Case Study - Joe Sweeting
Current
position:
Assistant Underwriter, Casualty Department,
Non Marine Division.
Biography:
Joe joined Amlin in 2004 as an
Underwriting Assistant in the Casualty Department. He
previously worked in both claims and underwriting at Zurich and
Cassidy Davis (a subsidiary of St Paul) respectively.
Since joining Amlin, Joe has gained his chartered status (ACII) as well as progressing to the role of Assistant Underwriter.
The casualty team underwrite various lines of casualty business including; auto, liability, directors and officers, errors and omissions, general liability and medical malpractice.
Skills required to be a successful underwriter:
- Technical
ability – being able to manipulate data, perform model
analysis, extract and understand results.
-
Interpersonal and negotiation skills – interacting
with internal and external customers, including client meetings and
face-to-face negotiation of contracts.
- Analytical
skills – interpret risk characteristics, risk analysis
(including actuarial analysis), claims trends and portfolio
management.
- Industry knowledge – knowing how the market works and the market cycles.
A typical day
| Time | Job | Description |
| 08.00 – 09.00 | Preparation | “I begin by reviewing tasks for the day. These can include:
|
| 09.00 – 10.00 | Internal meeting | “Various internal meetings take place throughout the morning. These include:
|
| 10.00 – 10.30 | Internal Risk Review | “We undertake a review of risks underwritten by other members of the team and risks of other underwriting teams” |
| 10.30 – 12.00 | Underwriting | “Underwriting is the focus. Risks must be reviewed and analysed to assess our appetite for writing such risks. Complex mathematical model usage is combined with risk component analysis, market knowledge and contract negotiation when assessing any potential risk.” |
| 12.00 – 13.00 | Lloyd’s Box | “The Lloyd’s Box is the peak of the underwriting process. Here, face-to-face negotiations take place and decisions about risks are made.” |
| 13.00 – 14.30 | Client lunch | “I often meet with new or existing clients over lunch to discuss their business, understand their risks and review their insurance needs.” |
| 14.30 – 15.00 | Preparation for client meeting | “I review insurance submissions presented by clients, note points of interest, potential questions and review past experience.” |
| 15.00 – 17.00 | Lloyd’s Box | “In the afternoon, I return to the box for more negotiations and risk presentations from Lloyd’s Brokers.” |
| 17.00 – 17.30 | Underwriting back-up functions | “Back-up functions include entering Risk Information onto Amlin’s electronic systems, writing up meeting notes, audit and trip planning.” |
| 17.30 – 18.00 | Project work | “This involves working on areas which aid or enhance the underwriting process and include:
|
