwriting rules and implementing targeted amends where required to ensure AICL meets it Target Loss Ratio (TLR). Monitor and report on market trends and movements from across the insurance industry and keep up to date with market news and regulatory movements with a focus on the impact to AICL and Saga as a whole.

A key member of the weekly AICL trading review meeting, also working closely with the Head of Underwriting, pricing, fraud, risk, and claims teams.

Role Responsibility

• Take the lead in defining our Motor and Home underwriting footprint, ensuring close alignment with pricing, claims, fraud and risk teams
• Monitor and understand how our risk mix is changing and assessing the pricing and underwriting impacts
• Monitor AICL’s loss ratio through analysis and changes to underwriting rules to ensure the loss ratio remains within target
• Monitor external market conditions and competitor underwriting strategies. Assess and articulate opportunities and risks to the business.  
• Work with pricing, claims, fraud and risk teams to develop and improve underwriting processes to detect and reduce fraudulent business at application stage.
• Work with the pricing, claims, fraud and risk teams to develop the use of external data to assist in improving risk selection.
• Work with Operational and Technical Underwriters to improve customer journeys and reduce reliance on referrals.
• Support key projects through to conclusion, working with other departments as required.
• Ensure robust regulatory governance practices are adhered to across AICL, in particular Consumer Duty, fair value, and consideration of vulnerable customers.
• Ensure that a robust risk management culture and appropriate control processes are understood and actively maintained
• Follow our Business Code of Conduct and always act with integrity and due diligence

The Ideal Candidate

• Experience of general insurance account management
• Awareness and understanding of SQL Code (or equivalent), risk pricing and modelling techniques and software Radar, MS Office, (or equivalent)
• Expert knowledge of the various distribution channels and their separate customer and risk profiles
• Ability to identify and anticipate potential business risks/opportunities using strong market awareness and internal knowledge
• Detailed knowledge of the UK insurance market
• Good understanding of the regulatory and legal framework which the market operates
• Strong numerical and statistical capabilities
• Ability to influence using sound judgement and technical knowledge
• Ability to communicate effectively, both verbally and in writing, at all levels up to Executive level
• Self-motivation and organisational skills.
• Trading mentality
• Commercially aware

Package Description

Everyday our colleagues deliver exceptional experiences to our customers. We believe exceptional work deserves even more exceptional rewards, that's why we have put together an amazing benefits package for all colleagues.

We offer total flexibility over where you work you choose a place that you feel most comfortable and productive, either from home or in one of our hubs in London, Ashford or Sandwich.

BENEFITS AVAILABLE TO ALL COLLEAGUES:

• Our working week is 35 hours per week, these can be worked flexibly to suit your working style
• 25 days holiday + bank holidays
• Option to purchase additional leave up to 5 extra days
• Pension scheme matched up to 10%
• Life assurance policy on joining us
• Wellbeing programme
• Colleague discounts including family discounts on cruises and holidays
• Range of reductions and offers from leading retailers, travel groups and entertainment companies
• Enhanced maternity and paternity leave
• Grandparents leave
• Company performance related annual bonus - Up to 5%
• Income protection
• Access to Saga Academy, our bespoke learning platform

About the Company

Over the past 70 years we have become the UK's specialist provider of products and services to people aged over 50 in the UK. The Saga brand has become one of the most recognised and trusted brands amongst UK consumers in this demographic, recognised for its high quality products and exceptional standards of service. These include cruises and holidays, insurance, personal finance and the Saga Magazine.

At Saga we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement. We value diversity not just because it is the right thing to do, but because diverse teams perform better.

We’re passionate about diversity, equity, and inclusion. Championing diversity is important to us, and diverse teams really are the best ones. We’re dedicated to creating a culture where every colleague feels like they belong. So that at Saga, more than anywhere else, you can be your best, be yourself and make a difference.

Fair consideration is given to all applicants, including those with disabilities and those over who are over the age of 50. As champions of age inclusivity and signatories of the Age-Friendly Employer Pledge, we are proud of our multigenerational teams. We are also an official Disability Confident Committed employer and ensure that our recruitment process is inclusive and accessible and we will make reasonable adjustments as required. For more information on our DEI policies please visit our Saga Careers page.

​Saga does not accept agency CVs unless specifically engaged on the role by the Talent Acquisition Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga will not be responsible for any fees related to CVs received in this unsolicited manner.

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Saga Group