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INTRODUCTION
elseco is a high technology specialty insurance underwriting agency and Lloyd’s Coverholder. elseco underwrites on behalf of circa. 60 insurance and reinsurance companies including Lloyd’s syndicates. elseco is headquartered in the Dubai International Financial Centre (DIFC) (Dubai, UAE) and is regulated by the Dubai Financial Services Authority (DFSA). The company employs some 70 professionals with regulated offices in Dubai, London, Zurich, Paris and Washington DC. The company started 14 years ago with space insurance and has since diversified into aviation and energy insurance as well. elseco’s latest evolution is the development of its technology “Platform”, namely “ATOM”. It sits at the very core of the company and is seen as business critical to the company’s future success and growth plans.
JOB PURPOSE / MANDATE:
Reporting to the Head of Energy, the Energy Underwriting Support will handle a wide range of underwriting administrative and procedural tasks, coordinate within the company, work alongside Client Advocates and Dubai-based Underwriters, and ensure all deadlines are met.
SPECIFIC DUTIES AND RESPONSIBILITIES:
• Process accounting aspects associated with underwriting, such as premium reconciliation and tracking, premium aging, and updating systems.
• Assist underwriters in processing all contract documentation accurately and on time.
• Verify pool members’ subjectivities and conduct database checks to support underwriters.
• Ensure the accuracy, completeness, and currency of data in elseco’s underwriting systems, both existing and new.
• Coordinate and oversee the training of Underwriting Support team members. elseco
• Upon receiving policy documentation, book the policy in the Policy Operating System.
• Perform compliance checks relevant to each specific policy.
• Ensure all policies are booked with utmost attention to detail in the Policy Operating System or any designated system.
• Confirm that slips are signed as instructed by the underwriter, sent to the producer/broker, and appropriately filed, including slips, wordings, closings, email communications, and technical notes.
• Scan and send documents to brokers, producers, or cedents.
• Support Client Advocates and underwriters in managing and reporting country and regional aggregates, including data entry into elseco’s aggregation control systems and coordinating external partners while quality controlling their services.
• Upon receiving signed line confirmations from brokers, liaise with their accounting teams regarding the final premium calculations.
• On receipt of closings, confirm that the booked premium matches the premium indicated in the closings and that the confirmed line aligns with the line detailed in the closings.
• Ensure all policies are booked within 24 hours of confirming the signed line.
• Process and send endorsements within 24 hours and update them in the Policy Operating System.
• Maintain both hard and soft copies of all endorsements.
• Print and present new/renewal slips, endorsements, and relevant emails to Client Advocates and/or Dubai-based underwriters.
• Resolve reconciliations with brokers and ensure no outstanding balances persist beyond one month.
• Generate reports from the Policy Operating System or any new system as required.
• Collaborate with the Finance team to address aged debt and uncorrelated cash discrepancies.
• Undertake any additional tasks assigned by Client Advocates and/or Dubai based underwriters.
• Prepare reports and management information (MI) for Head Line of Business weekly team meetings and monthly updates.
• Maintain a log of exceptions or errors related to data entry, documentation completeness, and compliance.
KNOWLEDGE AND SKILL REQUIREMENTS
• Minimum of 3 years’ relevant experience in insurance accounts, underwriting and claims support administration
• Qualification: Bachelor’s degree in Mechanical/Electrical Engineering
• Computer literacy: Microsoft office
• Highly numerate
• Access, SQL and VBA knowledge is a plus
• General attitude: problem solver, self-driven and motivated to get a job done well. The role requires to be confident and to have the ability to operate in a dynamic and multicultural environment
• Communication: perfect English is a must. Articulate. Ability to communicate to all levels well
• Attention to detail, good judgement, and a hands-on approach are required
• Manage and provide guidance to Energy Underwriting Support Team colleagues, ensuring the team operate as a cohesive team and meeting internal deadlines set by senior colleagues.
• Team player and willingness to get on and succeed.
