Senior Underwriter

Job title

Senior Underwriter

Location

Hybrid

Division

MD Insurance Services Ltd

Reporting to

Underwriting Manager

Salary

£36K - £50K Dependent on experience

Job Purpose

To lead the underwriting of complex and high-value latent defects risks across residential and mixed-use construction projects. The Senior Underwriter plays a key role in risk assessment, pricing, technical evaluation, and broker engagement, ensuring the profitable growth of the latent defects portfolio in line with underwriting appetite and company standards.

Key Responsibilities:

Technical Underwriting

• Effective risk selection and acceptance for new business applications, including complex latent defects risks, including large-scale residential developments, high-rise buildings, and mixed-use projects.
• Evaluate technical risk factors such as construction methodology, design complexity, structural integrity, and contractor experience.
• Review and interpret financial information and building technical reports, technical surveys, planning and building control documents.

Risk Assessment & Pricing

• Assess risk exposures and determine appropriate pricing and coverage terms within delegated authority.
• Make recommendations for referral cases outside personal authority limits.
• Ensure underwriting decisions reflect the company’s risk appetite and long-term portfolio profitability.

Portfolio Management

• Monitor performance of the latent defects book and identify trends or emerging risks.
• Contribute to the development and refinement of underwriting guidelines, pricing models, and policy wording.

Broker and Client Engagement

• Act as a senior point of contact for brokers, developers, and key clients.
• Build and maintain strong relationships to support new business.
• Attend client meetings, broker presentations, and occasionally conduct site visits.

Team Mentoring and Leadership

• Support Underwriters and Assistant Underwriters through coaching, peer reviews, and technical guidance.
• Lead by example in professionalism, technical accuracy, and risk awareness.
• Contribute to training and onboarding of new underwriting staff.

Governance & Compliance

• Ensure compliance with internal underwriting standards, authority limits, and external regulatory requirements (e.g., FCA, PRA).
• Maintain accurate underwriting records and participate in audit processes.

Skills & Experience

• Extensive underwriting expertise within the construction, property, insurance sector, demonstrating a strong understanding of the technical and commercial aspects involved.
• Ability to analyse complex risk profiles, including detailed review of technical reports, building specifications, and contractor credentials to determine underwriting terms and conditions.
• Excellent decision-making and risk management capabilities, balancing commercial objectives with prudent risk selection to optimise portfolio performance.
• Strong communication skills to present risk assessments, underwriting decisions, and technical information clearly to both technical and non-technical audiences.
• Strong numerical accuracy to ensure precise premium calculations

Qualifications and Educational Requirements:

• Relevant professional qualifications such as Chartered Insurance Institute (CII) diplomas or equivalent underwriting certifications are desirable.

Personal Attributes

• Collaborative: Works well with teams, brokers, insurers, and technical experts to achieve optimal outcomes.
• Customer-focused: Understands client needs and builds strong professional relationships
• Decisive: Confident in making informed underwriting decisions, even under pressure.
• Detail-oriented: Meticulous attention to detail to ensure accuracy in risk analysis and documentation
• Communicative: Clear and effective in both written and verbal communication with technical and non-technical stakeholders.