11 Underwriting Graduate Schemes

Are you hoping to land a place on an underwriting graduate scheme?

If so, this post is for you. We share a list of some of the companies that offer opportunities for aspiring underwriting professionals.

1: Allianz

Allianz offers underwriting graduates a two-year programme designed to give them the knowledge and experience to become an underwriting specialists.

You will be supported as you complete the Chartered Insurance Institute’s Advanced Diploma in Insurance (ACII).

During the graduate scheme, you could get involved with arranging insurance policies, for several different types of companies in different industries.

To get a place on the underwriting graduate scheme at Allianz, you must have a 2:1 degree in and subject.

Find out more about the underwriting graduate scheme at Allianz

2: Hiscox

The underwriting graduate scheme at Hiscox is rotational in nature and is designed to give you the broad experience that you need.

You will also have the opportunity to do a rotation outside of underwriting in another business function such as pricing or catastrophe modelling.

Find out more about the underwriting graduate scheme at Hiscox

3: Chaucer

The underwriting graduate scheme at Chaucer lasts for 24 months and is designed to build you into a professional underwriter, who understands risks and how to manage them.

During the programme, you’ll learn everything from the initial introduction of the risk by the broker, through to the assessment of the coverage required, to policy pricing, account management and more.

You will also be supported as you get your insurance qualification.

Find out more about the underwriting graduate scheme at Caucer

4: Convex

Convex is an international insurance and reinsurance company, operating in London and Bermuda. There are opportunities in both insurance and reinsurance.

Find out more about the underwriting graduate scheme at Convex

5: Tokio Marine Kiln

On the two-and-a-half-year underwriting graduate scheme at Tokio Marine Kiln, after the two-week induction, you will complete 4 underwriting rotations in your first year and three rotations in your second year. You will then be onboarded for your trainee Underwriter role.

Find out more about the graduate programme at Tokio Marine Kiln

6: Markel

On the 2-year underwriting graduate programme at Markel, will join a core underwriting team, where you will be supported by a team of underwriters.

You will follow a structured training plan, which includes the opportunity to complete a series of mini-secondments. This will help you to broaden your knowledge and understanding of the business.

You may be offered a permanent position upon completion of the programme.

Find out more about the graduate opportunities at Markel

7: Charles Taylor

Charles Taylor offers Graduate Underwriting Assistants positions for graduates who want to enter the world of insurance.

In this role, you will work in teams to evaluate and assess information to aid in decision-making. You will gain a solid foundation in underwriting and gain an understanding of relevant laws, investigations and analysis.

On the InsurTech graduate programme, you will develop your skills in project management, Business Analysis, Service delivery management, Enterprise architecture, data and analytics, sales and marketing and more.

Find out more about the graduate underwriting assistant opportunities at Charles Taylor

8: Ark Syndicate Management LTD

Ark Syndicate Management LTD specialise in insurance and reinsurance for clients worldwide.

During your first year on the graduate programme, you will rotate across a variety of teams to get a comprehensive overview of the business.

The programme is designed to enable you to understand the processes involved in working for a successful Lloyd’s syndicate before specialising.

To apply, you will be required to have or be predicted to achieve a 2:1 degree.

Find out more about the graduate programme at Ark Syndicate Management

9: Aspen

Aspen offers a graduate underwriting graduate scheme. It runs for two years, during which graduates will be supported as they gain professional qualifications.

Find out more about the graduate opportunities at Aspen

10: Chubb

Chubb offers one-year programmes to give graduates a wide range of commercial skills, potentially leading to opportunities in underwriting, claims or operations.

The application process involves an online application and questionnaire, a telephone-based assessment, a face-to-face interview and an assessment centre.

Find out more about the early career development programme

11: NFU Mutual

Whichever underwriting team you join, you will play an important role in maintaining NFU Mutual’s reputation as a fair and reliable insurer.

This may involve:

• Controlling and managing insurance exposure and risk
• Protecting the business and customers from potential fraud
• Provide underwriting services

Find out more about the underwriting programme at NFU Mutual

Top tips for getting an offer on an underwriting graduate scheme

1. Research: Before sending out applications, do research about the company. Learn about their culture, requirements, application process, and deadlines.
2. Tailor your resume and cover letter: Customize your CV and cover letter to match the requirements of the job and the company’s culture. Highlight your academic achievements, relevant coursework, and any relevant work experience or internships.
3. Prepare for the interview: Prepare for the interview by researching the company, practising your responses to common interview questions, and thinking about how your skills and experience match the requirements of the job.
4. Showcase your skills and experience: During the interview, be sure to showcase your skills, knowledge, and experience related to underwriting. Emphasize your analytical skills, attention to detail, and ability to work under pressure.

What qualifications might I attain on an underwriting graduate scheme?

Underwriting qualifications are designed to provide individuals with the knowledge and skills needed to assess risk and make underwriting decisions in various industries, including insurance, banking, and finance.

Here are some of the most common underwriting qualifications in the UK:

1. Certificate in Insurance (CII): This is a basic qualification offered by the CII, which covers the fundamentals of insurance, including underwriting principles and practices.
2. Diploma in Insurance (CII): This is a more advanced qualification offered by the CII, which covers a range of insurance topics, including underwriting, claims, and risk management.
3. Certificate in Risk Management (IRM): This is a qualification offered by the IRM, which covers the principles and practices of risk management, including underwriting and risk assessment.
4. Certificate in Commercial Underwriting (LIBF): This is a qualification offered by the LIBF, which focuses specifically on commercial underwriting in the banking and finance industries.
5. Advanced Diploma in Insurance (CII): This is the highest-level qualification offered by the CII, which covers advanced topics in insurance, including underwriting and risk management.

Obtaining underwriting qualifications can lead to career advancement opportunities.

Summary

Thanks for taking the time to read this post. If you would like some help getting a good graduate job, do not hesitate to contact us.

Underwriting graduate schemes are a great way for recent graduates to gain practical experience, develop their skills, and kick-start their careers in the insurance industry. With the right preparation and mindset, you can successfully apply for and secure a position in an underwriting graduate scheme.

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