Job title: Underwriter and Product Specialist – Telemedicine (Virtual Care)
Company: Beazley
Job description: We are a flexible and innovative employer offering a friendly, collaborative, diverse and inclusive work environment. We actively encourage and expect applications from all backgrounds. We empower people to choose where to work given the work they need to do. We empower people to choose where to work given the work they need to do while encouraging in office collaboration and learning, – you decide what works best for you and your team. Beazley offers a competitive salary and bonus with a strong benefits package, including pension, commuting reimbursement, free in-office lunch, excellent parental leave, and financial, physical and mental wellbeing contributions.
Job description and person specification
Job Title: Product Specialist – Virtual Care
Division: Specialty Risks
Reports To: As per Beazley’s organisation chart
Key Relationships: Brokers, Underwriters, Claims staff, Coverholders, external Clients and Suppliers
Job Summary: To underwrite a Miscellaneous Medical & Life Sciences account with a particular focus on Virtual Care or Telemedicine as required within the Healthcare Team and provide counsel and advice on Underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.
FLSA: Exempt
Key Responsibilities:
Product Specialist
§ Develop and maintain the Healthcare Telemedicine strategy to ensure optimum profitability, premium growth, and market share.
§ Liaise with other Beazley Focus Groups offering Telemedicine coverage to foster a consistent underwriting approach across the company.
§ Oversee the development of Healthcare Telemedicine products, underwriting guidelines and rating techniques.
§ Liaise with the Healthcare claims team to ensure claims frequency and severity is effectively monitored in the pursuit of underwriting profitability.
§ Marshall and identify the necessary internal and external resources to anticipate and monitor developments that may alter the perception of Telemedicine risk.
§ Liaise with the Broker Relations and Marketing team to promote the Beazley Healthcare’s Telemedicine capability to our broker partners to pursue profitable long term growth.
§ Create and maintain a competitive differentiation for Healthcare’s Telemedicine products, by building the brand to facilitate the placement of new business with Beazley.
§ Monitor competitive, regulatory, distribution and economic environments for Telemedicine opportunities in conjunction with the relevant stakeholders.
Underwriting
§ Develop and underwrite a profitable portfolio of telemedicine business as part of the Healthcare team.
§ Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
§ Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
§ Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
§ Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Life Sciences and Nutraceuticals accounts.
§ Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Lines.
§ Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.
§ Develop a good working relationship with the claims managers on this class of business.
Client Management
§ Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
§ Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
§ Maintenance of good business relationships with brokers.
§ Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
General
§ Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
§ Develop best practice and disseminate business and class knowledge within the Healthcare and Specialty Lines team.
§ Work with peers within Healthcare and Specialty Lines to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
§ Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
§ Production of presentations and marketing literature as required.
§ Production of business plans/research documents for the Miscellaneous Medical & Life Sciences account as required.
It is important that within all your interactions both internally and externally you adhere Beazley’s core values – Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:
§ Comply with Beazley procedures, policies and regulations including the code of conduct
§ Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
§ Display business ethics that uphold the interests of all our customers
§ Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
§ Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
§ Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups
Personal Specification:
Skills and Abilities
§ Proficient underwriting skills
§ Accurate and numerate
§ Computer skills – good working knowledge of MS Office, advanced Excel skills
§ Strong analytical skills with attention to detail
§ Able to communicate effectively with others, both verbally and in writing
§ Ability to manage time, meet deadlines and prioritise
§ Motivational skills
Knowledge and Experience
§ General commercial and financial knowledge
§ Extensive experience in insurance industry
§ Experience of Cyber & Technology underwriting
§ Extensive experience of Healthcare underwriting
§ Thorough knowledge of underwriting policy, philosophy and practice
§ Advanced knowledge of underwriting processes and systems
§ Client service experience
Aptitude and Disposition
§ Result focused, self-motivated, flexible and enthusiastic
§ Professional approach to interact successfully with managers/colleagues/external suppliers
§ Team worker as well as able to work on own initiative
§ Customer focused, with a strong ethic of service and fairness to the customer
Competencies
§ Achievement drive
§ Analytical thinking
§ Strategic thinking
§ Service focus
§ Team working
§ Forward thinking
§ Developing people
§ Conceptual thinking
The expected compensation range for this position is 150k – 205k per year plus discretionary annual bonus. You will be able to discuss your salary expectations should you be contacted about the role.
This document is subject to review after consultation with your Manager.
Expected salary: $150000 – 205000 per year
Location: Marshall, SK
Job date: Sun, 18 Jun 2023 03:41:30 GMT
