Explore a rewarding career path with Existing Business Underwriter jobs, a critical and dynamic function within the insurance sector. An Existing Business Underwriter is a specialized professional responsible for managing and renewing a portfolio of active insurance policies. Unlike new business underwriters who assess fresh applications, these experts focus on the ongoing relationship with existing clients, primarily through their brokers, to ensure policy continuity, client satisfaction, and portfolio profitability. Their role is pivotal in customer retention and forms the backbone of long-term, stable revenue for insurance providers. Professionals in these jobs are the custodians of the insurer's existing book of business. Their day-to-day activities are centered on the policy lifecycle after the initial sale. A core responsibility involves managing the renewal process. This includes issuing renewal invitations in a timely manner, reviewing the risk profile of the policyholder, re-assessing terms and premiums, and negotiating with brokers to secure the renewal. They meticulously work through any queries or concerns the broker may have, aiming to maximize retention rates. Beyond renewals, they handle mid-term adjustments (MTAs), which are changes to an active policy, as well as policy cancellations, ensuring all actions are processed accurately and within strict service level agreements (SLAs). The scope of an Existing Business Underwriter's work is extensive. They serve as a key point of contact for brokers, building and nurturing strong, professional relationships to foster loyalty and collaborative problem-solving. They act as a referral point for underwriting assistants and junior colleagues, providing guidance and support. A significant part of their role involves rigorous compliance, ensuring all underwriting decisions and processes adhere to regulatory standards and principles like Treating Customers Fairly (TCF). They operate within a defined underwriting authority, knowing when to refer complex or high-value cases to senior underwriters. Furthermore, they are often involved in process improvement initiatives, leveraging their frontline experience to enhance efficiency and service delivery for the wider team. To excel in Existing Business Underwriter jobs, candidates typically need a solid background in underwriting, often with a minimum of two to three years of experience, specifically with existing business or renewal portfolios. This experience can be in various lines, such as Commercial Lines (e.g., Property, Casualty) or Private Client/High-Net-Worth (HNW) insurance. Strong commercial underwriting knowledge is paramount. Essential skills include exceptional relationship-building and communication abilities for effective broker interaction, superb organisational skills to prioritise workloads and meet deadlines, and a sharp analytical mind for risk assessment. A problem-solving mindset and the ability to perform under pressure are crucial. Many employers look for candidates who are self-motivated, reliable team players, and many prefer or require progress towards or attainment of professional qualifications like the Chartered Insurance Institute (CII) Cert CII or ACII. If you are a detail-oriented professional with a strategic mindset for risk management and client retention, exploring Existing Business Underwriter jobs could be the next strategic move for your career.
