Junior Underwriter

About Marshmallow

We started Marshmallow when we found out how unfair insurance prices are for people who move to the UK. All because the industry hasn’t given this huge cohort of people a second’s thought, and isn’t set up to price them properly.

We saw an opportunity to do things differently, so we made it our mission to back the ones who step outside the norm. Since we started, we’ve helped 100,000s of people get a fairer deal on their car insurance. Using technology, we serve people that are often overlooked by financial services companies, solving important problems for people who need it most.

We know there are millions of marginalised customers out there. And we know that they face unique problems that most companies aren’t even aware of. We believe that our future is helping these people by learning about their experiences, and building our company around their needs. And there are strong signs that there’s a need for a company like us. Earlier this year we hit profitability, which is a huge milestone, but the most exciting thing is that we’re only just getting started.

How We Work

We’re really proud of the culture we’ve created. We push for progress every day, because we know that we’ll only hit big milestones by taking lots of smaller steps. We’re always open to helping our team mates, sharing our ideas, experience and knowledge to solve problems together. We take risks, think creatively and experiment relentlessly to meet our customer’s needs, and never pass blame when things go wrong. We encourage people at all levels to take ownership of their work, and to be bold in challenging how we do things. Everyone has a voice and the opportunity to make an impact.

And autonomy and ownership are only possible with clear direction. That’s why we collaborate to do in-depth planning twice a year, and make sure we leave with clear goals and objectives that flow from top to bottom. To make sure we’re as aligned as possible across functions, most of our work rolls up into four tribes; Acquisition, Retention, Claims and Pricing, Underwriting & Fraud. Each tribe has multiple teams embedded in it, working cross-functionally to do great work.

We’re so excited for all of the challenges up ahead, and we need more people to help us tackle them! If life at Marshmallow sounds like it could be for you, explore our culture handbook or read our blog to find out more.

The Underwriting team

Underwriters at marshmallow are primarily responsible : managing the risk associated with our products by establishing clear rules and acceptance criteria therefore delivering the targeted loss ratio. This is done by meticulous management of clear policy wordings, acceptance criteria and guidelines. In addition to this our Underwriters are expected to be commercially driven, and to have a keen eye on the market in the interest of identifying ways we can improve our product offering.

Job Overview

We’re looking for a motivated Junior Underwriter to play an important role in the Underwriting team in the form of owning queries from other parts of the business;the supporting of new products & offerings across the business; document management; underwriting audits, and indemnity decision making, alongside an overarching responsibility to manage the risk our policyholders pose through a variety of underwriting-led initiatives.

What You Will Be Doing

• Underwriters are relied upon by all customer-facing teams across the business for escalation and guidance. Expect a constant stream of queries and the need to provide succinct interpretation of underwriting guidelines and criteria.
• You will carry out an audit of new business and renewal policies which inform discussions about new trends, fraud performance and pricing rule adherence.
• You will own the policy documentation and are expected to keep these up to date in line with market trends as well as new Marshmallow processes and products.
• Underwriters own the remedies and communications used for indemnity purposes. This requires you to have an excellent level of knowledge with respect to our claims appetite, policy wording, underwriting guidelines and insurance legislation such as CIDRA.
• Underwriters play an integral part in determining the underwriting footprint. You will be expected to monitor, discuss and influence this footprint with respect to the risk individuals pose, as well as make recommendations for risk mitigation.
• Underwriters are experts in the insurance industry and continuously provide context on this as well as regulation and market insight to others in the business.
  
  

What we're looking for from you

• You work well in a fast paced environment where priorities can change quickly in line with opportunities and challenges presented by the market. This requires an ability to adapt and thrive under pressure.
• You are in the early stages of your insurance career and have a keen interest in Underwriting, specifically working for a market disruptor. You believe in our mission and want to make insurance more accessible.
• Excellent written English and strong verbal communication skills are vital in a Junior Underwriter.
• You like to take ownership of your work and work well both autonomously and collaboratively with the team and your stakeholders
• You have a growth mindset- love to learn and develop and see feedback and challenges as a learning opportunity
• You are able to effectively educate others about subjects you’re confident in such as insurance, risk and regulation
• You have an interest in, or have started working towards, your CII qualifications at Certificate level
  
  

Perks of the job

• Flexible working - Spend at least 2 days a week with your team in our new collaborative London office
• Competitive bonus scheme - designed to reward and recognise high performance 🌟
• Flexible benefits budget - £50 per month to spend on a Ben Mastercard meaning you get your own benefits budget to spend on things you want. Whether that’s subscriptions, night classes (puppy yoga, anyone?), the big shop or a forest of houseplants. Pretty much anything goes 💰
• Mental wellbeing support – Access therapy and mental health sessions through Oliva 💚
• Learning and development – Personal budgets for books and training courses to help you grow in your role. Plus 2 days a year - on us! - to further your skillset 🤓
• Private health care - Enjoy all the benefits Vitality has to offer, including reduced gym memberships and discounts on smartwatches 🏥
• Medical cash plan - To help you with the costs of dental, optical and physio (plus more!)
• Tech scheme - Get the latest tech for less 🖥
  
  

Plus all the rest; 33 days holiday (including bank holidays), pension, cycle to work scheme, monthly team socials and company-wide socials every month!

Our process

We break it up into 3 stages:

• Initial call with a member of our TA Team (30 mins)
• An online written task
• A skill-based interview where you will discuss your previous experience etc. with Katie Williams, Senior Underwriter (1 hour)
• A culture interview to check that your work style fits our processes and values with Paula, our Insurance Director (1 hour)
• We’ll let you know if you’re invited to an interview or not. But, as a small team with a lot of applications to consider, we can’t give personal feedback on each application.
  
  

Background checks

To meet our regulatory obligations as an FCA-authorised financial services company, we need to do some background checks on all new hires. That means carrying out a DBS check and making sure you don't have any live criminal proceedings. Feel free to ask our Talent Acquisition team if you have any questions about this!

Everyone belongs at Marshmallow

At Marshmallow, we want to hire people from all walks of life with the passion and skills needed to help us achieve our company mission. To do that, we're committed to hiring without judgement, prejudice or bias.

We encourage everyone to apply for our open roles. Gender identity, race, ethnicity, sexual orientation, age or background does not affect how we process job applications.

We're working hard to build an inclusive culture that empowers our people to do their best work, have fun and feel that they belong.

Recruitment privacy policy

We take privacy seriously here at Marshmallow. Our Recruitment privacy notice explains how we process and handle your personal data. To find out more please view it here.