Graduate Underwriting & Assurance Analyst

Graduate Underwriting & Assurance Analyst

Location:
Haywards Heath
Salary:
£22,000 to £29,000
Department:
Underwriting
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We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
 

The Underwriting & Assurance Team are tasked with using analytics and insight to drive the ongoing optimisation of the First Central Group (FCG) underwriting footprint, and the monitoring of underwriting and pricing performance, to support the delivery of profit and volume targets for the business.


We have an excellent opportunity for a newly graduated individual to join our Underwriting team, as a Graduate Underwriting and Assurance Analyst in Haywards Heath, West Sussex.


You'll contribute to and support various projectss, produce analysis to support the team’s wider objectives, and proactively seek ways to improve existing processes in the Pricing & Underwriting Department.
 

To be successful in this role, you’ll need to:

  • hold a minimum 2:1 in a numerical undergraduate discipline

  • have experience with analytical programming languages, such as SAS, Python and R preferred

  • have strong problem-solving skills, with the ability to adopt a logical approach to solving problems


Job responsibilities:

  • Use analytical and statistical techniques to support the iterative optimisation of the Underwriting Footprint

  • Support the development and maintenance of analytical tools, reporting suites, and appropriate feedback/action loops, to enable the efficient and accurate operation of the Pricing & Underwriting Performance Monitoring and Assurance activities– including:

  • Creation and maintenance of analysis programs, tools, and predictive models written in SAS, RADAR, EMBLEM, Python/R and other software packages

  • Production of ad-hoc analyses to support business decision making

  • Example output may include:

  • Summaries of expected loss ratio by factor and recommendations for remedial action

  • Delivery of expected loss ratio and risk indices to business stakeholders

  • Standardised analysis/reports assessing the efficacy of recent Pricing or Underwriting changes

  • Support the ongoing function of the Underwriting and Assurance Team by completing or contributing to:

  • Providing inputs for expenses, profit and capital into pricing models and production systems

  • Internal monitoring of the Reinsurance Programme and contribute to the modelling and assessment of future Reinsurance Programme considerations and parameters.

  • Ongoing analysis of Competitor Underwriting activity and Market Developments

  • Compiling timely and accurate information/analysis for management decision-making purposes.

  • Be a conduit for change and improvement within the Pricing and Underwriting area and wider business.

  • Proactively monitor and suggest improvements which drives the business forward introducing new rating factors and finding new patterns and key variables.

  • Work with Senior Analysts to proactively own personal development – researching and learning about new tools, techniques, and data sources which may benefit the team.

  • Comply with the requirements, and act in accordance with, the Group Code of Conduct and Fitness and Propriety policies at all times

  • Ensure compliance with Company Policies, Values and guidelines and other relevant standards/ regulations at all times



Job-specific competencies
Experience, Skills & Qualifications

  • Knowledge of statistical methods and analytical techniques Knowledge of personal lines general insurance preferred

  • Strong commercial acumen.

  • Good communication skills, both verbal and written

  • Good time management and organisation skills

  • Strong mathematical skills

  • Data and statistical analysis skills preferred

  • Strong IT skills (including Excel and ideally programming skills) preferred

  • Logical thinker with solid reasoning ability

  • Emphasis on attention to detail and accuracy

  • Quick learner

Behaviours

  • Aligned to the values of Ambition; Agility; Ownership; Collaboration

  • Self-motivated and enthusiastic

  • An organised and proactive approach

  • Ability to work on own initiative and as part of a team

  • A flexible approach and positive attitude

  • Strives to drive business improvements to contribute to the success of the business

So, if you’re up for the challenge and would like to join our award winning, vibrant and busy team, we want to hear from you today.

What can we do for you?


We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…

  • Fantastic training and development opportunities
  • Employee benefit packages to suit your lifestyle
  • Flexible working
  • YOUday – we give you an extra day off to celebrate a special day
  • The opportunity to take a paid day off each year to do charity work
  • A health cash plan
  • Help with travel expenses
  • The opportunity to buy additional holiday
  • Company pension scheme
  • Group life assurance
  • Enhanced maternity and paternity pay
  • Professional subscription fees paid

Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.

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86% of people would recommend a friend to work at First Central

Based on 164 Glassdoor reviews (March 2022)

Benefits

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Flexible working

We support colleagues who wish to work flexibly whilst meeting the needs of the business.

YOUday

If it’s your birthday or you just fancy some me-time, get an extra day off for whatever you want.

Holiday Extra

We give you two opportunities each year to buy or sell up to five days of holiday.

Volunteering

Get a day off each year to take part in volunteering activities.

Health cash plan

Claim money back on your healthcare costs, such as dental check-ups and eye tests.

Season ticket loan

We provide interest-free loans to cover the cost of season tickets for rail, bus or car parking.