Working in the insurance industry

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Most Initial Recruitment Used To Be From School Leavers, Who Often Applied

Most initial recruitment used to be from school leavers, who often applied to the Superintendent of the Room, or made contact through a mate already at Lloyd's. However, there are now increasing opportunities for graduate recruitment.

Details can always be found on their website. All clerks, no matter what their educational accomplishment or their method of recruitment, stress that underwriting requires a long and gradual apprenticeship. Case Studies - underwriting clerk: Peter is an underwriting clerk, aged 24, on a marine syndicate. He has a degree in Economics from the University of Warwick, and became interested in Lloyd's after spending three vacations working for the Santander. He says in June 2015: I regard the first five years as an apprenticeship.

It's a matter of just sitting and listening as you need wide experience before having any kind of responsibility. The work is fairly dull but on the marine box we never know what will come next. I administer covers that we write and I normally spend all day at Lloyd's sitting next to the underwriter. Maybe in five years I will be at the underwriting stage, and will have some responsibility, but it takes 15 or 20 years to become an underwriter. It's very much a matter of 'dead men's shoes' - you can only be promoted if someone moves on.

There are no real training facilities: you must ask questions and make sure you understand. We are encouraged to take the ACii ( examinations, but working on the box all day means you can't have day - release, so you have to study at home through correspondence classes. Martin is a clerk on a non - marine syndicate managed by a large broking group. He is 23 years old, and has been working as a clerk since he left state school with five GCSE levels. He describes his job: I think I learnt more in my time on claims than in my whole life, because you have to read the whole policy to find out if the risk is covered.

I Sat Between Two Claims Underwriters As Their Entry Boy. Anything Over

I sat between two claims underwriters as their entry boy. Anything over a certain amount had to go into the websites, and they would pass it over to me. I would make a card

I Think You Need To Have An Arithmetical Ability, Be Happy Thinking

I think you need to have an arithmetical ability, be happy thinking in numbers and have a fairly logical brain. You have to be able to be firm because th

From Account Broker To Claims Broker, And From There To A Placing

from account broker to claims broker, and from there to a placing broker. Such changes are a frequent means of career progression. Read the section