DOU (Director of Underwriting) For London Based MGA

Our client is a prestigious London market MGA with a significant amount of premium written by a highly specialised and experienced team of six underwriting experts, supported by three risk engineers. Catalysed by changes in the market and their Underwriting Manager’s decision to move on from the firm, the CEO chose to upskill this role, adapting the job description to fit a more dynamic leadership challenge. He had recognised that the new products, risks and exposures of their evolving marketplace required both a reimagining of their offering and the skills their DOU required to help shape the future of the organisation.

Given the niche class of this business it was realistic to assume that the number of quality candidates for this role was always going to be extremely limited. Therefore, our biggest concern on this project was that we had just one opportunity to attract and convert the right individuals. To achieve this, it was critical that we obtained a thorough understanding of the client’s culture and really grasped their USPs from the outset so we could most effectively present the scale of this opportunity to the right candidates.

• Given the highly limited pool of prospective candidates in the market, the precision and diligence of our research phase proved more critical than ever. Our team spent a significant amount of time with numerous market specialists (including capacity providers and the client’s board) gathering intel and opinions on the competencies, character and characteristics of those who might be right for the role, as well as developing a list of specific individuals of interest.
• This provided us with deeper insights into the potential candidates so that we could individually tailor our ‘approach’ to each one, maximising our chances of piquing their interest.
  By the end of week three we had gained a granular understanding of every potential candidate on our list, and clearly appreciated which elements of the role and opportunity to highlight in our initial contact with them to hopefully secure an exploratory conversation.
• Individuals at this level are often approached speculatively. Therefore, our outreach strategy needed to be meticulously refined, research-led, and light touch. Every prospect had been hand-picked by the board, putting reputations on the line, and given the limited number of individuals in the market with the specific skills required, we had just one chance to get it right.
• Candidates who engaged in conversations around this opportunity came to recognise that the client was of such repute that nearly every one of them showed interest in taking those discussions further.

• The longlist included Global Product Heads and Senior Underwriters at Insurers and Reinsurers.
• Approximately 20% were from a broking background (but had previously worked for a carrier).
• Two out of the 13 shortlisted were between roles, otherwise the majority were passive (i.e. not looking for a new role).

This campaign took 106 days from inception to successful completion. After a significant amount of analysis and research we presented a list of our top 13 candidates to the client. Nine were chosen for us to interview and the client met with five of them. Three were shortlisted for further assessments and to meet with other members of the organisation’s senior leadership team. The successful candidate came from a Lloyd’s syndicate and had a track record of building products and teams within this sector, but they started their career as an engineer in Europe. The search was a great success, and we continue to hear positive feedback about the business and their achievements.