Job Title: Focus Group Leader - US Miscellaneous Medical & Life Sciences
Division: Specialty Risks
Reports To: As per Beazley's organisation chart
Key Relationships: Brokers, underwriters, other staff, coverholders, external clients and suppliers
Job Summary: To direct and manage the US Miscellaneous Medical & Life Sciences (US MMLS) team within Healthcare. To deliver and execute the annual business plan, set and direct forecasts.
To underwrite a Miscellaneous Medical account within the Healthcare team and provide counsel and advice on Underwriting and market issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.
Key Responsibilities:
US Miscellaneous Medical & Life Sciences Focus Group Leader
- Responsibility for management of the US MMLS focus group including business planning and underwriting.
- Develop and implement business strategies for the team in agreement with the head of the Healthcare team.
- Plan, direct, co-ordinate and maintain the team to achieve business objectives and target profitability.
- Monitor the portfolio and take corrective measures if necessary to ensure long-term profitability.
- Ensure that own and team activities comply with all relevant company, regulatory and legal requirements.
- Deliver team responsibilities as delegated by the head of the Healthcare team.
- Provide proactive oversight of all US MMLS underwriting and related functions within the Healthcare
Underwriting
- Develop and underwrite a profitable portfolio of HML 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 HML accounts.
- Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks.
- 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.
Team Leadership
As a Beazley Manager, you are expected to -
- Provide leadership, direction and support to the team.
- Foster a spirit of inclusion, teamwork and unity that reflects Beazley's overall workplace culture, values and appreciation of the benefits of diversity.
- Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential and ensure continuous development of them and their wider team.
- Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives.
- Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution. Conversely, providing timely feedback to address poor performance, taking disciplinary action as appropriate.
- Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc.
- Encourage knowledge sharing and effective delegation to minimise key person dependencies.
- Work with other team managers ensuring team resources overall are effectively utilised and people are appropriately challenged.
- Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.
- Work with Culture & People as appropriate to escalate performance concerns ensuring set objectives are clear and measurable and progress is tracked accordingly.
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 US MMLS, Healthcare and Specialty Risks team.
- Work with peers within Healthcare and Specialty Risks 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 HML 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 which incorporates FCA and PRA 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 & 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 & Experience
- General commercial and financial knowledge
- Extensive experience in the insurance industry
- Extensive experience of Healthcare underwriting
- Thorough knowledge of underwriting policy, philosophy and practice
- Advanced knowledge of underwriting processes and systems
- Client service experience
Aptitude & 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