These are incredibly exciting times here at LV= GI. We’re already one of the largest personal lines insurers in the UK and at the end of the year we’ll become part of Allianz, a world-leading financial services company. This means things are changing – quickly – and for the better.
We’ve ambitious plans that will bring opportunities for all of our people. And we’re changing gear, working with a new energy that’ll see us transform our company, industry and beyond.
We’ve a vision to become ‘Britain’s Best loved’, and a strong sense of purpose to help our customers look after what they love. We’re passionate and proud about what we do. We’ll always do the right thing, to inspire trust in our people and our customers.
LV= has a great opportunity for an Underwriter within our Direct business. Based in our Bournemouth or Croydon office, your primary focus will be the definition and delivery of the motor product proposition, underwriting development and customer experience across all direct distribution channels to support LVGIG’s strategic aims. You’ll take a supporting role in proactively enhancing and developing our Motor products and underwriting footprint, business controls and machine learning initiatives, including participating and presenting in forums and sharing insight and recommendations with senior management to drive continuous improvements to our Motor product range.
In this role, you’ll undertake market research and monitor MI, identify opportunities and recommend changes to our products and processes to ensure they are competitive, meet customer expectations and comply with regulatory requirements.
You’ll work closely with the Senior Underwriters and Product Manager to define product strategy and collaborate closely with colleagues across the business to ensure successful delivery of product initiatives e.g. data enrichment, application fraud, footprint and quotability. You’ll also act as an expert referral point and provide technical approval for other parts of the business.
This is an exciting opportunity for someone with in-depth motor technical knowledge to help shape our motor products and underwriting to reflect a rapidly evolving digitalised world and customer needs and to be part of a successful team within the GI Direct business.
What are we looking for?
As a self-starter with the ability to proactively work on your own initiative, setting own priorities and managing workload with minimum supervision, you’ll offer us your significant experience as an insurance professional. You’re likely to have a background in motor underwriting or product development within a Direct environment (call centre, web, aggregator and partner), or have relevant technical expertise relating to motor insurance.
You’re organised, analytical and thorough and proactively identify opportunities and risks, and form sound judgements to make appropriate recommendations. You enjoy working as part of a busy team, using your strong communication skills and friendly, confident manner to collaborate and build great relationships with colleagues across the business and external partners, while managing stakeholder expectations.
Whilst data focused, you’re able to think commercially and always have the customer at the forefront of your mind. Your inquisitive nature means you constantly seek ways to improve the customer proposition and your can-do attitude and project management skills ensure that you see tasks through to a timely conclusion, overcoming obstacles and driving change.
You’re likely to have a background in underwriting, product development, data analysis/data science, or have relevant technical expertise in similar industries. You’ll have a strong track record in delivering projects and tasks to a timely conclusion, along with a proven record of using data analysis to drive meaningful outcomes. You may have acquired this expertise through an insurance, financial services or retail environments. And you’re likely to hold or be progressing towards a relevant Insurance or professional qualification
However, all things said, it’s your positive and can-do attitude that benefits us the most. So, if you are a less experienced professional and are enthusiastic for a challenge, we’d consider offering a position as a development opportunity to a promising candidate.
What will you be doing?
You'll need to:
- Undertake ongoing research and provide regular insight into new motor propositions and product enhancements to assist with developing strategy and to support pricing and underwriting activity (acting as our ‘go to’ expert on motor technical / product issues).
- Develop and monitor market insight, customer feedback and product performance MI in order to:
- Define and deliver product enhancements to ensure our products are competitive and
meet customer expectations.
- Identify opportunities and make recommendations to enhance the customer journey
across channels (for quotes, sales, MTAs and renewals).
- Define and deliver underwriting and terms across channels to improve profitability and
- Identify and recommend enhancements to procedures and controls in order to improve efficiency and reduce risk.
- Be comfortable liaising with other areas such as Claims, Digital, Data Science, Marketing, Counter Fraud, Service Operations and Pricing to share insight and to deliver on our goals.
- Provide expert technical/product input into tenders and the delivery of new partner schemes.
- Review and approve technical/product content of policy terms and conditions, marketing, call guides and web wordings.
- Support projects, undertaking research contributing to presentations, and participating in or leading work-streams.
- Act as technical referral point for our motor products, as well as coaching and providing guidance on technical issues.
- Engage proactively with other functional teams to ensure alignment of purpose and successful delivery of initiatives and represent Underwriting at management meetings.
- Assist the Product Manager with Motor industry issues (e.g. ABI).
- Assist with regular product reviews to ensure products remain fit for purpose and provide value for our customers.
- Deputise for the Underwriting Managers.
- Undertake audits of operations, partners or third-party data providers to ensure adherence to underwriting guidelines.
- Analyse product relevant regulatory bulletins (eg from ABI and FCA), escalating issues to management when necessary.
Comply with Conduct Risk principles.
Reward and Benefits
This role is a Band B in the LV= Structure. To find out more about our bands, click to view our FAQ page here. We want you to love what you do that’s why we’ve put together a benefits package that recognises and rewards a job well done.
We’ll give you:
- Flexible working opportunities – many of our employees job share or work part-time, flexi-time, or compressed hours. Our new hybrid working model now offers all employees the option to work from home 3 days a week and 2 days in the office.
- 26 days' holiday – which increases after two years’ service to 28 days
- A competitive pension for which LV= will pay twice the amount you pay, up to 14% (please click here to read more about it)
- An annual bonus scheme based on company and personal performance
- A flexible benefits package (e.g. discounted retail vouchers, great value dental insurance)
- A generous 25% discount off our general insurance products including home, pet and travel as well as up to 50% discount on your car insurance.
To find out more about our benefits and rewards, please click here.
LV= is an equal opportunities employer who values a diverse and inclusive workplace. We recognise that people work in different ways, and we value alternative viewpoints, celebrate individuality and foster a culture where everyone can bring their true self to work. We are committed to creating a diverse workforce, we accept applications from everyone regardless of your background, beliefs, culture, gender identity, ethnicity, sexual orientation, disabilities and long term health conditions