This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Purpose:
To provide complete underwriting support for the Marine Underwriting team.
Detailed Duties:
Underwriting- Where possible be present at all stages of the insurance broke
- Populate risk template with relevant data
- Entry of mandatory risk details onto S2000
- Ensure insured name is correct on S2000
- Completion of Electronic Front Sheet (EFS)
- Ensure inclusion of Technical Premium and Rate Movement onto S2000
- Make sure relevant documentation is scanned against the S2000 reference
- Support of Underwriters and Assistants in ensuring overall Syndicate SLA’s are maintained
Scanning relevant Underwriter sign off when required
Compliance
- SLAs for slips and endorsements
- Assist with Lloyds licencing requirements
- Send relevant slips for pre-bind check and follow up any fails that may occur with the underwriter/broker
- Assist with completion of sanctions checks
- Completion of annual compliance training
- Compliance bulletin review and action
- Assist with ensuring downgrade clauses comply with Ascot’s policy and highlighted correctly on front sheet.
Facultative Reinsurance Purchasing
- Assist with the purchasing of reinsurance placements and any issues that may arise.
- Make sure that any endorsements that affect the facultative reinsurance are notified to the relevant team
- Understanding of current RI purchase procedures.
Renewals
- Prepare renewals in advance
- Ensure that all renewals are actioned including all non-renewed premiums
- Make sure the correct aggregation boxes have been ticked on front sheets, and if changed then the right reason for aggregation change selected.
- Ensure all schedules are available and passed to Polo at the time of underwriting
- Where required chase the broker for outstanding schedules.
Attendance
- Attendance at the monthly administration and Claims meetings when required
Credit Control
- Review the weekly credit control report and action. For risks over 31 days overdue refer to the underwriter. When applicable send relevant comments on the chasing of premium to Xchanging. Review inward XL premium adjustments.
Workflow Management
- Review of partial policies
- Un-scanned slips
- Promised lines
- Quotations
Reporting
- Claims data - reporting discrepancies between submissions and S2000 data
- Aggregation reports
- Quarterly class reports
- UMC Reports
- UAS Reports
Review and action of exception reports
Client Management (when requested)
- Attend client and broker meetings.
- Take notes and publishing to S2000.
Ensure action points are followed up.
Facility Management
- Chase and process relevant bordereaux
- Reconciliation of estimated premium to actual
- Review of signed premium against estimated premium
Assist in scanning of delegated underwriting form.
Query Resolution
- Slips within SLA
- Endorsements
- Aggregation
- USM’s
- BST
- Polo
- Velonetic
- IMR
- Crystal/Lloyds QA Tool
- S2000 (Subscribe)
- Swordfish
- GAAP
Other duties
- Ad-hoc duties as directed by line management.
- Implementation of new procedures.
Please be aware that Ascot Group’s job opportunities will be posted on our official careers page. All official communication comes from @ascotgroup.com email addresses, if you receive a job offer or recruitment communication from Ascot Group that you suspect might be fraudulent, do not hesitate to contact us directly to verify its legitimacy. We will never ask for payment or sensitive personal information during any stage of the recruitment process. Your privacy and trust are of utmost importance to us, and we strive to ensure that you have a positive experience with Ascot Group.
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Ascot Group London, England Office
20 Fenchurch Street, London, England, United Kingdom, EC3M 3AG
