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Management Trainee - London UW - Delegated Authority Business


With a startup spirit and 90,000+ curious and courageous minds, we have the expertise to go deep with the world’s biggest brands - and we have fun doing it. Now, we’re calling all you rule-breakers and risk-takers who see the world differently, and are bold enough to reinvent it. Come, transform with us.


Inviting applications for the role of Management Trainee, Delegated Authority Business

•    Setting up Binding Authority contract with Contractual rules and aggregate limits on DUA tool
•    Completing a Bordereau Questionnaire by mapping the bordereaux with relevant reporting standards using the DUA schema questionnaire
•    Review of errors/ breaches and perform data enrichments within the DUA system
•    Reconciliation of the Premium and Claim amounts with the signing present on Syndicate and Commercial applications
•    Logging of data quality issues into the query log.
•    Working with the onshore team regarding a quality control review of issues as part of an onshore escalation process to underwriters 
•    Bordereaux standardization and Financial Reconciliation for monthly BDX spreadsheets
•    Exposure to London Market (Syndicate & Company) is a must
•    Knowledge of P&C, Specialty, Reinsurance, Claims and Underwriting services
•    Working as per the TAT and SLA agreed for the business
•    Maintaining customer’s services and Quality standards by adhering to client procedures and process requirements


 Responsibilities:
•    Lloyds Market Insurance or UK Insurance Experience 
•    Manage team of 10-15 staff as per given service level targets
•    Knowledge of Binding Authority/ Delegated Authority Business for Coverholder
•    Good Knowledge of MS Office, MRC, MRCE and Bordereaux.
•    Provide technical support and bordereau processing assistance to other members of the team
•    Experienced in a technical insurance role, such as account handling, wordings or underwriting, is essential 
•    Be experienced in producing Binding Authority MRC Slips & Endorsements from scratch
•    Excellent knowledge of binders process
•     Monitoring submissions of the monthly Bordereaux and chasing up any that are late
•    Leading weekly/monthly/quarterly discussions on operations with client UW and company stakeholders.
•    Understanding of risks faced by the function and the controls in place to manage and mitigate the risks 
•    Ensuring clarity around priorities and goals for the entire functional area
•    Ability to function effectively in a team environment exercising good judgment
•    Working with senior management and other peers for strategy development and execution planning
•    Root Cause Analysis on escalations received
•    Very good problem-solving skills & attention to detail.
•    Ability to accurately interpret and compile information from a variety of sources and systems

Qualifications we seek in you!

Minimum qualifications:

•    Graduate (in any discipline)
•    Relevant work experience for London Market Insurance
•    Should have wing to wing knowledge of the Underwriting lifecycle 
•    Must demonstrate and foster customer focus, teamwork, accountability, initiative and innovation.
•    Fluent in English language- both written and oral
•    Preferred Qualifications
•    Any Graduate (Preferred - BSc/B Com)

Preferred qualifications:
•    Insurance domain awareness
•    Good knowledge of MS Office
•    Preferred with certification on one of the streams i.e., CII London i.e., ALMI, FIT or Cert CII or equivalent or AINS, CPCU certification
•    Knowledge of Bureau/Non-Bureau market
•    Knowledge of Binder, Lineslip and Consortium Processing
•    Exposure to Reinsurance Market and its types such as Prop and Non prop
•    Exposure to Treaty and Fac Reinsurance
 
Genpact is an Equal Opportunity Employer and considers applicants for all positions without regard to race, color, religion or belief, sex, age, national origin, citizenship status, marital status, military/veteran status, genetic information, sexual orientation, gender identity, physical or mental disability or any other characteristic protected by applicable laws. Genpact is committed to creating a dynamic work environment that values diversity and inclusion, respect and integrity, customer focus, and innovation. For more information, visit www.genpact.com. Follow us on Twitter, Facebook, LinkedIn, and YouTube.

Job: Management Trainee

Job ID: INS011931

Primary Location: India - Gurugram

Education Level: Bachelor's / Graduation / Equivalent

Job Posting: Apr 4, 2022

Master Skills List: Operations

Job Category: Full Time