INTRODUCTION
elseco underwrites on behalf of around 50 insurance and reinsurance companies including Lloyd's syndicates. elseco is headquartered in the Dubai International Financial Centre (Dubai, UAE) and is regulated by the Dubai Financial Services Authority.
The company employs more than 100 professionals with regulated offices in Dubai, and London. The company started 18 years ago with space insurance and has since diversified into aviation and energy insurance as well.
elseco's latest evolution is the development of its technology Platform, namely ATOM. It sits at the very core of the company and is seen as business critical to the company's future success and growth plans.
ATOM Technologies will provide software and solutions to companies operating in highly specialized insurance markets.
Through a unique blend of IT, information, integration and innovation, the ATOM Platform will provide companies with a way to conduct business as efficiently as possible, and with the information to be as effective as possible.
JOB PURPOSE
Reporting to the Head of Underwriting Support, the underwriting supportwill handle a wide range of Space underwriting administrative and procedural matters, helping to coordinate within the company to ensure all deadlines are met.
SPECIFIC DUTIES AND RESPONSIBILITIES:
RESPONSIBILITIES RELATED TO SPACE:
- Assist the Finance team with premium reconciliation if needed.
- Assist the underwriting team in processing all contract documentation correctly and on time, including the review and signing of the documents.
- Assist underwriters with verification of members subjectivities, database verifications, and pre-launch verifications.
- Member reporting preparation, verification and generation.
- Assist the underwriter with prebind checks and capacity checks for the underwriters.
- Assist the underwriters on some underwriting tasks if requested i.e. PWA, pre-filling 360s and pricing.
- On receipt of confirmed workings, book the policy in the Policy Operating System (ATOM).
- Ensure that the final version of the slip is presented to the underwriter for signing with the written or signed line. File the slip, closings, email communication and technical notes.
- Sign and send documents to the broker/cedant.
- Ensure that all policies are booked within 7 days of confirming signed line.
- All policies to be booked with utmost detail in ATOM.
- All endorsements to be sent within 24 hours and captured within 1 week in ATOM.
- The file should be updated for all endorsements.
- Creation of Space Security list and ensure that all member/ broker/ client subjectivities are considered.
- Creation and maintenance of member reporting groups, including mapping of member's agreements and member's contacts.
- Entry and maintenance of Space member's agreements.
- Ensure that all new / renewal slips and endorsements + emails are printed and presented to the Underwriting Team for their action.
- Maintain reference registers for every new/renewal business + declined businesses.
- Generate reports from ATOM as required
- Any other tasks assigned by the Head of Underwriting Support such as queries related to lines, rates, securities et
- Ensure that the per-member repost are correct and send on time.
KNOWLEDGE AND SKILL REQUIREMENTS
- Degree educated (Insurance/Finance/Business/Management) or Engineering degree and/or CII; professional qualifications achieved.
- 1 to 2 years of Space Insurance market experience preferred.
- Proficient in the use of Microsoft software applications and demonstrate experience and interest in automated processes and systems.
- Highly numerate.
- Knowledge of Access, SQL, and VBA is a plus.
- Meticulous, hardworking ethic, positive can-do attitude, displaying strong mental agility and exercising independent judgement.
- Professional approach, self-motivated and takes initiatives to find solutions. The role requires confidence and to have the ability to operate in a dynamic and multicultural environment.
- Ability to learn and understand new technologies.
- Energy: Exhibits energy, strong desire to achieve, high dedication level.
