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Junior Underwriter Role Statement and Competencies
Key Result Area and Main Activities
Competencies Required
Please click on the links below to see an expanded view of the competencies
Specialist Expertise
Below Standard
Appears to be unaware of personal strengths and weaknesses
Unconcerned with adding to existing knowledge
Pretends to have expertise when they do not
Standard
Keeps up-to-date with developments in the market
Develops and maintains specialist knowledge and expertise
Acts to improve both the depth and range of specialist knowledge
Recognises the limits of own knowledge and expertise
Strong
Demonstrates broad general knowledge beyond own area or the insurance industry
Seeks out appropriate specialist advice when necessary
Reflects on successes and failures. Learns from experiences and mistakes
Has a broad understanding of the main issues affecting the market in own specialist area
Thinking
Below Standard
Preoccupied with current day-to-day operations to the exclusion of longer term issues
Fails to see the impact of (not obviously relevant) external events on the organisation
Standard
Systematically breaks down complex problems into component parts in order to reach a solution
Establishes priorities on the basis of short and long-term considerations
Finds ways to condense large amounts of information into a useful form
Strong
Thinks into the future and links it to today.
Develops complex strategies to achieve broad organisational goals
Identifies patterns or trends and combines elements to provide new and pragmatic solutions
Achievement & Drive
Below Standard
Frequently fails to meet deadlines
Does only what is required
Shows no concern with measuring personal performance
Takes on "too much".
Standard
Manages personal time and deals effectively with conflicting demands and priorities
Focuses own efforts and energy on achieving identified priorities and goals
Adapts approach in response to a changing situation or to overcome obstacles
Strong
Continually seeks to improve efficiency and performance
Sets priorities based on achieving maximum value
Commits to action or holds-back on the basis of short and long-term considerations
Initiative
Below Standard
Is accepting of the status quo
Dismissive of new ideas from inside or outside the company / industry - "not invented here" syndrome
Gives up on projects or responsibilities
Standard
Takes action before being forced to by events
Does far more than minimally required by the job
Digs beneath the obvious to get at facts. Asks questions to clarify ambiguities or to get needed details
Is open to new ideas and possibilities
Strong
Acts decisively in dealing with opportunities or crises
Searches widely for useful ideas and potential opportunities. "Catches what's in the wind"
Personally investigates to really understand
Questions those closest to the issues
Service Orientation
Below Standard
Concentrates on own abilities rather than market needs
Gives immediate 'off the cuff' responses without probing for underlying needs or problems
Standard
Seeks information about the real needs in the market, beyond the obvious
Establishes clarity with interested parties regarding mutual expectations
Strong
Maintains clear lines of communications with all interested parties
Is honest about mistakes and builds "togetherness" in solving them
Keeps promises. Does not over-promise to colleagues or clients
Impact & Influence
Below Standard
Unconcerned with the need for influencing
Says or does things without considering their effect on others
Makes political blunders
Acts solely out of a need for the approval of others
Standard
Adapts influencing style and approach as appropriate to the audience and situation
Presents complex arguments in an effective way
Modifies own behaviour / dress / language to make a particular impression on others, to help achieve a work-related objective
Strong
Establishes personal credibility and reputation in own organisation
Seeks to negotiate 'win/win' arrangements. Offers flexible alternatives that address the other party's interests
Approaches new challenges with a positive "can-do" attitude
Collaboration
Below Standard
A "loner": selfish or uncooperative
Leaves colleagues to sort out difficult situations on their own
Unsympathetic. Offends others, makes them "close up"
Habitually misreads others' behaviour or intentions
Standard
Personable; able to develop rapport easily with others
Listens "responsively" - is easy to talk to
Keeps colleagues informed, clear and up-to-date
Collaborates enthusiastically and effectively with colleagues
Strong
Meets regularly with colleagues and clients in order to develop relationships
Demonstrates understanding of the other person's point of view
Commits to the company's overall objectives rather than own departmental interests
View expanded competencies
Effective Business Relationships
Build robust, long-term, mutually beneficial relationships with brokers, clients* and others that endure over the business cycle
Create a sense of partnership with business producers
Deliver satisfactory service to business counterparties
Risk Assessment
Investigate and gather appropriate information to fully understand the risk
Evaluate the risk in light of overall risk exposure, aggregation and business plan
Profitable Underwriting Contracts
Develop continually evolving plans for balancing the book and the enlarging business area
Pursue, identify and seize business opportunities
Balance risk, compliance and commercial considerations
Monitor and Report on Performance
Use appropriate statistical and financial analysis to review, evaluate, benchmark and assess the cost effectiveness and quality of premium income
Compliance with Regulatory Requirements
Ensure that personal compliance requirements, including knowledge of regulations, are complete and up-to-date
Conduct business processes in a way which meet company and statutory regulatory requirements
* Clients or customers include all insureds, reinsureds and policyholders. Communication with such clients, within the Lloyd's Market, is frequently via an intermediated relationship (i.e. through brokers).
