[Samsung Fire & Marine Insurance Europe] Underwriting Assistant

Job Description

KOTRA London provides recruitment services to companies based in the UK and South Korea. As part of its services, we place job advertisements on behalf of our clients, review applications, and provide application details to our clients.

Our client Samsung Fire & Marine Insurance Europe is recruiting an Underwriting Assistant to join their business in the UK.

[Main Purpose and objective of the role]

To assist the Underwriting team in efficiently processing of insurance applications and policies, ensuring accuracy and compliance with regulatory requirements, and to facilitate the arrangement of suitable insurance policies tailored to client needs.

[Key responsibilities]

• Build and maintain strong, ongoing relationships with clients, brokers, agents, and other business partners.
• Collaborate with underwriters to support portfolio development and enhance technical underwriting knowledge.
• Modify, update, and process existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.
• Process and update existing policies and claims to reflect changes in beneficiaries, coverage amounts, or insurance types.
• Accurately process and record new insurance policies.
• Review and verify data on insurance applications and policies.
• Examine communications from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
• Correspond with insured, broker or agent to obtain information or inform them account status or changes.
• Transcribe data to worksheets and enter data into in-house systems for use in preparing documents and adjusting accounts.
• Compare information from application to criteria for policy reinstatement and approve reinstatement when criteria are met.
• Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
• Calculate premiums, refunds, commissions, adjustments and new reserve requirements.
• Liaise with internal departments ensuring requests for information and guidance are handled effectively.
• Gathering information from clients to assess their insurance needs and risk profile.
• Foreseeing clients’ insurance needs such as policy renewals.
• Collect premiums and manage account processing to ensure accurate and timely financial transactions. Key responsibilities
• Arranging specialised types of insurance cover, preparing reports for insurance underwriters and surveyors.
• Advising clients on risk management and helping to devise new ways to mitigate risks, for example, by adding security measures to commercial properties.
• Advising clients whether and when they need to make a claim on their policies.
• Perform general administrative tasks to support daily operations and maintain organisational efficiency.
• Undertake any additional tasks or responsibilities as reasonably assigned by the company to meet evolving business needs.

[Qualifications]

• Bachelor’s degree or equivalent in insurance, business, economics, or a related field (preferred).
• Chartered Insurance Institute (CII) qualifications (advantageous but not essential).

[Skills & Experience]

• Prior experience or knowledge of the insurance industry (preferred but not essential)
• Exceptional communication and interpersonal skills
• Strong analytical and numerical abilities
• Good organisational skills with ability to work to deadlines Business networking skills
• Competent IT skills, including proficiency in Microsoft Office (advanced Excel skills preferred)

[Key Competencies]

• High level of accuracy and attention to detail
• Strong customer service focus
• Proactive and able to work within a team environment
• Good business sense
• Reliability and excellent time management
• Maintains a high level of confidentiality

[Recruitment]

• Full time (contract worker 12 months, renewal possible after contract expiration)
• Working hours : Mon-Fri, 8AM-5PM (1hr Lunch Break)
• Holiday : 28 days (including bank holiday)
• Pay : Negotiable (Depending on Experience)
• Insurance : Provision of health insurance in accordance with local labor laws
• Recruitment Process :

– 1st: Document review (Written review of submitted documents such as resume, self-introduction letter, and certificate)

– 2nd: Interview (comprehensive evaluation of skills required for job performance through interview and foreign language evaluation)

※ Interview candidates will be notified individually only to those who pass the document screening

Job Type: Full-time

Pay: £27,000.00-£28,000.00 per year

Benefits:

• Private medical insurance

Schedule:

• Monday to Friday

Language:

• Korean (preferred)
• English (preferred)

Work authorisation:

• United Kingdom (preferred)

Work Location: In person

Application deadline: 07/02/2025